Guysuco’s CEO, Errol Hanoman, has confirmed that the police are investigating a female staff member of the entity’s finance department in connection with a multimillion-dollar fraud.The fraud, which involves missing sums of money amounting to $34M, was uncovered during an internal audit of the entity.
Officials of the cash-strapped entity told the Guyana Chronicle that the fraudulent transactions occurred between 2012 and 2015
The woman was arrested on Friday morning by investigators from the Criminal Investigations Department (CID) and the Special Organised Crime Unit (SOCU) is working along with the CID.
The woman has been employed by the sugar corporation for a number of years and she was arrested while at work Friday morning. She remained in custody Friday evening.
The cash-strapped corporation has been hard hit by financial difficulties in recent years, resulting in the administration being forced to pump billions of dollars to keep the entity afloat.