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Port Moresby
August 3, 2021
Business News

Businessman charged with misappropriating more than K3 million

The owner of a local construction company is expected to stand trial soon following misappropriation of more than K3 million.

Daniel Yaro of Yurr Construction Limited was charged with misappropriating more than K3 million in Rehabilitation Education SectorInfrastructure (RESI) funds.

Mendi District Treasury paid K3.3 million to Yaro’s company to rehabilitate Mongol Secondary school in 2009.

Following failure to deliver,the National Fraud and Anti-Corruption Squad charged Yaro, in August of 2012.

Yaro is out on bail.

Meantime, investigations intothe misuse of millions of kina for RESI funds in ther areas are continuing.

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