By Stanley Ove Jr – EMTV News, Port Moresby
A Malaysian National was arrested on Thursday by the Police in Port Moresby, for fraud and false pretences.
Peter Ling, aged 61, was arrested and charged for defrauding his employer Cakara Alam Limited, a Malaysian Logging Company, and indulging funds and false pretences.
Ling was alleged to have misappropriated substantial amounts of funds from his employers for his own interest and redirected funds into is private company, Evergreen Limited.
It was alleged that he made representations to logging landowners in West New Britain, East Sepik and Milne Bay Province using the Cakara Alam name to divert funds from logging and marketing agreements between landowners and investors into his own private company.
Peter Ling was arrested on Thursday and brought to the Boroko Police station for questioning.
He was granted bail by the courts after being in police custody, at the Boroko Cell, for almost three hours.
He is expected to appear before the court when police files and reports are completed.