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Former PNG Army Colonel charged with misappropriation, money laudering

A former PNG Defence Force colonel, facing 106 counts of misappropriation charges (under the Criminal Code Act) and one count of money laundering (under the Proceeds of Crime Act) appeared before the Waigani Committal Court this morning.

Kisokau Powesau, 58 years old from Timoenai Village in Manus Province is charged for his purported involvement in the misapplication of Commercial Support Program Funds belonging to the defence force between 2008 and 2011.

He was arrested by members of the National Fraud and Anti-Corruption Directorate in Port Moresby last week, following an interview.

He's alleged of misappropriating funds totaling more than 1-million Kina belong to the Defence Force Commercial Support Program Trust Account.

Kisokau was employed with the PNGDF for 20 years.

This account was established by the then Minister for Treasury and Corporate Affairs, Iaro Lasaro as per the Public Finance Management Act (1995).

The account was purposely to collect revenues and for revenue generation so that it may assist in relieving pressure on the recurrent budget of the Defence Force.

The process in which funds from the CST Trust Account is expanded is by way of a committee called the Senior Defence Committee, which oversees the proper use of the funds.

Its alleged Kisokau and another serving officer were managers at that time and they failed to follow set Trust Deeds resulting in the misappropriation.

Its alleged that both officers were signatories to the account at the time of the misappropriation.

Its alleged the funds were transferred to another account and later accessed for their own use.

Kisokau Powesau is out on a K6,000 bail and his case adjourned to March.

NBC News

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