Former PNG PM , Treasury Secretary accused in UBS Loan

Former Papua New Guinea Prime Minister and Member for Ialibu Pangia Peter O'Neill has been described as 'centrally responsible' for the Union Bank of Switzerland loan and former Treasury Secretary Dairi Vele has also been named as being 'indispensable' in assisting him to obtain the loan.

These were from the executive summary of the 2 year-long Commission of Inquiry into the controversial loan deal.

Northern Governor Gary Juffa during the grievance debate in Parliament, said the Commission has recommended that Mr. O'Neill be prosecuted for giving false evidence to the Commission and be referred to the Independent Commission Against Corruption, with further referrals for both to the Leadership Tribunal.

Among others is the recommendation for the immediate establishment of the Sovereign Wealth Fund.

NBC News / PNG Today

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