On day four of the trial of PM Laisenia Qarase, the
second FICAC prosecution witness Sitiveni Weleilakeba has been referring to Mr.
Lyle Cupit, the founding chairman of Fijian Holdings Limited, the flagship
Fijian investment company formed in 1984 by Ratu Sir Kamisese Mara, then Prime
Minister and Minister for Fijian Affairs who chaired the Bose Levu Vakaturaga
and the Matabose ni Veika Vakaitaukei (Fijian Affairs Board or FAB).
The
fact that these events took place twenty years ago now is enough to nullify this
trial. PM Qarase cannot get a fair trial with crucial witnesses now deceased
like Lyle Cupit and the former President and the late Turaga na Tui Nayau, Ratu
Sir Kamisese Mara.
Ratu Sir Kamisese Mara and his Cabinet in 1984 approved the establishment
of the FHL, under its affirmative action program. Cupit would be able to tell the
court the circumstances surrounding the sale of these shares which are the
subject of the nine charges filed by FICAC against PM Qarase.
During
Weleilakeba’s evidence to the Suva High Court given during cross examination by
the defence lawyer for Fiji’s legal and elected Prime Minister Laisenia Qarase
on Monday 9 July 2012, he admitted that the minutes of the board meeting that
he prepared as Company Secretary for FHL were not detailed and that he followed
the format preferred by the Chairman, Lyle Cupit.
Weleilakeba said that Cupit
only wanted the resolutions passed by the FHL Board to be included in the draft
minutes. Weleilakeba said Cupit did not want the discussion between Board
members, or whether they voted for a resolution, or against it, to be included
in the minutes, just the fact that the resolution was passed, was sufficient.
Weleilakeba
admitted to the court that he received no special training and attended no
short courses before he was appointed Company Secretary. His only qualification
being a Bachelor of Agriculture and Diploma in Agricultural Science from the University
of the South Pacific. Weleilakeba said that he worked at the Ministry of
Agriculture and then the now failed Native Land Development Corporation until
1987 when he joined FHL as Company Secretary.
In
evidence given to the court today 10 July 2012, Weleilakeba was shown the FHL
Annual Report for 1993 where Cupit defends the issuance of shares against
criticism leveled against the FHL Board and some board members and employees
who purchased shares.
Weleilakeba admitted that he had a major role in the
preparation of the Annual Reports and that he did not disagree with Cupit’s
defence of the issuance of Class A shares to private companies and individuals.
Weleilakeba
was also shown the 1996 Annual Report where once again Cupit was defending FHL
against the criticism leveled against the FHL Board, Directors and employees
who held shares. Again he confirmed to the court that he agreed with Cupit’s
statement.
The
2005 Islands Business Magazine also interviewed Cupit:
CUPIT
SAYS SHARE PURCHASES WERE LAWFUL AND ABOVE BOARD
“Cupit defends the purchases and says he would today exactly follow the same path.
“What was done
was clearly done in full disclosure and totally transparent, and if the governance
framework was in place, it would have passed those deals.
“Those deals
are clean. It’s people’s imagination that’s getting them wrong. They were clean.
If we formed the company again and with the governance framework, it would
still go through.”
http://www.islandsbusiness.com/fiji_business/index_dynamic/containerNameToReplace=MiddleMiddle/focusModuleID=3738/overideSkinName=issueArticle-full.tpl
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