Reddy allegedly secretly transferred thousands into his NZ bank account
BY VICTOR LAL
Sada Reddy, the Governor of the Reserve Bank of Fiji, is no longer at his post as the custodian of the country’s financial system.
Inia Naiyaga is expected to be brought in as the Acting Governor. Coupfourpointfive understands the illegal regime is to make an official announcement in due course.
According to highly reliable sources inside the Reserve Bank of Fiji, Reddy had allegedly transferred thousands of dollars to his private bank account in New Zealand last year, shortly before he devalued the valueless Fijian dollar.
On 9 April 2009, the Fiji dollar lost its value by 20 per cent. So while the poor feared more hunger and loss of employment, the man who devalued the Fiji dollar had the previous day allegedly secretly funnelled his own money, to the tune of $850,000 into his New Zealand private bank account, where his family reside, and he holds permanent residency.
The RBF’s Financial Intelligence Unit, tasked with the job of monitor money-laundering, according to the reliable bank sources, turned a blind eye to the alleged money transfer.
More information as we get it.