CMB case: Contractual dispute turns criminal matter
Friday, July 24, 2020
CMB case: Contractual dispute turns criminal matter
The alleged missing funds were later reportedly fraudulently siphoned into foreign bank accounts leading to what turned into a high profile money laundering case.
It is safe to argue that just like Kgori Capital, CMB might be another victim of gross abuse of office and power by prosecutions authority.
Whilst celebrating milestones in inclusivity, with notably P5 billion awarded to vulnerable groups, the report sounds a 'siren' on a dangerous and growing trend: the ballooning use of micro-procurement. That this method, designed for small-scale, efficient purchases, now accounts for a staggering 25% (P8 billion) of total procurement value is not a sign of agility, but a 'red flag'. The PPRA’s warning is unequivocal and must be...