Former Burma minister denies embezzlement of $100 million gem fund
Source: Asian Correspondent
Former Burma minister denies embezzlement of $100 million gem fund
by Asian Correspondent Staff | 4th June 2016
BURMA’S former mines minister has denied that high-ranking members of the previous government siphoned money from a €93 million ($104 million) account as alleged by the Gems and Jewellery Entrepeneurs Association.
Only €7 million ($8 million) was reportedly left in the account when the new civilian government under Burma de facto leader Aung San Suu Kyi took over in March.
The gems association is demanding an explanation on the money’s disappearance, saying the account was funded by a 1 percent tax on official gems sales.
The mines minister of the previous government, U Myint Aung, flatly denied any wrongdoing this week. “The money was used for environmental conservation and regional development projects,” he said, according to the Myanmar Times.
Read more: https://asiancorrespondent.com/2016/06/former-burma-minister-denies-embezzlement-100-million-gem-fund/
