Bogus investors delay launch: Channel 2

Channel 2 Television has revealed that two of its Australian shareholders are not genuine investors, furthering more delay to its launch.

In a statement today, Channel 2 chief executive Salamaat Ali said internal revelations have been made in relation to the financial status of two Australian foreign shareholders who represent 49% of the company. 

“It has been revealed that these two foreigners are not bona fide investors and that they do not have any funds to invest in the business, as was illustrated when the application for the licence was made.

“Certain other acts of these two in relation to foreign investment are now being reported to the Financial Intelligence Unit, FICAC and Fiji Police Force,” Ali said.

He said in light of this, necessary applications are being made to the FTIB, Reserve Bank of Fiji, Ministry of Commerce and Communications, the Attorney General’s Office and the High Court to seek requisite redress in order to move the business forward.

“As a local Fijian shareholder and investor, I am taking this action in order to stop the exploitation of Fiji’s resources from alleged bogus foreign investors who have heavy foreign mortgages and are using a Fiji licence to advance their personal interests,” he added.