Angel
New Member
The Anti Corruption Commission (ACC) has implicated four in the embezzlement of Buddha Dordenma project fund worth more than Nu 320 million (M).
An investigation report from the commission stated that Lam Tshering Wangdi who initiated the project and Damcho Choden (Anim Damcho), the project manager had grossly misused the project fund for their personal enrichment, which also partly explains why the project was delayed by years.
ACC began the investigation on September 5, 2016 however, active operational phase commenced on February 2, 2018.
Lam Tshering Wangdi
During the investigation it was found that there was no satisfactory proof to show that Lam Tshering Wangdi made sincere and honest attempt to infuse transparent practice in the collection and use of donations and contributions for the project.
On the contrary, the manner in which he operated his private account to channel foreign remittances meant for the project and keep substantial amount of such transaction off the record only stands to prove both his intention and will to misappropriate.
ACC’s investigation report stated that between 2004-2008, Lam Tshering Wangdi had misappropriated over Nu 74.649M from the Buddha Dordenma Image Fund (BDIF) account maintained with the Bhutan National Bank Ltd. (BNBL) either by directly converting into assets or by diverting to other individuals including Anim Damcho and her family.
During this period, he had received a remittance of over Nu 114M in the BDIF account and had incurred over 43.75M for the project. However, during the initial phase of construction, not much of the fund was utilised, as the expenses for the approach roads, water supply and electrification works were supported by the government.
From 2009-2018 Lam Tshering Wangdi misappropriated over Nu 75.25M from the BDIF account using similar practices. He had received over Nu 366.47M and had spent over Nu 305.90M for the project, the report stated.
Between June 2006 and 2018, the Lam had misappropriated over Nu 198.10M. After diverting the remittance intended for the project into his personal saving account, he had received over Nu 277.40M and incurred over Nu 84.86M for the project.
It was also found out that between 2008 and June 2018, he had unnecessarily spent over Nu 0.30M from the project’s CD account maintained with BoB. “The investigation does not find any rationale in incurring from the project fund for the luxury of private individuals,” the report stated.
The investigation found that between 2004 and 2008, Lam Tshering Wangdi operated both his personal savings account as well as BDIF account to receive foreign donations.
However, it was learnt that he had not maintained proper records of individual donations received and its purpose, and how the donation had to be used.
It was learnt that as early as 2004, foreign remittance started coming into the BDIF account.
It was found that Lam Tshering Wangdi’s personal saving account did not receive any huge and frequent remittances from abroad although it was opened since 1998.
Investigators observed that until a credit deposit (CD) account with the Bank of Bhutan (BoB) was opened in December 2008, there were only two remittances amounting to Nu 4.7M received from donors.
However, after the opening of the CD account with BoB, until May 2018, about 89 remittances amounting to about Nu 2.7B has been credited to his personal saving account.
Anim Damcho
ACC found that prior to the commencement of the project, Anim Damcho had only Nu 46,447 in one of her saving accounts maintained with BNBL. After 2004 up until her business operations in 2009, she had deposited Nu 19.3M into her saving accounts.
During this period, she did not have known source of income to be able to explain such huge cash inflow into her account.
The investigation discovered that the staff members of BDIF project and BNBL were made to deposit the amounts into her saving accounts. The staff members confirmed of having made the transactions into Anim’s account upon her instruction.
In 2011 Anim Damcho allegedly embezzled Nu 2.4M from the project fund on the pretext of purchasing a Toyota Fortuner. However, the vehicle was not envisioned to be used for the project, but for the private use. Her nephew, Younten Jamtsho, the CEO of her businesses, used the vehicle.
Other beneficiaries of the project fund
It was found that between 2004 and June 2018, Anim Damcho’s younger sister Kezang Deki had benefitted with Nu 3M from the project fund. Her younger brother Ugyen, who is the incumbent Phangyul gup also benefitted with Nu 950,000.
There are 108 counts of embezzlement under section 287 of the Penal Code of Bhutan (PCB) 2004 and 27 counts of embezzlement under section 52 of the Anti Corruption Act of Bhutan (ACAB) 2011 against Lam Tshering Wangdi.
Anim Damcho is booked for 125 offences. She is charged for 89 counts of adding and abetting, 23 counts of participation in an offence, one count of accomplice, two counts of money laundering and 10 counts of embezzlement.
Younten Jamtsho is charged for one count of concealment under section 73 of ACAB 2011 while Ugyen is charged for one count of money laundering under section 72 of the Act.
ACC has forwarded the case to the Office of the Attorney General on September 13.
Meanwhile, a definite project cost for the construction of the 169ft (52 metre) Buddha Shakyamuni statue is still unknown including the project duration.
Younten Tshedup
Thank you
http://www.kuenselonline.com/lam-tshering-wangdi-and-anim-damcho-booked-for-corrupt-practices/