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Guyana: Guyoil-GDF fuel racket pegged at $1b – Jagdeo

A recent forensic audit of the state-owned Guyana Oil Company (Guyoil) has revealed that nearly $1b in fuel was siphoned off in a racket involving the company and the Guyana Defence Force where the fuel would be picked up and then transferred to third parties and charges are likely soon, Vice President Bharrat Jagdeo says.

“An audit was just done that had Guyoil and the army implicated in a scandal, in just one vehicle alone $995M was stolen in fuel from one vehicle. The charges will be laid soon,” Jagdeo on Friday told a press conference he hosted at the Arthur Chung Conference Centre.

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