Deo hits back - a rejoinder By George Kosui, Honiara - Solomon Star News

Deo hits back - a rejoinder By George Kosui, Honiara

11 June 2021

“Deo Hits Back”, the title of the article by Deo Harorimana portrays attempts by a guilty person trying to water down the issues raised against him and his partner Salome Kwaiga for exploiting local business people in the country to enrich themselves. 

The entire article does not explain how they solicit big loans that adversely affected business and the exorbitant high service and consultation fees charged. 

In this article I will not delve into any other issues but to maintain the call for responsible authorities to investigate the activities done by this foreign fraudster with BSP that puts the life of a good number of local businesses on the wire.

But first, I have to formally inform Deo that I will be filing a case against him for defamation. 

I actually resigned from the Central Bank in 2006 and not terminated for involving in fraudulent activities as alleged by Deo.

I think it is relevant that I maintain the call for responsible authorities to seriously consider taking up the issues and complaints raised by the victims to get rid of this fraudster and foreigner from the country. 

The core issue of concern are:

  1. The legitimacy of AIPF SI Limited as a foreign investor to adhere to foreign investment regulations. The first company name was IPacific Frontiers Limited (1794) re-registered in 2012. The question is why change the name of the Company and how does he do it as a foreign investor?
  2. The need to investigate the complex network between AIPF SI Limited and BSP that allow clients of the company to get big loans and subsequently the authority granted to Deo to apply for loan drawdowns.
  3. The need to investigate and justify the excessive fees charged by AIPF SI Limited and interest charges levied on such fees to clients.
  4. The question of tax evasion in relation to the high consultancy fees paid to AIPF SI Limited. Did AIPF SI Limited adhere to the IRD tax regulations by paying tax to the SIG? 
  5. The need to investigate where/how the money has been invested. The need for the Financial Intelligence Unit (FIU) and CBSI to check on AIPF SI Limited’s money track and trails.
  6. The legitimacy of the process that allows him to take over the title to the property (Honiara Refrigeration Building, Ranadi) from the Cheffers family. 
  7. The numerous court cases against clients for non-payment of fees, even when a loan is not taken up. For example SSS Company, the court case is still in progress and not won by Deo as claimed for $2.5 million in brokerage fees even when the loan of $25 million was not taken up by the client.
  8. The need for Deo to explain how/why he managed to claim payments for some projects although he failed to complete most of them. For example, Perch School Project, ICT Scan Project at the National Referral Hospital, Kukum Building,  
  9. The withdrawal of retention fees from the BSP without the consent and knowledge of the builder (contractor). For example, withdrawal of retention fees for the Mokolo Building from AJ Enterprises the contractor. 
  10. Why JNS Company Limited, company owned by Deo’s partner, Salome Kwaiga was engaged to do construction work when the Director (Salome Kwaiga) does not have the necessary technical capacity to do the work.

While Deo has the right to defend himself to the corridors of the court, responsible authorities need to investigate what AIPF SI Limited and its sole Director/Shareholder Deo has done to our local businesses.

As seen in the media, Deo’s business deals has raised a lot of questions that need to be dealt with by responsible authorities, especially those relating to the genuineness of his deals and how he had colluded with top bank officials of the BSP to exploit genuine businesses in the country. 

Whilst AIPF might be assisting few local businesses, most of his deals with BSP has raised issues of concern that are serious and must be dealt with by responsible authorities including the Judiciary system of the country.

By George Kosui,