Rs 12 Million Payment by CEB to International Company Vanishes

The Central Electricity Board (CEB) has been asked to shed light on the disappearance of Rs 12 million paid to an international company, Hyundai Global Service Europe B.V., claiming to have never received the funds. The issue was raised by Labour Party MP Patrick Assirvaden in a question to the Minister of Energy.

The company had been contracted by the CEB for a 10-year periodical maintenance of Alpha Lubricating System on three MAN engines at the Fort George power plant.

The contract, worth USD 261,301.53 (approximately Rs 12 million), was awarded on February 2, 2023.

After completing the maintenance work between August 9 and September 15, 2023, Hyundai Global Service Europe B.V. submitted two invoices worth USD 193,801.53 and USD 67,500 in October 2023.

The CEB paid a total of USD 258,944.99 on December 7, 2023, via a bank transfer to the supplier’s account, according to details provided by the supplier.

However, in April last year, the supplier informed the CEB of a change in its company name from Hyundai Global Service Europe B.V. to HD Hyundai Marine Solution Europe B.V.

The company also claimed that it had not received the payment.

The matter came to light when Joe Lesjongard, a representative of the company, informed the authorities that a complaint had been filed with the police on July 5.

An internal audit department investigation was initiated on May 22, and a preliminary report was submitted on June 23.

According to the report, there is no evidence to suggest direct involvement by CEB personnel in the alleged “phishing scam” and that it is more likely that the company’s system was hacked.

The investigation continued, and the case has been referred to the police.

The Ministry of Energy has emphasized that the CEB will investigate this matter further and provide a detailed report on its findings.

The case has raised concerns about financial accountability and transparency in government transactions.

Source: Defi Media