Former FBC CEO Riyaz Sayed Khaiyum and FBC Chief Financial Officer Vimlesh Sagar have been granted bail by the Suva Magistrates Court over two separate matters.  

In the first case, the duo appeared before Magistrate Krishan Prasad this afternoon. 

Sayed-Khaiyum is represented by Senior Counsel Devanesh Sharma with his associates Gul Fatima and Mohammed Saneem. 

Sagar is represented by lawyer Ritesh Singh.

The accused were granted non-cash bail of five thousand dollars with two sureties. 

They have been ordered not to reoffend or interfere with witnesses. 

They will have to surrender travel documents and a stop departure order has been issued.  

Principal State Counsel Lilliane Mausio did not object to bail. 

Sayed-Khaiyum’s lawyer Devanesh Sharma informed the court that FICAC should outline why his client was refused bail and kept in custody overnight when he is not a flight risks.  

Sharma says this is to ensure a fair trial. 

Riyaz Sayed-Khaiyum is charged with one count of Abuse of Office and one count of General Dishonesty Causing a Loss while Vimlesh Sagar is charged with one count of General Dishonesty – Causing a Loss.

It is alleged that Sayed- Khaiyum between the 1 July 2017 and 31 January 2023,initiated five legal proceedings on behalf of FBCL without the knowledge and approval of the FBCL Board of Directors, which were acts prejudicial to the rights of FBCL for the purpose of gain amounting to $138, 813.37.

It is also alleged that between the 1st of July 2017 and 31st of January 2023 in Suva, Sayed Khaiyum dishonestly caused a loss to FBCL by pursuing legal cases which were not in the interest of FBCL, amounting to $138, 813.37 knowing that the loss would occur or that there was a substantial risk that the loss would occur to the FBCL. 

It is alleged that Sagar between 1 January 2023 and 31 December 2023, dishonestly caused a loss to FBCL by approving payments to be made to R Patel Lawyers without the FBCL Board of Director’s approval, amounting to 

$15, 075.88 knowing that the loss would occur or that there was a substantial risk that the loss would occur.

Meanwhile, in a separate case Riyaz Sayed Khaiyum is charged with one count of Abuse of Office and one count of General Dishonesty – Causing a Loss while Sagar is charged with one count of General Dishonesty – Causing a Loss.

The two appeared before Acting Chief Magistrate Josaia Waqaivolavola. 

It is alleged Sayed-Khaiyum between 1 September 2022 and 11 November 2022, in the abuse of the authority of his office, did arbitrary acts for the purpose of gain, namely circumvented the tender process in FBCL’s Finance Manual in procuring a Volkswagon Touareg for $207,470.00, which were acts prejudicial to the rights of FBCL.

It is also alleged that Sayed-Khaiyum, between 1 September 2022 and 11 November 2022dishonestly caused a loss to FBCL by procuring his Volkswagon which were not in the interest of FBCL and amounting to a total loss of FJ$84,470.00 to FBCL and by doing so knew that the loss would occur or that there was a substantial risk that the loss would occur to the FBCL.

It is alleged that Sagar, between 1 October 2022 and 1 December 2022 dishonestly caused a loss to FBCL by approving payments relating to the purchase of a Volkswagon Touareg for $207,470.00, which were not in the interest of FBCL and amounting to a total loss of FJ$84,470.00 to FBCL and by doing so knew that the loss would occur or that there was a substantial risk that the loss would occur to the FBCL.

Both the matters have been adjourned to the 26th of next month.