AVM advance metals limited

We don't want to be giving this lot any more money!DRCongo audit...

  1. KKR
    1,298 Posts.
    lightbulb Created with Sketch. 517
    We don't want to be giving this lot any more money!

    DRCongo audit reveals 1.3 billion dollar embezzlement
    22 July 2008
    Source: Agence France Presse
    The government of the Democratic Republic of the Congo (DRC) on Tuesday denounced the alleged embezzlement of 1.3 billion dollars (800 million euros) by public companies and finance officials.

    The embezzlement was revealed following a public audit.

    Two government commissions were launched at the beginning of 2008 by the Congolese government to "fight corruption, the embezzlement of public funds, bad governance and the plundering of state buildings and land," senior minister Godefroid Mayobo told a press conference.

    Mayobo reminded that President Joseph Kabila, during his inaugural address in December 2006, had "announced the end of the play period with regards to the behaviour of leaders and State administrators."

    The commissions were charged with investigating organisations responsible for imports, property and customs, as well as six public companies specialised in the areas of water, electricity, transport and aviation among other things.

    The government has transferred the case files of 27 suspected embezzlers to the public prosecutor so as to "prepare cases for trial or press charges, if applicable", said Mayobo.

    Disciplinary action is being taken against another 53 of the people involved, and investigators have opened 153 cases relating to the plundering of public property in the provinces of Kinshasa, Katanga and Sud-Kivu, said Mayobo.

    A Congolese NGO in April denounced large-scale embezzlement of public funds it said had taken place between 2006-2007 and called for those involved to be brought to justice.

    We are "very worried by the manner in which state finances are managed," said anti-corruption group Licoco.
 
Add to My Watchlist
What is My Watchlist?
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)
Last
4.7¢
Change
0.001(2.17%)
Mkt cap ! $13.14M
Open High Low Value Volume
4.6¢ 4.9¢ 4.6¢ $213.1K 4.518M

Buyers (Bids)

No. Vol. Price($)
1 2680 4.5¢
 

Sellers (Offers)

Price($) Vol. No.
4.9¢ 94928 2
View Market Depth
Last trade - 16.10pm 25/07/2025 (20 minute delay) ?
AVM (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.