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NCN Chief Executive Officer forced to resign

The CEO at NCN Fuzzy Sattaur today tendered his resignation to President Donald Ramotar. It was accepted immediately.

The company’s programme manager Martin Goolsarran who was sent on leave when a probe began into financial irregularities over there has been suspended for a number of months.

Sattaur’s resignation may have been forced. Following the findings of a special audit by a private company and an investigation by the NCN Board, the board recommended that Sattaur be fired owing to several massive financial irregularities that took place under his watch and that he may have been fully aware of. The NCN board and the special audit also found several cases of fraud, this newscast understands.

Sattaur’s nightmare began just after the opposition chopped the budget for NCN after he claimed that the company made $500 million dollars on its own last year but still wanted the government’s subvention of 80 million dollars. President Donald Ramotar ordered an immediate probe to find out the state of finances at NCN even as Sattaur led several protests against the opposition over the budget cuts.

The probe revealed senior NCN officials operating a number of companies within the company and accepting NCN payments as if it was theirs and depositing millions into their personal accounts. All of that reports state was being done with the CEO having full knowledge.

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