Controversies
In November 2010, Flora Carruthers, former deputy governor of the Bank of Papua New Guinea, was arrested on a bench warrant issued by the National Court. It was alleged that, when deputy governor, Carruthers misappropriated K16,000 in travel allowance from the bank.
Carruthers left the bank suddenly in 2003, after a 20 year career. At the time, Central Bank Governor Wilson Kamit took the unusual step of placing an advertisement in a newspaper, explaining that Carruthers had been fired as a result of misappropriation of money belonging to the bank. Carruthers was also director of Transparency International in PNG. In 2002 Carruthers was named in the Queen’s birthday honours list for service to the Bank of Papua New Guinea.
Read more about this topic: Bank Of Papua New Guinea