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HLA MYO HTUN Myanmar Knowledge & Technologies FINANCIAL FRAUD, GROSS MISCONDUCT, THEFT, FALSE REPRESENTATION YANGON, Nationwide
28th of Dec, 2011 by User833599
HLA MYO HTUN previously worked for Myanmar Inspirations Co. Ltd. in YANGON, MYANMAR as a person responsible for marketing. He was employed from 2005 until August, 2011. In order to help him to do a better job, he was allowed to use the title "Chief Information Officer" at the discretion of Managing Director and CEO. HLA MYO HTUN enjoy a very high salary for his role and regularly received bonus for various OTE earnings. HLA MYO HTUN was put in a position of trust and was allowed to manage company finances while Managing Director is away on medical leaves at the beginning of 2011. During which time, he has stolen over $500,000.00 of company's funds while falsely presenting company's income and financial statements to share holders. He misappropriated company funds for gambling at football games and on prostitutes. He also misused company properties such as laptop computers and mobile phones. For example, he took 3 mobile phones from company and gave to his wife, his father and his brother to use. They ran up a huge phone bills but making excessive oversea phone calls. He then used company finances to settle the telephone bills for the phones used by his wife, his father and his brother. In August, 2011, the extent of his abuse were uncovered when other members of staff have written a collective petition to CEO to inform of his mismanagement. He was then confronted by CEO and share holders of the company and demanded explanations during a management meeting, upon which he ran away from the meeting room. The company has reported him to law enforcement authorities and proceed to take legal action against him. The legal action against him is currently in progress. In September, 2011, HLA MYO HTUN claimed to have setup a company called "MYANMAR KNOWLEDGE AND TECHNOLOGIES" and started looking for investments. It is illegal according to Myanmar law for someone who is currently under fraud investigation to hold a directorship or shareholder position in any company. However, he has contacted a number of unsuspecting overseas investors and corporations for investments and partnership. The company "MYANMAR KNOWLEDGE AND TECHNOLOGIES" does not exist as a legal entity in Myanmar. It is not a registered business, it is simply a name created by HLA MYO HTUN.

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