Former Chairman of Nay Pyi Taw Development Bank and Former Nay Pyi Taw Development Committee Vice-Chairman Ye Min Oo has been charged under the Anti-Corruption Law, according to a statement issued by the Tatmadaw True News Information Team on August 5.

The Anti-Corruption Commission (ACC) has investigated the allegations of corruption in the case of the construction of a media center in Nay Pyi Taw's Myoma Market by Ye Min Oo, the former Chairman of Nay Pyi Taw Development Bank, former vice-chairman and former deputy mayor of the Nay Pyi Taw Development Committee, according to the statement.

According to the investigation, Ye Min Oo did not comply with the President's Office Directive No. 1/2017 in conducting Digital Marketing Services in advertising service of Facebook to change the bank name of Nay Pyi Taw Development Bank during his term to provide more information and services to the public. On August 3, 2020, more than Ks 28 million was allowed to be used to lease advertising services to a related company of him that violated financial management regulations and paid more for services than other companies which caused the damage to state’s fund and property, it said.

In addition, he issued a loan of Ks 170 million to two related persons on March 16, 2020 without any documents such as the expired land grant without complying with the loan policy and procedures of the Nay Pyi Taw Development Bank and the need to change the name of the grant. It caused the damage to state’s fund and property, it said.

Former Nay Pyi Taw Development Bank Chairman Ye Min Oo approved a loan of Ks 4.5 billion on September 28, 2020, ignoring a suggestion from the loan risk management committee that he should lend only Ks 4.25 billion from the Nay Pyi Taw Development Bank to secure a home and land loan from a related person of him. An additional 450 million kyat loan was also approved. It caused the damage to state’s fund and property, it said.

Ye Min Oo changed the name of a company to take out a loan to secure land and a house by lending Ks 81 million more than the Ks 4.719 billion loan approved by the Credit Risk Management Committee on September 28, 2020. In addition to, the construction of the Information Center at Nay Pyi Taw Myoma Market, the contract was leased to a related construction company of him on January 6, 2021 for more than Ks 169 million without bidding in accordance with Tender Procedure No. 1/2017 of the President's Office. It caused the damage to state’s fund and property, it said.

He has approved a loan of more than Ks 59 million from Nay Pyi Taw Development Bank as a tender project, not a company tender project, which caused the damage to state’s fund and property. The first complaint was lodged at Nay Pyi Taw Council Area No. 1 and No. 5 Police Station against him under Section 55 of the Anti-Corruption Law on August 8, 2021, and action is being taken against him, it said.