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Two allies of Myanmar junta chief investigated for corruption: source

AFP – Two close allies of Myanmar’s top general have been removed from the junta’s ruling council and are being investigated for corruption, a military source told AFP on Monday.

A former home affairs minister Soe Htut, was “returning to military duty”, according to state broadcaster Myawaddy, which announced a reshuffle of the State Administration Council – as the junta calls itself.

The military source also confirmed local media reports that a former chairman of the junta’s investment commission Moe Myint Tun was similarly facing a graft probe.

The reshuffled list of council members broadcast by Myawaddy did not include Moe Myint Tun, who also sat on the boards of two sprawling military-run conglomerates with interests in everything from jade to tobacco to tourism.

“Lieutenant General Soe Htut and Lieutenant General Moe Myint Tun… are being investigated in corruption cases,” a military source told AFP.

“We do not know what will happen to Moe Myint Tun,” the source said, declining to be named due to the sensitivity of the matter. An official from the junta-stacked election commission was also replaced in the reshuffle, as was a deputy commerce minister, Myawady reported.

The economy has slumped since the military’s 2021 power-grab, with the local kyat currency plunging against the dollar and business sentiment and forex reserves hammered by roiling conflict and sanctions.

The official exchange rate for the kyat is currently just over 2,000 per dollar, but in recent months the greenback has fetched up to 3,600 on the black market.

Authorities revoked the licences of 166 money changers between March to September, for failing to comply with central bank regulations, state media reported last week.

Myanmar bank notes. PHOTO: THE STAR