Tag Archives: CLICO
prison bars

WANTED: Bajan Politicians and Public Officials

President Otto Pérez Molina of Guatemala resigned Thursday and will face charges in the customs scandal that has destroyed his government and mobilized ordinary citizens to protest against the sleaze. – The FCPA Blog […]

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Afra Raymond (l) Peter Pernell (r)

Hardtalk About the CL Financial (CLICO) Debacle with Afra Raymond and Peter Pernell

Originally posted on AfraRaymond.com:
Afra Raymond and Peter Permell are interviewed on the ‘Election Hardtalk‘ show on Power 102FMFM by Tony Frasier about the continuing impact of the CL Financial bailout on the economy and the request to get back the company by Lawrence Duprey. 16 July 2015. Audio courtesy Power 102FM Programme Date:…

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Afra Raymond

CL Financial Bailout – Impunity Insanity?

Originally posted on AfraRaymond.com:
© 2015 Dion Jennings. Used with permission. The headline ‘Duprey wants back CLICO‘ in the Sunday Express of June 28th 2015, did not surprise me at all. That is exactly the threat against which I have been warning throughout my campaign against this appalling and unprecedented bailout. To allow Lawrence…

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Afra Raymond

CL Financial Bailout – False Firing?

Originally posted on AfraRaymond.com:
Prime Minister Kamla Persad-Bissessar greets former Clico chairman Gerard Yetming, second left, and former Senate president Timothy Hamel-Smith, second right, after they showed up at a UNC “foot soldiers” mobilisation meeting in Debe on Tuesday. Also in photo are Oropouche East MP Dr Roodal Moonilal and UNC campaign manager Rodney Charles,…

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Leroy Parris (l) Terrence Thornhill (r)

CLICO Players Living High on the Hog

Submitted by Fidel The criminal justice system of the United States saw to it that Bernie Madoff, the Ponzi Schemer was essentially put in jail for the rest of his life. The criminal justice system of the United States saw to it that Sir Allan Stanford and the Financial Services Regulator in Antigua were put […]

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Leroy Parris

Former Chairman of CLICO Barbados Leroy Parris Suing Cash Strapped Government for Damages

Since his assets were frozen by the court, the former CLICO boss has lamented that he had been experiencing hardship – Leroy Parris (BT) The mouth of Mr. Hal Gollop, lead lawyer for Leroy Parris,  has been running like a sick nigga botsy of late. His protestations about client Leroy Parris are easily accessed on […]

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Afra Raymond

Integrity Reflections

Originally posted on AfraRaymond.com:
This column sets out my reasons for seriously questioning the motivation and priorities of the Integrity Commission. Despite my doubts as to the way in which successive Commissions have operated the Integrity in Public Life Act (IPLA), I have continued to offer suggestions as to how their work could be…

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Wiliam Layne

Open Letter to Former Permanent Secretary William Layne: ‘CLICO Was a Time Bomb Waiting to Explode and Explode it Did’

The CL Financial/CLICO saga continues to occupy the news space in Barbados and regionally. Many have predicted it will take years to unravel if not resolve. And given the sloth of the Barbados Court system and the interlocking interests of politicians and prominent others there is good reason for those with material interest in the matter to batten down for the long haul.

One individual who has had a prominent role to play and a lot to say about the CLICO/Parris matter is William Layne. He is a retired permanent secretary in the ministry of finance appointed to Chair the CLICO Oversight Committee established by the late prime minister David Thompson. Another little discussed role Layne held was Supervisor of Insurance. Layne in a hard hitting CLICO exposition titled RECENT FINANCIAL FAILURES IN THE CARIBBEAN – WHAT WERE THE CAUSES AND WHAT LESSONS CAN BE LEARNT? delivered a few interesting observations on what lessons we can learn about the demise of CLICO in Barbados.

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Leroy, Leroy,Leroy K*** …

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Mariano Browne

AUDIO: 95 Mandate interview on i95.5FM – 6 Feb 2015

Originally posted on AfraRaymond.com:
Afra Raymond is interviewed on the ‘95 Mandate‘ show on i95.5FM with Ardene Sirjoo and Mariano Browne about the continuing impact of the CL Financial bailout on the economy and the pending Colman Commission report. 6 February 2015. Audio courtesy i95.5FM Programme Date: Sunday, 6 February 2015 Programme Length: 1:06:41

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Leroy Parris

Leroy Parris and Eight Million Dollars

If Barbadians were to dispassionately try to solve many of the ills affecting our little island, a priority item would be a flawed governance system. The revelation that head of the Fair Trading Commission (FSC) is the nephew of deceased late Prime Minister David Thompson should make those calling for greater transparency in government raise the level of advocacy.

In 2013 Leroy Parris of Professional Services Inc was ordered by CIBC FirstCaribbean International Bank to remove eight million dollars from that bank – CIBC First Caribbean International Bank Instructs Leroy Parris to Take a Hike. The reason has not been made public although John Public would have to assume CIBC FirstCaribbean International Bank took issue with the source of the funds. Of interest is that the funds were reported to have been transferred to a credit union. Obviously, if true, the credit union had no similar concerns.

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Neval Greenidge

Whistleblower Policy Needed–Former CLICO Executives Speak Out

The failure of CLICO and other failures in the Eastern Caribbean require regional governments to implement a whistleblower policy. It is evident regional regulators are more committed to managing within national boundaries therefore pan Caribbean companies will continue to be a challenge. BU believes a whistleblower program facilitated by Caricom can act as an ancillary mechanism to  support the function of moribund regional regulators. The lack of labour mobility in the Caribbean means individuals are not motivated to risk personal financial hardship and victimization in the name of doing what is ethical and moral.

The following comments were posted in another forum by individuals purporting to be Neval Greenidge and Larry Davis, both former CLICO  executives. There is always the case to question the motives of former employees in a situation like the one unravelling with CLICO. In light of what has transpired all actors who played a part should be clinically interrogated to accurately piece together the truth behind the demise of CLICO Barbados Holdings and subsidiary companies.

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Leroy Parris

Leroy Parris and the $3.333 Million Payment

The news that the Deloitte Judicial Manager has taken action to recover $3.3. million dollars paid to Leroy Parris via Thompson & Associates has flushed out Laroy Parris and his credentialed lawyers Hal Gollop QC and Vernon Smith QC. BU will not be side-tracked by the theatre that will be orchestrated around this matter about how $3.3 millions dollars found its way into the deep pocket of former Executive Chairman of CLICO Leroy Parris. What some of us want to know is if there is consensus the invoice generated to support the $3.3. million payment is legitimate and whether taxes and relevant laws have been honoured. Does Parris and his lawyers dispute the findings of Deloitte Judicial Forensic Report on the matter?

To pursue a clinical approach to discovering truth and justice in the matter of CLICO and the $3.3. million dollar payment we highlight Walter Blackman’s intervention posted on another blog Speaker Michael Carrington and Deputy Speaker Mara Thompson Drag the Highest Court in the Land Into the Gutter.

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Barbados Parliamentarians 2013

Speaker Michael Carrington and Deputy Speaker Mara Thompson Drag the Highest Court in the Land Into the Gutter

The Speaker of the House Michael Carrington was caught with his hand in the cookie jar, the consequence? Madame Justice Jacqueline Cornelius had to issue a court order to force the payment of monies owed to a wheel chair bound septuagenarian – about two hundred thousand dollars – forced to wait 14 long years to have his case settled.

As if this was not enough of an embarrassment, the Deputy Speaker Mara Thompson and widow of the late Prime Minister David Thompson has been named in a court action by the Judicial Manager for Clico which alleges that her late husband generated a false invoice to support a payment of 3.3 millions dollars to Leroy Parris then Executive Chairman of Clico Barbados Holdings Limited.

Barbados has always been categorized as an orderly society, one that manages its affairs with dignity. What is happening is unacceptable and continues to rain shame on our little country.

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Prime Minister Fruendel Stuart

Prime Minister Stuart… all we want for Christmas is for the giant to be aroused from his slumber

It is difficult to feel cheerful in the Yuletide season when so many things in Barbados seem to be deteriorating. It is difficult to feel confident if a minister of cabinet publicly expresses his lack of confidence in how the Cabinet is managing “process and procedure’’. He is on the inside isn’t he? It is […]

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CLICO Policyholders suing, finally!

 Photo credit: Nation

CL Financial – Bait & Switch

Originally posted on AfraRaymond.com:
“They’ve got twelve Aces up their sleeve! So who the Hell can we believe?” —Rudder, David Michael. “Back to the Same Ole Same.” The Autobiography of The Now. Lypsoland, 2001. Used with permission The CL Financial bailout seems to be entering its end-game, with repeated claims from the Minister of Finance that the…

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