Colman Commission ignoring the smell of dirty money?

Afra Raymond asks where the money came from in the first place

Auntie Moses says that all money has a smell. Honestly-earned money smells clean and dishonest money stinks to high heaven. If you put too much of that dirty money in your purse, you start to stink too. So says Auntie Moses and she’s generally correct about those kinds of ethical issues.

Our friend Afra Raymond has noticed a little problem over at the Colman Commission into the CL Financial – CLICO debacle. I’ll let Afra explain it…

“There also seems to be a strange situation on CL Financial, since I am told that none of the affected people are willing to come forward to testify.  I am not very surprised at that and it is yet another indication of the extent of that toxic ‘Code of Silence‘.

What a shame!  25,000 policyholders said to be affected by the failure of CL Financial, yet only one is willing to testify.  Only One!   I wrote before in this space about the probability that a high proportion of those EFPA monies had never been screened by rigorous Anti Money Laundering (AML) procedures.  I suggested to the Minister of Finance that provisions be made in the payout agreements for the applicants for bailout monies to have the source of their funds vetted for compliance with VAT, PAYE, Income and Corporation taxes.  The Minister did not adopt those proposals.

So, what we now have is the spectacle of the Colman Commission set up by the government to examine the causes of the collapse and finding that few want to speak, very few.  I don’t know if it’s dirty money, or ‘keeping it in the family‘ or what…but I do hope that Colman takes a robust approach by using his powers to sub-poena people to appear and testify.”

Read the whole dirty story at Afra Raymond Colman Commission considerations

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Filed under Barbados, Consumer Issues, Corruption

One response to “Colman Commission ignoring the smell of dirty money?

  1. Pingback: » “Bankster” - An Old Word Spanning the World Keltruth Corp.: News Blog of Keltruth Corp. - Miami, Florida, USA.

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