… However, reports this week indicated that forensic investigator Bob Lindquist has uncovered a dummy company associated with CL Financial and Clico.
The company is said to be linked to two former senior officials of CL Financial. Lindquist has been called in by Government to assist in untangling the maze of dealings in the CL Financial group in the wake of a State bailout of the conglomerate.
Sources said Lindquist has uncovered a paper trail showing the exchange of funds between the various companies of the group. This paper trail suddenly came to an end after detailing the transfer of funds. The phantom payments were reportedly made under the guise of “consultancy fees” and cannot now be traced.
Sources would not reveal the names of the two men involved but would only say that they were high-ranking and had been influential in the company.”
… from T&T’s Newsday article I Have A File On CLICO
“Criminal Activity On The Part Of Clico” Trinidad & Tobago Attorney General John Jeremie
The house of cards known as CLICO has fallen and it turns out that CLICO’s criminal activities were known and documented by the Government of Trinidad & Tobago as far back as 2006.
“Sources would not reveal the names of the two men involved but would only say that they were high-ranking and had been influential in the company.”
Meanwhile, the current forensic investigation by Bob Lindquist has apparently uncovered dummy companies, monies being transferred to nowhere and the ever-present “consultant fees” by the truckload.
Barbados Free Press Uncovers New CL Financial-Related Company Created Under Suspicious Circumstances
A CL Financial company called British American Insurance Company Limited is being sued over a US$300 million dollar Florida land deal.
A court document obtained by Barbados Free Press alleges that secret “incentives” (read “secret commissions”, “bribes” or “gifts”) were provided to company insiders in return for having CL Financial Group purchase the land for more than it was worth.
Barbados Free Press today discovered that a Senior CL Financial Executive named Robert FULLERTON formed a new Florida company B. A. Payment Services LLC on February 5, 2009 after all the trouble started with CLICO & CL Financial but only 14 days before the lawsuit was launched over the US$300 million dollar land deal.
We find the timing highly curious and we’re sure that Bob Lindquist and the Plantiff Green Island Holdings, LLC will too!
For full details, copies of corporate and court documents, visit BFP’s story EXCLUSIVE REPORT BY BARBADOS FREE PRESS: CL Financial Group Collapse – Insiders Took Bribes To Have Company Purchase Land For More Than Market Value!