Update: March 2, 2010
This article was originally published by us on September 22, 2009. In light of Afra Raymond’s excellent article published by BFP on March 1, 2010 CL Financial & CLICO Bailout – The Mystery of the Missing Billions we thought our readers might want to give further consideration to the conflicts of interest by Barbados Prime Minister Thompson in relation to the CLICO scandal and bailout. We’ll repost this article at the top of the blog for a day or two.
Here is our original Sept. 22, 2009 article…
Barbados Insurance Industry executives finally sound public alarm about Prime Minister Thompson’s friendship with Leroy Parris
The Prime Minister of Barbados has a long-standing conflict of interest between his duty to the public and his close friendship with CLICO Barbados executive Leroy Parris. Mr. Thompson has addressed the conflict essentially by saying that Parris is his longtime friend and anyone who has a problem with that can pound salt. In other words, the public can “piss off”.
Sorry about the language friends, but I wanted you to be clear on the Prime Minister’s simple message when the fancy words are stripped away. Make no mistake, Barbados citizens have been told to “piss off” when it comes to mentioning David Thompson’s conflict of interest.
Now some insurance industry executives are finally speaking out. (source article at end of page)
Thompson’s Conflict of Interest with CLICO goes far deeper than his friendship with Leroy Parris
If the conflict was only friendship, it would be bad enough – but it is much worse than that…
Consider this about Prime Minister Thompson’s conflict of interest over CLICO…
Thompson used to be CLICO’s lawyer – at a time when the company illegally failed to file financial statements!
Now Mr. Thompson refuses to relinquish control of the CLICO affair to an independent oversight by the courts and the Supervisor of Insurance.
Why does Thompson refuse to relinquish control when he has an obvious and serious conflict of interest?
Thompson is now telling the press that “buyers” have been found for some of the CLICO assets. Who are the buyers? Is Leroy Parris involved in any way with the buyers? Does Thompson have a piece of the action? (There’s no law against it in Barbados!)
Something is stinking rotten with the whole CLICO affair – and Prime Minister Thompson will not allow independent oversight & transparency with a public company!
Keltruth Blog, September 21, 2009: Barbados: Will CLICO Buyers Have Access to Complete and Accurate Financial Statements?
Keltruth Blog, March 6, 2009: Did Thompson’s DLP Have Audited Financials for the Companies that they Bailed Out?
Keltruth Blog, February 21, 2009: What is the Nature of the Relationship between Leroy Parris of CLICO and Barbados Prime Minister David Thompson?
Excellent Sept 20, 2009 Nation News article published only in dead tree version (not online) – click to read jpg.