Consumers Guarantee Insurance Limited of Barbados is approved to purchase the assets of CLICO.
The secretive committee formed by Barbados Prime Minister David Thompson to keep CLICO skeletons in the closet worked swiftly to sell the remaining assets before the public realises that the fiasco was caused by three factors: mismanagement, fraud and a lack of proper regulation, oversight and accountability.
Earlier media reports spoke of criminal activities and a billion dollar asset that turned out to be a worthless piece of paper, but don’t expect to hear anything more about the issue. Prime Minister Thompson has done all he can to ensure that no public inquiry will be conducted – starting with his refusal to put CLICO Holdings under judicial management.
Oh… did we mention that CLICO’s top dawg, Leroy Parris, is the Prime Minister’s best friend and godfather to one of his daughters?
No conflict of interest there folks.
Don’t expect the Mottley Crew to say too much either, because much of the shenanigans happened when the Arthur/Mottley BLP Government was in power.
Although there will be much said, there’s not really much else to say folks – because everything is being kept secret, especially the amount that this debacle cost the taxpayers of Barbados.
Nation News: CGI Wins CLICO Bid