Daily Archives: April 1, 2010

CLICO Leadership caught in corrupt conflict of interest – “So what?” says Barbados Prime Minister

Picture this for corruption…

According to the Nation newspaper, in 1993, CLICO Chairman Leroy Parris and President Terrence Thornhill started their own little insurance company on the side that offered the same products as CLICO. (Keltruth Blog says it was registered 1986-04-16)

Hey… where do you think the customers for “Professional Financial Services Incorporated” came from over the last 17 years? Good old Leroy Parris said to people he knew “Don’t sign up with CLICO, sign up with Professional Financial Services Incorporated and get a competitive product for less money”.

That’s where those customers came from. Parris took customers that would otherwise have signed up for Clico’s products. How many customers, how many dollars did Parris take over the last 17 years? Maybe David Thompson should ask him.

Unethical, Corrupt: CLICO bigshots Leroy Parris, Terrance Thornhill

It’s like the President and CEO of Ford decided to manufacture autos to compete with Ford on the side while still taking the paycheque from Ford.

What a scum of the earth thing to do.

And given that Prime Minister David Thompson made his old buddy Leroy Parris the CEO of the Caribbean Broadcasting Corporation, how much of this important story do you suppose will hit the airways?

Hey… Prime Minister Thompson: Watcha gonna do ’bout all this nonsense?

Right. Nothing.

That’s what we thought…

Here is the article from The Nation. Friends, you should visit the Nation website to read it, but we’ll repost it here in full because the paper has a habit of revising history…

CLICO QUERY

by WADE GIBBONS

QUESTIONS HAVE BEEN RAISED about the involvement of two senior CLICO Holdings Barbados Limited officials in a private insurance enterprise offering services similar to those of their Whitepark Road, Bridgetown company.

The WEEKEND NATION has learnt that both chairman Leroy Parris and president Terrence Thornhill are directors of the company, Professional Financial Services, which was incorporated in 1993 and offers similar business as their subsidiary CLICO General Insurance, including home insurance. CLICO General Insurance was recently sold. Continue reading

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Filed under Barbados, Consumer Issues, Corruption, Crime & Law, Freedom Of Information, Offshore Investments, Political Corruption, Politics, Politics & Corruption