CL Financial disaster: Did Trinidad and Tobago Finance Minister Karen Nunez-Tesheira get her money out?

Afra Raymond digs deeper…

“The 325 (CL Financial) shareholders are listed alphabetically, as at 7th September 2008, with details of their occupations and addresses also supplied.  Of course, that list shows, at #289, the then Minister of Finance – Karen Nunez-Tesheira – as Karen Tesheira, Attorney-at-Law – holding some 10,410 shares.”

“Another thing that is striking is that Lawrence Duprey would appear to have only three blocks of shares in his ownership –

  • #47 – CL Duprey Investment Trust – holding 1,634,335 shares, but we are unable to find the details on that company.
  • #78 – DALCO Capital Management Company Limited of #37 Frederick Street, POS – holding 1,947,833 shares. I am assuming that DALCO is a play on his initials – Lawrence Andre Duprey LAD, reversed.
  • #302 – Trustees of CL Financial Limited – holds 119,145 shares.

I am taking that to mean that Lawrence Duprey had under his direct control a maximum of 3,701,313 shares – i.e. 49.35% of the group’s entire shareholding…slightly less than half.”

Further Reading

Afra Raymond posted a story with CL Financial’s Annual Return filed 2009 and as usual he’s like a terrier worrying a bone: he won’t let go. Good for you Afra! Keep at ’em!

6 Comments

Filed under Barbados, Business & Banking, Consumer Issues, Corruption, Crime & Law

6 responses to “CL Financial disaster: Did Trinidad and Tobago Finance Minister Karen Nunez-Tesheira get her money out?

  1. Anonymous

    Mr Raymond, at last Leroy Parris has decided to resign from the company of all CLICO subsidiaries in Barbados and the eastern caribbean, but still the government have not named a judicial manager for the investigation into the company they claim they are going to do. it would be a burning shame if tax payers money will have to be spent to repay all these claims, when this man beside being payed for a job he did not do well, and still claiming 30 million dollars being owed to him. I will maintain if this was any other jurisdiction he would be in jail. Only in the caribbean these things can happen and the tax payers have to pick up the bill.

  2. Johnny Postle

    You ain’t hear what the Fruendel Stuart the right honourable PM said about his friend Leroy Parris. THe man alluded to letting justice takes its natural course so that means Leroy Parriss will get his money, will not be penalised for his crime and maybe just maybe others will get some of the money too.

  3. Roger rabbit

    It was not only Karen who got her money, there were people in Barbados who were advised by their friends that were on the Board of Directors to withdraw theirs as well and so did the members of the Board. Bajans sitting down and taking this matter very likely whilst Parris enjoying the big life with the millions not only in Barbados but Miami as well

  4. Concerned policyholders and investors in CLICO and BAICO in Barbados are continuing their efforts to organise themselves to protect their interests, and to get back the money which they invested in the two companies.

    They will be meeting on Wednesday 30 March 2011, at the Anne Johnson Auditorium of the St. Gabriel’s School, Collymore Rock, to strategise with experts and fellow policyholders and investors on the way forward. Legal counsel will be on hand to offer free advice on the most appropriate courses of action. http://bit.ly/gyywO3 – “Clico Evidence Part 1”