Sinckler: “Bajans aren’t mature or intelligent enough to see raw or incomplete data. They might draw conclusions different from what the government wants.”
How else should voters interpret Mr. Sinckler’s recent statement that the 30-day judicial manager’s report on CLICO International Life Insurance Limited should be kept hidden? Mr. Sinckler wants the big-ups and elites to put everything together in a tidy little report that directs Bajans to whatever conclusion the elites want to sell us.
“Let’s get this straight, Mr. Sinckler: Bajans don’t trust you or your government to tell the truth about CLICO.”
The late Prime Minister Thompson was way too close to CLICO’s Leroy Parris. David Thompson was also CLICO’s lawyer when proper financial statements weren’t filed for ten years. And when it all hit the fan for CLICO and CL Financial, Thompson used the power of his Prime Minister’s office to deny judicial oversight. Not to mention the cushy job he gave to Leroy Parris at the CBC that allowed the government to control the news about this fraud.
“We know now that on May 15, 2005 while acting as CLICO’s lawyer, David Thompson signed a secret contract between CLICO and Leroy Parris’ private company that in effect deceived shareholders into believing that Parris was being paid less than he really was.”
…from the BFP article Leroy Parris’ defence of Prime Minister David Thompson rings hollow now
Friends forever: Finance Minister Sinckler & Leroy Parris chatting over champagne
Finally, the DLP received big money from CLICO in the form or political donations and who knows what else on the side, including executive jet use for free when the cost was tens of thousands of dollars or more per ride. The DLP was brought into power in good part through the big money of CLICO.
That was OUR MONEY that was given to the DLP. The money that policy holders and investors placed with CLICO in good faith and it was sucked out of the company into phony land purchases, mansions in Florida and who knows how much into YOUR POLITICAL POCKET MR. SINCKLER.
Answer the policy holders this Mr. Sinckler, or sit down and shut up:
“How much did the DLP Democratic Labour Party and the candidates receive from CLICO and associated companies and persons in the last 15 years?”
Until you answer that question Mr. Sinckler, just sit down and shut up. We’ve heard enough of your opinions on how this fraud should be investigated, thank you.
A policy holder and a victim.
You should go to Barbados Today to read the story about Sinckler, but we’ll reprint the entire passage here because the Barbados news media has a habit of re-writing history and deleting stories, and that includes staff at Barbados Today who used to be at The Nation.
So read the story at Barbados Today, but if it’s gone, then read it here…
“Irresponsible” and “highly unusual” is how Minister of Finance Chris Sinckler would deem publicising the recently-completed interim-report on life insurance company CLICO.
The official said today he was all for Barbadians having “full disclosure” of the judicial manager’s report on British American Insurance Company, currently available for perusal at the offices of the Financial Services Commission, but he thought it “inappropriate” for the 30-day judicial manager’s report on CLICO International Life Insurance Limited to be similarly treated.
He was responding to questions from the media this morning after touring the FSC’s offices at Walrond Street in the City.
Last week CLICO judicial manager Deloitte Consulting Limited announced it had completed and submitted its interim report to the High Court in line with a May 29 deadline, but said the release of the document’s contents was up to the court.
This drew a swift response from the recently formed Barbados Investors and Policyholders Alliance, which called for the report to be “made available within the shortest possible time”. That body also criticised the way people were allowed to read the BAICO report and that no copies could be made.
But Sinckler suggested making the CLICO report public might end up doing more harm than good since it was not a conclusive document.
“Don’t forget … the report which was submitted by the judicial manager is an interim report and therefore you can imagine that there would be a lot of open-endedness to that report, a lot of dots following on to suggest that there are other things that have to be done, other facts that have to be gathered,” he said.
“So therefore an interim report it would be highly unusual, indeed … irresponsible for such a report to be spread all over the place when you really can’t tie off the appropriate ends, and a full investigation has not been done.”
The minister said Barbadians “need to understand that the role of a judicial manager is not like a receiver, it … is much more complex than just wrapping up a company or a set of companies and disposing of the assets”.
“There is a lot of investigative work that has to go on to establish what has taken place, to satisfy the court that the business of the institution was managed appropriately and that any such fallout may not have been from malfeasance, but may be of a more general and generic nature, and then to make suggestions as to how the issue can be resolved,” he stated.
“So therefore with a wide spectrum like that of responsibilities, it is, I think, a little inappropriate that after one month of review that a judicial manager’s report can just be spread all over the place to everybody for people to both entertain and come to unfortunate, inappropriate conclusions as to things which may or may not have happened.”
Sinckler said Government had nothing to hide on the issue, but that as was the case when the final BAICO report was released through the FSC, “the report is the property of the court and therefore access, I think, ought to be sought through the court”. (SC)