Prime Minister Freundel Stuart refuses to read CLICO auditor’s report damning friend Leroy Parris

Is this conduct worthy of the Prime Minister of Barbados?

Barbados PM Stuart is in the papers saying that he won’t comment on the CLICO auditor’s report because he hasn’t read it. That sounds fair enough until you realize that the auditor’s report has been available since February 19, 2012: three weeks ago.

That means that Prime Minister Stuart is refusing to read the report or he’s read it but won’t admit to it.

Simply put – we don’t believe the Prime Minister hasn’t read the report by now. If he hasn’t read it by now, that is strategic neglect on his part.

Is this the leader of modern day Barbados? Does he really think he can make this go away by ignoring it?

“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

Former Prime Minister David Thompson covered-up for his friend Leroy Parris until he died. And that cover-up was not all friendship and loyalty: Thompson and his law firm represented CLICO and Parris during some of the worst abuses and most likely share great responsibility for the crimes. The auditors say that the Thompson law firm was involved in money-laundering for Parris and that David Thompson himself received unexplained CLICO funds. (CLICO Scandal: Leroy Parris charged criminally, Former PM David Thompson law firm money-laundered millions from CLICO to Parris)

Prime Minister Stuart is on record saying that Parris is his friend and a former law client. Stuart’s recent cowardly refusal to read and comment on the CLICO auditor’s report is unworthy of the Prime Minister of Barbados.

Further Reading

Nation News:

PM mum on CLICO

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Filed under Barbados, Consumer Issues, Corruption, Crime & Law, Political Corruption, Politics & Corruption

27 responses to “Prime Minister Freundel Stuart refuses to read CLICO auditor’s report damning friend Leroy Parris

  1. caribeye

    So our country’s leader is guiding the ship of state with his head buried in the sand? How sad is that?
    Doesn’t he know that Enron’s Ken Lay and Jeffrey Skilling were convicted for the same thieving and corruption? Telling Enron employees their ship was sailing free and clear on untroubled waters and urging them to buy company shares while stealthiily selling off theirs as fast as they could? Making up accounting figures to post publicly to fool the investing public and Federal regulators that their company was profitable. And what about Worldcom? Freundel surely you know about them? Same fraudulent accounting scams and selling of more financial products and shares to trusting investors? Mr. Stuart, where is the world’s biggest Accounting, Audit and Financial Advisory firm today? I mean Arthur Anderson. Do you remember that they were Enron’s Auditors and didn’t find anything wrong with their accounts? They gone thru de eddoes-cease to exist-because their credibility was absolutely destroyed! And you want us, the shareholders in the enterprise called Barbados to vote for you and the Party at the coming General Meeting that we hold every 5 years within the next 12 months?
    And do you remember what David Talkson said about CLICO Barbados not affected by the Duprey Crew’s multi-million dollar lick-de-money-out fest in TnT? We were safe! He iinstructed the Central Bank to provide a line of credit “just in case” for CLICO with our shareholders (TAXPAYERS) money! And the sales of Policies went on here even though this was breaking the Laws of Barbados which Talkson and you, Mr. Stuart ,swore to defend and uphold at Government House by your Oath of Office?
    You don’t have the cojones to ‘fess up and say, “OK, Talkson was as corrupt as Duprey and Parris and Thornhill and some Board members” but you will have the balls to ask us to vote for you and the Party within the next 12 months?
    If so many thousands of Bajans and Government employees in several of our sister islands didn’t have their Pensions and nest eggs for their golden years gone forever in Parris and Talkson’s CLICO this would be a funny scenario!
    IInstead, you have a company that has seriously and dangerously compromised the lives of tens of thousands of people while donating US$12 million to your party’s 2008 Election campaign and you seem to be in denial because Parris is your friend? “He is not a leper” or your words to that effect?
    Is there not a single drop of decency in you Sir? The most honourable and admirable thing you can do now is to resign from not only your position as the HoG but from the DLP which has been found corrupt, by a Forensic Audit, no less. Its corrupt golden-boy leader has wreaked mayhem and violence on tens of thousands of futures!
    Unbury your head, leave office and earn the respect and admiration of your fellow citizens for standing for what is right! Follow the example of Wesley Winfield Hall, Evelyn Greaves, Harold Blackman and others who resigned their Ministerial posts on a matter of Principle because they found their Leader in a lie! To this day, Rev. Hall has not been knighted by the Party he would die for because Sandiford can’t forgive him for calling him a liar on national TV!.Out in the public domain for all to see and hear! But are you as petty as that, Sir? Ponder these things.
    The sterling mark of a Leader is not doing things right-anyone can be trained to do so-but a Leader does the right thing! Ponder Mr. Stuart, ponder!

  2. caribeye

    What blame,if any should be heaped on CLICO’s Auditors? How did their failures and incompetencies affect, if at all, the continued fraud at CLICO and fail to arrest the outflow of funds to the Bajan and Trini Executive Wrecking Crews? Should they not bear some legal responsibility for their incompetency and lack of due diligence? Surely they are as responsible, no, ACCOUNTABLE, as any Executive officer of the CLICO group here? Ask yourself: “would you hire them to audit your company?” I didn’t think so!

  3. boarcatrules

    We are up to our necks and beyond by thieving, immoral, corrupt leaders and Freundel is the biggest.

  4. peltdownman

    It reminds you of someone who refuses to read his bank statements because he’s afraid of what they reveal. As for Caribeye’s comment,no doubt the shredder is hard at work already down there!

  5. X

    What an impotent leader we have. If I were him, I would be embarrased to admit that I hadn’t read the report. He should be actively seeking it out, not waiting for it to arrive – maybe he lacks the power to summon such things.

    We need someone with bigger balls.

  6. Helzapoppin'

    Shut up!
    You can’t blame the PM-He doesn’t know HOW to read.
    Just because a person is illiterate doesn’t mean he’d make a fine…..
    Never mind. I just realized something.

  7. Anon

    Read Wade Gibbons take on CLICO in Barbados Today. Really interesting and a different view.

  8. The Queen of England

    My Dear Colonial Subjects,

    It has come to my attention that your current Government is in something of a crisis.
    Not to mention what remains of your laughable economy.

    I do hope things will improve with a change of Government some time in the new year, since such things are always a breath of fresh air!

    Thank you for showing my son Edward a good time.
    he has briefed me about impressive and unimpressive individuals he met while on your lovely island, and has made recommendations.
    Incidentally, it’s nice to hear that all your roads are in well-paved, well-painted condition. Edward did appreciate that.

    In parting, I’d like to say what a genuine relief it was to foist alleged “independence” on the whole lot of you, back in the early 1960s.
    Goodness knows you were becoming an onerous millstone
    and it seems we dumped you lot just in time!
    I’m told that the island of Trinidad is the only one of you who remains genuinely independent, mainly because of hydrocarbon and other resources at their location, perched as they are on a corner of the South American continental shelf
    but the rest of you are in big trouble, it seems.

    I wish you all the very best for the future: seems you’ll sorely need it.
    Oh.. and do try to improve the quality of your leadership, in all matters.

    Royally Yours,

    Elizabeth II, Regina.

  9. Fru is TOAST

    Come election time, our current PM is toast!

    If D.Thompson was still around, the Dems might stand a better chance
    but what we are seeing now is not too impressive, other than to die-hard Dems who would vote in a dog.

    As lousy a proposition as Owen An De Bees are,
    at least he’s a ballsy little S.O.B. and probably what the island needs at this point.

    I am slightly more Dems than a Bee, and will probably vote for the Dems man in my dis-trick, because he is far and away the best man available
    (if I don’t deliberately spoil my vote jes to mek sport)
    but other than my personal vote, I reckon Barbados needs a change of Government
    and this should manifest itself nicely sometime after the turn of the year into 2013!

    The longer the Dems wait, the harder they fall.
    They will make history.
    They will be the first one-term Government in the island’s political history
    and that is becoming clearer and clearer with each passing week.

  10. what will they think of next

    BFP, fishing in a dry pond again.
    how you know that he refused to read the report?

  11. Piece of work

    try reading and understanding before you engage your fingers on the keyboard

    “That means that Prime Minister Stuart is refusing to read the report or he’s read it but won’t admit to it”

    Undoubtedly, the PM knows and understands the seriousness of the report but is willfully blind for his FRIEND? at the expense of the citizens.

  12. millertheanunnaki

    @ The Queen of England: March 12, 2012 at 4:12 pm

    A masterpiece! Worthy of the status of Baconian or Shakespearean style!

    The use of irony and euphemism is enough to make one utter: “We are amused!”

    Your Highness, may your loyal subject ask of you a favour? Could you please, Mam, request the current local top performer to take up the post of Chief Jester to your Court of Comedy Mime, and Skylark.

    Your Loyal Subject, the miller.

  13. lazy

    Dear Queen of England … please , please i beg of you, do retake back this land, and save us from ourselves. we gun pave all we roads from rockley to basheba , and send the subjects to obedience school.. ow please

  14. 63

    The report is an interim report meaning that it is incomplete and it was prepared for a select few related to the judicial management process to review. Additional information is required to complete the report prior to its submission to the authorities.

    Unfortunately for the Deloitte guys, the draft report was leaked to the Nation newspaper and a few others.

    How can we expect a respondsible Prime Minister to comment on a draft report which was not formally submitted to him. Is this the way for a PM to conduct the affairs of the state?

    I find nothing wrong with PM stuart’s approach. However, I find it quite nasty and unprofessional for Deloitte to leak the report to the Nation. Has the Nation Publishing company ever disclosed that they invested in the EFPAs of Clico and that they have a vested interest?

    Was CL Financial not a shareholder in One Caribbean media?

  15. watcher

    Who said “deny deny deny deny”….and what happend to him. Just a matter of time before it all comes undone.

  16. Anonymous Two

    Oliver Jordan is a big BLP supporter.

  17. Part of the Game

    Of course the report is only draft because Barbados rarely accepts or finalizes reports no matter how much international monies have gone to fund them!

    A final report would mean that Barbados would have to act and heads would need to fall.

    This is the rigorous discipline instilled by our international funding agencies who could insist on a final independent report if they wanted to.

  18. Jason Fellows


    The policy holders and investors in CLICO will be shocked to discover the goings-on since that company has been put under Judicial Management with Deloitte Consulting Inc in Barbados.

    I was going to write a long story with all the facts but I reconsidered and thought the the below evidence is sufficient to shock the public to the core:-

    1) BNB Cheque #00566 in the amount $480,000.00 drawn to Deloitte Consulting and signed by Jordan / Toppin and dated 30/05/2011.

    2) BNB Cheque #00568 in the amount $356,213.00 drawn to Deloitte Consulting and signed by Toppin / Marshall and dated 06/07/2011.

    3) BNB Cheque #00575 in the amount $400,000.00 drawn to Deloitte Consulting and signed by Jordan / Toppin and dated 28/06/2011.

    4) BNB Cheque #00582 in the amount $336,050.00 drawn to Deloitte Consulting and signed by Toppin / Marshall and dated 27/09/2011.

    5) BNB Cheque #00584 in the amount $450,000.00 drawn to Deloitte Consulting and signed by Jordan / Marshall and dated 14/10/2011.

    6) BNB Cheque #00586 in the amount $1,292,357.53 drawn to Deloitte Consulting and signed by Jordan / Marshall and dated 27/10/2011.

    7) BNB Cheque #00591 in the amount $1,248,081.56 drawn to Deloitte Consulting and signed by Jordan / Toppin and dated 29/11/2011.

    8) BNB Cheque #00594 in the amount $1,149,152.00 drawn to Deloitte Consulting and signed by Jordan / Marchall and dated 14/12/2011.

    9) BNB Cheque #00566 in the amount $480,000.00 drawn to Deloitte Consulting and signed by Jordan / Toppin and dated 30/05/2011.

    10) BNB Cheque #00597 in the amount $927,815.25 drawn to Deloitte Consulting and signed by Jordan / Toppin and dated 20/01/2012.

    10) BNB Cheque #00599 in the amount $1,609,855.75 drawn to Deloitte Consulting and signed by Jordan / Toppin and dated 24/02/2012

    Based on the above it would appear that by time the Judicial Manager is finished with CLICO the policy holders and investors will be 10 – 20 million the poorer.

    If they can’t get bread let them eat cake.

  19. More piggies at the trough

    Jason Fellows

    Thanks for the information.

    This sounds like another opportunistic gouge on policy holders who need some rape relief not more penetration and extortion.

    Where is the final report or is that another $5 million?
    not too mention a final report!

  20. millertheanunnaki

    @Jason Fellows:March 14, 2012 at 4:54 pm

    One wonders how much of the above was converted to Canadian dollars and remitted to The Canadian HQ for management services rendered? Another drain on our foreign reserves.
    But fellows, the BIPA policy holders were warned about these corporate vultures. BFP can attest to my many early warnings about this free and easy feast by the vultures on a fallen once-fatted calf. One estimates the final bill would be in the region of $12 million. All that would remain after the vultures in suits finished stripping most of the meat from the dead cash cow is for the corporate undertakers (lawyers) to come in and take their share via the sale of CLICO’s real estate assets before distribution of the remaining bones to the policy holders as a painful reminder to their very death that never trust insurance executives who have friends in high political, legal and accounting circles; including those sitting on the Board of Directors who are always prepared to turn a blind eye for the fees and kickbacks.

  21. Yowww!

    Dear Jason Fellows,

    Thank you for the detailed list of cheques!
    That amounts to a lotta RH Money, my friend.

    Sounds like a second rape, if yew axe me!

  22. Sunshine Sunny Shine

    Dear Mr. Prime Minister

    Permit me on this occasion to speak freely. If anything that I say offends you, I apologise with great sincerity but can you please tell me what voice is guiding you to exercise traits of idiocy or is your continued reticence reminiscent of one who does not fully comprehend their role as a leader. Please help me to understand because I am starting to get an impression of you that is not nice at all.

    Sir, you are labelled as the “aint saying nutten” minister of prime time silence. I mean they even wrote a song about you. Yet you continue to remain silent.
    Now a report that is sensitive to the passions of thousands of bajans affected by the CLICO affair, you in your casual manner can publicly announce that you have not read the report. Do you know how that sounded and how you came over to the people? Well let me tell you how it came over to me. It makes me think that you and your administration are so deep in the CLICO – Leroy Parris affair that your disinterest must reflect your loyalty to your benefactor if indeed you were a beneficiary.

    Mr. Prime Minister I must tell you that my confidence has been shattered over the years by the reign of the other party who for 14 years brought truimphs to this country but eventually those truimphs revealed their true nature in the form of arrogance, insults, threats, manipulation, misappropriation practices in government spending, personal interests and allegations of corruption. I honestly do not want to see them back at the helms of power. But your administration seems to be no different to them. I have not seen the change that would bring at least a few differences that would appease the people. By that I mean a change to the systems that allows corruption and embezzlement practices to be well hidden and protected. Your goverrnment has been charged with practices that are similiar to those of the opposition party. And the mere fact that Integrity, Transparency andAccountability Legislation has not transpired under your ministry is further testament to what your true agenda, with respect to the campaign speeches was, when the late Prime Minister David Thompson made that bold declaration of ITAL enactment in X days.

    Who therefore can I trust with my vote in the next election. I certainly do not trust the “Bee’s” because their stings are still fresh in my flesh. I am not sure if I could trust your “Dems” either since you make promises that you do not keep and find excuses (both of you) that you believe will be acceptable by a populace that are far more alert and educated than ever before. Yet I must cast a vote or simply do not vote at all. That is where you have led me, Mr. Prime Minister to doubt the sincerity of those that I elect to lead me and my country into the next era of prosperity that will be beneficial to all and not just a few.

    I would love for you to respond to my open letter but I know you will not, because you seem not to be touched to much by the infirmities of the feeble and struggling. Can you prove me wrong? Have a nice day

    Your sincerely

    Sunshine Sunny Shine

  23. millertheanunnaki

    @Sunshine Sunny Shine: March 16, 2012 at 12:55 pm

    Could not have presented it better in a 100 days.
    May the Sun turn its countenance towards you and bless you always!

  24. Backrah Johnny!

    I keep tellin wunnuh……Spoil wunnuh vote!

    DOAN stan home,
    go en vote but simply spoil wunnuh vote, fuh purpose!

    Dum got-to see dat we fed-to-RH-up wid ALL o’ dem!


    Spoil vote does nothing , will get the same ending,
    Vote for some other Person.New Names
    PM do not need to read about self, He is in this up to his gray hair
    The PM sucked as AG and now sucking as PM.
    You can stand on the corner and see all 3 buildings
    HIGH COURT, CLICO AND Sir Richard L .Cheltenham Ph.D QC,


    In or About 1994, CLICO
    Property Transfer Tax on 13 large properties costing Millions of Dollars, So CLICO can save money
    1 Todd Estate
    2Wake Field Plantation
    3 Hothersall Plantation
    4 Clifton Hall Plantation
    5,6,7 , 3lots at Wake Field
    8. Pool Plantation
    9 Durham House
    10.Star Discount , now Club Extreme Complex
    11 Rendezous Supermarket , now Trimart Rendezous
    12 Penrith
    13 Development land

    Property Transfer tricks to avoid the DEEDs and taxes.’ Names and dates ?
    info subject to change on your up date , This information was send giving to Us,Doing our best to let you know… We may not be 100% right , but we more right than Wrong ,ARR.

  27. 75

    bookmarked!!, I love your web site! thank you for insight into Barbados politics