Anonymous tip: Deloitte Consulting taking millions from CLICO for ‘oversight’ services

“May 30, 2011 to February 24, 2012. For management and oversight services: $8,729,525.09”

BFP Editor cautions: The following was submitted anonymously. This is the internet folks: anonymous and with a touch of Bridgetown in ’37. Take it with some salt until it’s confirmed, okay?

CLICO – A rape victim… but who are the rapists?

Submitted anonymously by someone using the name 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.

16 Comments

Filed under Business & Banking, Consumer Issues, Corruption

16 responses to “Anonymous tip: Deloitte Consulting taking millions from CLICO for ‘oversight’ services

  1. lent

    If true your revelations are shocking makes one ask if the Fowler woman knows of this the same way she knows which Ministers are minority ones.

  2. A BIPA supporter

    Please don’t ask the PM to question this. HE HASN’T READ THE REPORT YET AND HE IS NOT COMMENTING UNTIL HE HAS. High hopes billy goat that this entire matter will simply disappear without him having to ever read nor understand the report. I hope he will fully understand and appreciate it after the elections and he and the party standing outside Illaro Court looking in, saying but we was there Freundel, is a nice house!

  3. A BIPA supporter

    WHAT TO SAY BUT. OUCH and more of the same. I am amazed at those charges as I had heard they would be high but these are exorbitant

  4. STAGGERING!

    Just staggering!!

  5. peltdownman

    The PM is kicking the can down the road and sincerely hopes that he will never have to deal with it.

  6. peltdownman

    But y’ent all know that Jordan and Parris are buddies?!

  7. WOW and WHEW

    Wil someone hurry up and give this woman June Fowler her $ 8,000.00 out of Clico before the JM takes all of it, and maybe when she got paid her Clico $ 8,000.00 dollars she will run off and pay back the $ 45,000.00 that she borrowed from the taxpayers money of the Enterprise Growth Fund that she borrowed from and never paid one single repayment back to the EGF and while she is at it she can also payback the money she and her husband stole from the Nation.

  8. millertheanunnaki

    @peltdownman:March 15, 2012 at 11:33 am
    “But y’ent all know that Jordan and Parris are buddies?!”
    Big time! The Chris boy who everybody hates is also part of the rearguard fraternity. That’s why the political campaign “millions of dollars” contributions would never be revealed. That was part of the deal to let LP be the fall guy with the promise to receive only a ‘slap on his wrist’ with $1,000 lightweight whip. This would appease the masses. After all, dead men can tell no tales so the $3.3 million and others would soon be put to rest.
    Mr. P has protection both within and without. Mr. Untouchable, he is!
    Ask yourself how come an Island Scholar like Olie can be a great admirer of LP the ‘greenverbalist’ just like the dead King and his replacement Mr. Wordsmith. It can’t be intellectual chemistry, is it? Can’t be pals from school days with a buddy bonding linked by a tie? Cant’ be play friends from the same village playing ‘cocky-knocky’ under the cellar or in the canefield? Or is it the conman game played by big men called jumping on one another’s back for a hue and cry while laughing at the gullible policyholders

  9. FearPlay

    I have been watching too many movies and that is probably why this thought just crossed my mind – suppose, just suppose one of these players has video footage and/or digital photos of people in high places do the unthinkable? Would that be encouragement enough to persuade those with the power not to pursue legal action? I don’t know, just thinking.

  10. Rapist Hunter

    What the hell am I reading? $8.7 Million to find $3.3 Million. Something must be wrong with my arithmetic. Time the Government remove them and let the regulators take over and find a buyer for Clico. This is real shit. And what wrong with this June Fowler woman? What exactly does she want the PM to say about the report. The government give them the job and they ain’t even have the courtesy to give the PM a copy of the report. They want firing. So now we really know who is the real Rapist. SMFH.

  11. BFP

    Hi FearPlay,

    It’s probably not as dramatic as that. Let’s see the ‘political donations’ from Harlequin to the DLP and BLP in Barbados and other political parties and persons throughout the Caribbean.

  12. 63

    What the hell does June Fowler et al have to say about this? Oliver Jordan and Toppin are the real rapist here. They go on a nasty personal witch hunt, refuse to send a copy of interim report to PM or Minister of Finance and meanwhile grabs about $1 million per month for themselves. Thieving dishonest criminals they all are.

    As for the greedy policy holders – no brainless poor people lost money with the EFPAs. Why should my hard earn no-rsik money be used to bail out a greedy bunch? Had they made a great return on their investments I would not have received a cent from them.

    The DLP Government has identified a process to solve this complex matter and it should be allowed to take its course. Do not be pressured by the Nation newspaper who invested in EFPAs and may loose some money. Also as they talk about DT and money earned from Clico, look at how much Roger Forde and Pat Chentleham made from Clico in fees – last count was about $5 million – and they are BLP lawyers.

    I am truly sick of the nasty hyprocrisy from all persons – Bees, dees, lawyers and policy holders.

    As for June Fowler – where is the money that her husband Robert Fowler stole from teh Nation? What about the 45k she owes to Enterprise Growth Fund? She is a thief from taxpayers. She has no morale authority to criticize the Government.

  13. 172

    Robert Fowler always struck me as being a smartman…
    so allegations of theft etc………………….heh heh heh heh…

    Ah boy.
    One Smart duz dead at Too Smart door!

  14. rastaman

    See the Central Bank governor is back in the fray.Tells CLICO clients not to expect any cash .Maybe he expects that they will die before they receive any monies.

  15. Marvin Bareback

    These costs for forensic accounting work on such a large scale are not unusual……I am familiar with the asset recovery business in fraudulent cases. Everyone is thinking that two people are working but it is normal to have 20 or 30 accountants working to make sense of the records plus a few attorneys working on every document/agreement/ etc. Let’s not forget the 12 million in fees taken (by statutory rate) for the bankruptcy of Barbados Sugar Industries…..when funds on this scale go missing, the professional fees are large….get used it to it folks…it is only beginning.

  16. Anonymous34

    Yo Rastaman,

    They will die before they receive any monies!

    ……………………………………….

    P.S. I see no reason why you and I the long-suffering taxpayer at 17.5%
    should be bailing out a bad gamble that folks made with a private enterprise!

    Had they read the fine print on the contract they signed when they were getting in, all enthusiastic!, they would have noticed there were no guarantees.
    Now dey get thief, it’s tears all around and the taxpayer must bail them out.
    I say NO to that.