CL Financial – CLICO fraud: Dr. Terrence Farrell wilfully blind?

Protecting Sacred Cows…

Our old friend Afra Raymond takes issue with the former Deputy Governor, Central Bank of Trinidad and Tobago, Dr. Terrence Farrell and Farrell’s statements in support of the bank’s outgoing governor, Ewart S. Williams.

Considering that Ewart Williams knew in 2004 that CL Financial Group was having serious trouble and was in violation of the law – and that Williams and the Trinidad Central Bank did nothing until the house of cards collapsed, Dr. Farrell’s praise is indeed misplaced and almost comical except for the great human tragedy that the Central Bank’s failures contributed to.

Always an excellent read at AfraRaymond.com:

“The entire scenario reeks of corruption in the highest offices in the Republic and on the largest possible scale.  We are witness to an epic swindle being carried out on our Treasury and in broad daylight.”

from Afra Raymond’s new article The Sacred Cow

8 Comments

Filed under Barbados, Business & Banking, Consumer Issues, Corruption, Economy, Trinidad and Tobago

8 responses to “CL Financial – CLICO fraud: Dr. Terrence Farrell wilfully blind?

  1. akabozik

    I confuse Dr. Farrell with the comedian of the same last name! He is arguing that the Central Bank did a good job? With CL Financial? Really?

    Man must take us for de fools.

  2. WSD

    David Thompson was Clico’s and Leroy Parrish’s lawyer and you wonder why nothing was done? Clico didn’t file financial statements for almost ten years and nothing was done.

    Same old same old.

  3. 190

    i thought it is alleged that LESLIE HAYNES Q.C. was Parris’ attorney

  4. corruption exposer

    Leslie Haynes Q.C. was a Director on the Board of Clico and Baico in Barbados. He was also Senior Counsel to the companies. So surely he had to know the most intimate details of the companies dealings?…and advised them?

    how could this all happen with such a well qualified corporate attorney on the Board?

    Haynes would surely have ensured best corporate governance practice and this would include prpper minutes of all Director meetings. even if the companies have “lost ” the minutes then surely all the directors will have their copies?

    have the judicial managers reviwed to minutes of Board meetings to assist in tracking the “lost” millions of poor people money?

    Haynes Q.C. represents, in some dubious legal dispute, .a well known south coast hotelier in Barbados who has not filed financial statements with government registry for 10 years; although required to do so by law.

    and that hotelier has not filed tax returns for many years….. and where important corporate documents disappeared……strange similarities!!!…sounds familiar!!

    and other “infelicities”…..this being the word Haynes used to describe the money laundering activities of his client L Parris / Parris company with David Thompson’s office. Haynes is an ex President of the Barbados Bar Association…..so there can be no question about his integrity……so why did he and all the other directors resign and run from the stink that they seemed to direct? Freundel is an attorney as well………..seems that is why he is looking the other way?

    does Haynes have anything to say on all this?……more questions than answers …..i will post them later!! .

  5. POLITICS; BIG UPS; ATTORNEYS.........AND A LOT OF POOR WORKING PEOPLE WHO RELIED ON GOVERNMENT........WHAT EVER DAMN DIRTY PARTY

    CLICO “”DIRECTORS MEETINS””…AND BRITISH AMERICAN.

    you saw in CLICO TRINIDAD that the director “meetings”…….read cocktail parties for the vagabonds??? only lasted 5 minutes…..total sham meetings…..SHAM!!!!………..and the so called “directors” got $5,000 …U.S.???….for 5 minutes sham meeting???? pigs at the trough???…..grunt grunt…give me more….i cant get enough…………..
    doan worry bout INFELICITIES……..MY LAWYER AND POLITICIAN FRIENDS WILL PROTECT AND COVER UP…………..especially if we do more dirty work for them and the party!!!!…….right FROON????

    so these fees…..paid in Barbados???…..or overseas in U.s. ??…….Central Bank of Barbados……fast asleep??…..not interested?….looking the other way?…like FROON??……how was all this money put overseas without the involvement of Barbados Central Bank??…could not happen?…..who from Central Bank went jet setting?….any $75,000 gifts in that direction??!!!!!
    did these “directors” declare these fees on their tax returns????????!!!!!!
    these “Director Meetings”…..monthly…4 or 5 hours…….serious business to direct…………..let us have clarification on these questions; AFTER ALL…..THE DIRECTORS ARE RESPONSIBLE!!!!!!!!!!!

    HOW MANY OF THE DIRECTORS HAD FREE RIDES ON THE CORPORATE JET…….TO GREASE THE WHEELS???………OWN UP…WHAT DOES THE PASSENGER MANIFEST SHOW…….SOMEONE…LOOK IT UP…..lests hear who did the most jetting at the policy holders cost!!!! ;
    apart from Q.C. LESLIE HAYNES, senior counsel to CLICO and BAICO

    ANTHONY ( TONY ) “BEANS” ELLIS, CHARTERED ACCOUNTANT; EX SENIOR PARTNER IN PRICE WATERHOUSE COOPERS…PWC…………WHAT A COINCIDENCE PWC ARE / WERE THE AUDITORS OF CLICO / BAICO!!!!!!!!!!!!1FANCY THAT NOW????!!
    SO DID ELLIS CHAIR THE AUDIT COMMITTEE?????????…….SORRY….SILLY ME….WAS THERE AN AUDIT COMMITTEE???……….PWC…….SPEAK UP…..WE CANT HEAR YOU??!!!!
    PWC WOULD HAVE HAD TO ENSURE THERE WAS AN AUDIT COMMITTEE GIVEN THE CIRCUMSTANCES…….WHERE ARE THE MINUTES OF THAT COMMITTEE??????
    PRICE WATERHOUSE……….THEY WERE THE AUDITORS OF TRADE CONFIRMERS THAT WENT BROKE OWING BARBADIANS $30,000,000 OR MORE ABOUT 25 YEARS AGO………….COINCIDENCE……………..I HOPE OTHER FINANCIAL INSTITUTIONS IN BARBADOS HAVE INDEPENDENT QUALIFIED AUDITORS WITH AN EQUALLY GOOD SUCCESS RATE IN AUDITING.

    K H L “TONY” MARSHALL…..EX BARCLAYS BANK INTERNATIONAL; SENIOR EXECUTIVE; ANOTHER WITH EXPERT KNOWLEDGE ON THE BOARD OF DIRECTORS……….SO HE MUST HAVE FULLY UNDERSTOOD WHAT WAS GOING ON AS WELL……..MIND YOU THE DEMS DROPPED HIM LIKE A DEAD FISH FROM CHAIRMAN OF THE NIS FUND NOT SO LONG AGO………..NO CONFIDENCE??????/

    SIR HILARY BECKLES; EMINENT BUSINESS MAN; ONE OF THE LARGEST EMPLOYERS IN BARBADOS THROUGH UWI; EX DIRECTOR BARBADOS MUTUAL; SO….ANOTHER DIRECTOR WHO CANNOT DENY KNOWLEDGE OF WHAT WAS HAPPENING??

    DAVID THOMPSON DOING THE MONEY LAUNDERING……HAYNES Q.C. REFERRED TO THAT AS AN INFELICITY ;

    LEROY PARRIS THE PUPPET MASTER………A LOT OF BULL GOIN DOWN HERE….IF U KNOW WHAT I MEAN???!!!!!!

  6. QC

    189
    ….that is all??….you accept this?………..you dont want change before these robbers leave us for dead?
    did Thompy really have pancreatic cancer????????
    did he really leave $33,000,000 ($33million )…
    how did he amass that fortune?……………why wont the Registry release a copy of Thompys estate details….another FROON cover up?????
    where will this all lead to?
    are Thompsons kids really his?

  7. PLANTATION DEEDS FROM 1926 UP TODAY A ND SEE MASSIVE FRAUD ,

    DLP and BLP ,CLICO PARTIES AND BIG NAMES ARE MASTERS OF FRAUD.
    Many of the now dead big men dont even own what they leave in wills for family and others. These people did not own most things dealing with land nor the funds they made of the fraud.
    Most people read and never look in to the C.S. I OF their crimes when living nor dead.
    Greed and lies is the order of the day and how many lived.
    Where are the true investigative reporters in all this media?