CLICO, CL Financial: Trinidad and Tobago Director of Public Prosecutions calls for criminal actions against Duprey, others

Clico CL Financial Fraud

Trini DPP’s letter to Attorney General flowing freely on the internet

A September 10, 2012 letter from the Trini DPP to the Attorney General Ananad Ramlogan calling for Criminal actions against former CEO Lawrence Duprey is circulating freely on the internet and amongst professional journalists in the U.K. and throughout the Caribbean. Carefully worded news articles by the T&T Guardian, Caricom News Network and others report snippets of the letter but don’t quote even 1% of the juicy stuff.

We at BFP aren’t quite sure what we’ll do with this story. Do we publish the entire letter? Some? Bits and pieces?

The letter says that the DPP doesn’t intend to provide details to the public to “in order to avoid others destroying evidence and concealing assets.” Then there follows 25 pages of highly detailed facts including secret companies, secret deals and dirty deeds done dirt cheap on the backs of the public and little shareholders.

We have a feeling that “others’ already have a copy of the DPP’s letter and are busy shredding away records and selling assets if not already done, probably years ago!

But still, we can’t bring ourselves to publish the entire letter right now.

What say all, folks? Should we? Should we not?

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23 Comments

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

23 responses to “CLICO, CL Financial: Trinidad and Tobago Director of Public Prosecutions calls for criminal actions against Duprey, others

  1. 26

    Duprey should have been the first person in Jail

  2. 26

    Duprey should have been the first person to be Jailed

  3. A policy holder

    Providing there are no legal ramifications or adverse consequences to the BFP then PUBLISH. The Government of Barados and the our AG and DPP must cease the endless cover ups, and begin to level charges at those such as Directors, Supervisors, whomever, who sat back and ignored what was going down and are now running behind a wall of lawyers and law firms!

  4. PLANTATION DEEDS FROM 1926-2012 AND SEE MASSIVE FRAUD ,LAND TAX BILLS AND NO DEEDS

    First, tell US one CASE that the AG of Barbados has taken up for the People.What is the role of the AG in Barbados? What is the role of the DPP in Barbados ? The AG and the DPP to go after All crooks and all fraud cases and crooks . The CC Countries need to have their own over all AG and DPP to go after all cases where the local AG and DPP will not put in court , Barbados have to many CROOKS on all levels.

    If others were allow to look at the cases in Barbados they will never leave busy,busy busy. They will have to expand the jail for another 30 million to lock them up. lawyers will be cut by 80 percent and the rest will run off the Island.

    Lawyesr in Barbados dont own the land that they sell or rent but the true owners never get the funds for the land or houses.
    The GG need to report to Queen and have Scotland Yard , Mi 6 , CIA ,DEA FBI . then the cock roaches will RUN ,RUN RUN , RAID.RAID RAID
    Barbados learn well from Madoff and Standford . lets see how long it will take for the LAW to catch up with them ,,The clock is tic tic ticking .
    Barbados is on the watch list of the WORLD and the US Agents will track them all down in the End , Soon WARRANTS will be at their door steps , Passports will no longer be used JAILED at home.
    We will have to fall before WE can grow
    Vote them out Barbados

  5. Go for it BFP, hy heroes – publish the whole shebang!!……”Providing there are no legal ramifications or adverse consequences to the BFP…” as written by A polcy holder. Now, I want to ask, who are the governments of Barbados and The Eastern Caribbean going to sue? Dog eat dog, yes??!!

  6. In deciding on such a matter I think we should all think carefully on how we can best proceed so to maximise the chances of the authorities being able to get back the money and returning it to the policyholders, depositers and the like. I agree sending the guilty parties to jail is what we want too but the money belongs to peoples savings and pensions and the like their need is the most important thing just now.
    Thieves and robbers are often caught but seldom do the victims get back all their goods for one reason or another.

  7. sith

    who was their lawyer and was he not the person suppose to be making sure things were done correctly.

  8. Delicious information for us…please bfp

  9. Why wouldn't you publish?

    Since this letter is written by the DPP, why wouldn’t you publish, given the countless policyholders who have suffered at the hands of abusers of the public trust?

    Are you being threatened with the usual libel chill?

  10. Sunshine Sunny Shine

    Anyone wondering if justice will be served in the Barbados version of the CLICO saga. Doan hold ya breath Leroy well protected

  11. Tudor

    Publish full details. Read the T&T Express – see what is going on in T&T. The Guv of the CB says under questioning that the CB was “unable” to take action against CLICO while admitting that Duprey did as he liked and made all of the decisions like buying the Jamaica Liquor Company against all advice.
    Both Duprey & Parris should be brought before the Courts shameful

  12. A policy holder

    I think everyone fully agrees that DUPREY and his gang members all must come before the courts but should that happen, and pray God that it does, the filth which be exposed, is surely going to have tentacles which will attach themselves to many more who would had to clear any Government or legal obstacles out of the road. Those ensnared are automatically accessories to the crimes as much of what has gone down is criminal fraud. In a previous comment, Dodds will need a White Collar Wing, but furthered his comment saying LP is well protected! Is this protection in the form “if I go down a lot more going down with me” and thus the rogues are circling the wagons! It’s interesting times and I find it hard to believe either party, DLP or BLP can walk away from 30,000 Clico / Balico investors. THEY ARE POTENTIAL VOTERS!

  13. A policy holder

    This is very hypothetical but should the CLICO matter finally make it to the courts, there will be an enormous amount of money distributed in legal fees! It not likely that lawyers for the defendants will be working Pro Bono. If the same 30,000 investors were to stand firm on who they choose to do their legal work it might cause a few wrinkles! Why hire a someone who is working vigorously to see you don’t get anything from CLICO but still expects you to give them your support. This method of boycotting is often employed where a company or vendor of a particular item is boycotted by customers to illustrate their dissatisfaction with the company or item!

    Has any one given any thought to the POWER OF BARP?

  14. Publish it, we know somebody in TT will go to jail. Bim??? Hmmmmmm……..NOT SO SURE

  15. The DPP and AGs in Bim only go after poor black people to jail them and make examples. However, the so called ‘rich elite’ are always given a free pass. Let’s see how many will go to jail after all this embarassment and exposure.

  16. Sunshine Sunny Shine

    Like said Leroy well protected. There is no justice in Barbados for the rich and prominent. Leroy nor none of his beneficiaries will be touched. THe only ones who will suffer is the policy holders. If you want justice then u have to get it from the outside…

  17. When it is so difficult to get justice by behaving responsibly and honestly, you can see why people who never intend to behave honestly just do as they please with impunity. If it is better and easier to ignore rules and laws why should we all not do so? Hang on a minute are are all just doing as we plesae now ? Like I missing out.

  18. PLANTATION DEEDS FROM 1926-2012 AND SEE MASSIVE FRAUD ,LAND TAX BILLS AND NO DEEDS

    The lawyers 20 to 25 years ago are now Judges and will not over rule the fraud they did as a back then. Each other wrong doings will come in front each other and Rule in their Favor to keep the Fraud going.

    We need a real Attorney General and he must not be a Minister.

  19. Rastaman

    I am not an Accountant so I need some learned person to enlighten me.
    BNOC states that the company had $22 million in retained earnings at the end of 2007.However there were losses in 2008 &2009 which caused it to go to deficit position of $118 million at the end of 2009.
    My first question is
    ‘Which Government was in power in 2008 &2009 and therefore whose responsibilty was it for these losses?
    Secondly if there was a bond of $160 million to rescue the company assuming in 2010 where did this money go since there was still a shortfall of $44 million at end of March 2011?
    In my limited knowledge something does not make sense and I always heard “you can fool some of the people ALL the time and all the people SOME of the time BUT not ALL the people ALL of the time.”

  20. A policy holder

    More about CLICO…. I had the opportunity of reading an unabridged article about Clico, the Central Bank of Trinidad, and the Government. Mr. Williams who was the first CB Governor admits quite freely that when the insurance companies came under CB there were few laws and regulations to deal with the insurance companies and further more what laws there were had no teeth. Surely some one in the very important position as the Governor of Central Bank should make a thorough study of the institution he was about to run and to insure it was possible to run it with the support of the law! If the Governor failed to do this he, to my way of thinking, has failed in his fiduciary duty to the people of Trinidad. He has been grossly negligent. HE DOES ADMIT HE TRIED TO DEAL WITH DUPREY BUT IT WAS ALWAYS ADVERSARIAL AT BEST and thus he was always compelled to virtually negotiate with DUPREY and even after DUPREY made commitments he seldom honored them and there was nothing he could do. Sounds as though DUPREY was running Trinidad in the background.

    The question I’d like explained to me is what is the part the Governor of the BARBADOS Central Bank played in this Clico / Balico. Millions of dollars were moved out of Barbados, any B’dian company has reams of forms to be completed to purchase ANY FOREIGN EXCHANGE. Where did the final authority come from to remit millions to Trinidad and other islands? Does this final permission lay in the ands of the PM? If so once again DT was in this filth up to his ears! Is the Central Bank operating under toothless laws to control the banks and our insurance companies. How does the Financial Services Commission fit into the picture? Do they too, operate with a bunch of toothless laws and regulations. The Barbados Companies Act is specific, with SPECIFIC PENALTIES, yet there seems to be serious attempts to duck these laws.

  21. iWatchya

    PUBLISH! Maybe it will shine a light on these cockroaches.

  22. Haven’t heard people described as cockroaches since I lived in new york. How very apt and perfect for the ones deserving it.

  23. PLANTATION DEEDS FROM 1926-2012 AND SEE MASSIVE FRAUD ,LAND TAX BILLS AND NO DEEDS

    BLP and DLP same Massive Fraud PONZI team. Owen as PM and Mia as AG and David Simmons as AG and CJ . Along with Sir C.O Williams, Sir Richard L.Cheltenham , DE Fraud Barbados . These good Crooks is no better than Madoff and Sir Stanford.
    If you all think that the only PONZI was done in the United States think again. What ever happens in America come to Barbados next.This is now Barbados turn to feel the pain of Massive Fraud by this group. BUT the true owners of the land have a Plan to fix.

    Freedom of Information Act was talked by the DLP.
    Once in Office they see why they can not or will not pass it.
    If they pass it now All of Barbados will see the truth
    Audit of the Island Books will show that the records have been re- written and books and pages missing from the Island History.
    Archives and land Registry ram sacked , hidden , removed papers to hide what Some did ,and others covered up for gains in there over seas off shore bank accounts. Both BLP and DLP living well above their means.
    Beatrice Henry 1892-1985 Will to Violet Beckles 1918-2010 Will to her Heirs.
    After probate in 28of1986 done by Sir Sleepy Smith , Sir Cheltenham was given the Plantation Deeds to Ascent in the name of Violet Beckles.
    Sir Ham kept the deeds and told Violet Beckles he cant find them.Sir Ham then went in to business with C.O Williams.The 18 page statement signed with the Police Fraud Squad in 2009.Police took copies of over 90 Percent of the Information including Plantation deeds .
    When Violet died Aug 23rd 2010 and the PM David died Oct 23rd 2010 the police stop looking .

    The web site http://www.plantations.bb was remove this year 2012 that was to show who owned Plantation and Slaves in Barbados from 1630 to modern times 2012. .
    C.O Williams listed as to own 1 plantation cane field 238 acres. If even that is to be true.
    In 1756 on the Maps of Barbados the Maps will show 2 plantations in the name of Agard and 3 in the name of Jemmot. The Family names of Beatrice and Violet.Those name do not show up in any records of Barbados.Inland Revenue even remove Beatrice Henry and Violet Beckles from there records hoping no one will look or ask for them.
    The so-called 10 greatest Bajan and the Two Queens of Barbados not even listed as even being on the Island , The birth papers and the death papers are here and the same graves at St Mary’s Church in the City.
    The massive Fraud was looked in to and report confirmed the truth . covered up 2002 report called it a Massive Fraud.
    Moving The Land To Please was always heard on the TV and radio by C O Construction .
    This is why the BLP and Now the DLP have to sell over priced land to overseas people and Investors.
    Why people claim they dont know whos the owner are. Law One , All land have an Owner.
    1630 we knew 1730 we knew, 1830 we knew, 1913 we knew 1920 we knew 1926 Beartice Henry bought up 200 to 300 of the over 400 Plantations that makes up All of Barbados and of that 231 Sugar Plantation listed.
    Most whites leave the Island during WW1 and WW2 sold their Plantations, as sugar prices fell, at Auction by D”Arcy Scott.As far back as we see to Beatrice Henry.The records show us from 1926 to 1978 recorded on print out of 1980 and other Deeds showing 1926 and the next 50 years. The Family of H.W Clarke worked for Beatrice Henry for over 50 years as surveyors.
    Next CLICO.its Also clear to us that the BOOKS of CLICO was stuffed with the Plantations to boost the PONZI bottom line. To fool investors to come in with there money like British America .. 9%return on your money and the Banks was at 3%?
    The Al Barrack deal also build in the Lands of this Estate, not paid for, High Court not paid for, Oval not paid for, ABC high way not paid for, Oil in the not paid for, All dealing with land.
    This is Why things are the way they are , looking into this from 2007 front page news over 200 sites found , By DEED ALONE HIGH COURT move against land fraud. Printed but nothing was done as you see investors leaving the island for there are no CLEAR titles to be found,
    New RULES on FRAUD, OH hide it with lies for 20years and now you have GOOD title ,,NOT , Still Fraud, need clear title ,The brake in title between the Land Registry and the Archives is 20 to 30 year GAP , Most lawyers to make the land deal or sale will only go to 20 year and be done.
    Today the PM area is Brittons Hill area or the Baylands? The deed we have is for 286 acres and there is no listing for this plantation in records of Barbados , Ghost Plantation and there is more not even listed.
    Violet paid over 50 lawyers for more than 20 years to lie to her and then take from her deeds
    Land Tax Mr Ford , land tax number moved to other names with out deeds, Mr Cummings with the UDC land Bank with no deeds. Inland rev wiped names off list, Banks Kept her funds or missing, Water company turn on water for crook to make money of rentals but not the owners with deeds,
    The Estate is to have 4000 house ? and all other built buy application and with out Permission of the Owners.
    Any Questions? Ask who you look to VOTE for If they cant answer then they are Lying
    Sorry to Much to LIST.
    Ask your question here? or in Person