Daily Archives: April 12, 2013

West Indies Cricket Board embarrassed by Verus International fiasco

Barbados Advocate got fooled too... "The private merchant bank, which operates primarily in New York and Barbados, officially launched the new franchise-based Twenty20 tournament yesterday."

Barbados Advocate got fooled too… “The private merchant bank, which operates primarily in New York and Barbados, officially launched the new franchise-based Twenty20 tournament yesterday.”

Caribbean Premier League forgot to ask “When is a bank not a bank?”

by Googly Spinner

Verus International not a bank in Barbados!

Verus International not a bank in Barbados!

The West Indies Cricket Board just learned a lesson about the word ‘assume’. It’s that old lesson that if I ‘assume’ something it can make an ‘ass’ out of ‘u’ and ‘me’. Ass-u-me.

Yes, the Caribbean Premier League was a multi-million dollar deal with a big press announcement, pretty girls, lots of champagne and little cracker things – but somebody didn’t do their homework. Now all involved are more than a little embarrassed by the Barbados Central Bank announcement that the league source of funding and investment, Verus International ‘Merchant Bank’, is not a merchant bank in Barbados.

Verus International is nothing more than a name in a shoebox on a shelf in one of those cozy little offices where a thousand offshore companies operate from a single desk. It is not licensed to operate as a bank in Barbados but even the news media called Verus a “Private Merchant Bank operating in Barbados

That’s Barbados offshore corporations for you and that’s alright so long as everybody knows how things are… except that Verus International claimed they were a merchant bank operating in Barbados. The Versus International website doesn’t say that now, and they replaced their old website with a single page while they pedal faster to remove all the evidence on the internet. The Wayback archives never forget though!

Whether Verus International is licensed to be a Merchant Bank in Barbados might matter or it might not. Not much of the offshore money stays here anyway – Barbados is mostly a transit point for moving funds around, not a final destination.

Or… the lack of a banking license and government oversight and regulations might be important if things go bad.

Not a good beginning for the CPL deal because it shows that the West Indies Cricket Board management doesn’t do their basic homework and due diligence. That fault can make any organisation meat on a stick for the predators who can smell weakness and inexperience from miles away.

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Filed under Barbados, Business & Banking, Cricket

Barbados lawyer shows backside to judge, tells her to “Kiss my Ass”… and the judge runs away!

kiss my ass judge

How much is rumour? How much it true?

I don’t know much about normal behaviours by lawyers and judges because I try to avoid contact with those kinds of people at all costs. What really happened in the Nation’s story? Who are the people?

But I have a feeling that when this type of behaviour goes unpunished (if it happened as rumoured), it’s really all over. And what’s with the judge running away? What does that say about how the judge views her authority? What the #$@! is happening ’bout hey?

Hopefully this will not be another incident like gun in Parliament where the public were left not knowing what really happened but the respect for Parliament was undermined.

From The Nation

Legal Shocker!

AN INCIDENT earlier this week involving a veteran attorney at law and a High Court judge has left the legal fraternity in an uproar.

According to reports a Queen’s Counsel after a verbal outburst directed at the female judge, turned around and backed her, lifted his robe and bent over while uttering a profanity. Continue reading

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Filed under Barbados, Crime & Law