Tag Archives: Bahamas

Banking executive from CIBC’s FirstCaribbean International Bank carried FIFA bribe!

Why would a CIBC FirstCaribbean International Bank executive travel from the Bahamas to New York to personally pick up a US$250,000 cheque?

Why not just wire the funds? Why not send the cheque via courier?

The answer appears to be that the US$250,000 was being money-laundered by one of FIFA’s top officials, Chuck Blazer. After picking up the cheque in New York, the banking executive returned to the Bahamas and deposited the cheque into Blazer’s personal offshore account.

I didn’t really catch onto this at first. I thought it was a situation where the CIBC had been unknowningly duped or had a client misuse the bank. But that isn’t what happened according to the articles in the press – the CIBC FirstCaribbean International Bank was directly and knowingly involved in money-laundering.

Surprised? You shouldn’t be. Anyone who has seen the award-winning documentary about the 2008 meltdown – Inside Job – knows that the banks are rotten to the core, and in conjunction with bribed elected and appointed officials ensure that the motto of the inside crowd remains “Profits are private. Losses are public.”

Closer to home just look at Clico and the Barbados DLP government.

But for you and me though, just miss a mortgage payment or don’t pay taxes and see what happens. Wuhloss!

FIFA scandal exacerbates Canadian banks’ Caribbean troubles

An eyebrow-raising disclosure in the U.S. indictment of FIFA officials is that a representative of a Caribbean bank made it easy for one allegedly illegal transaction to be done by flying to New York to personally collect a check and then returned to deposit it in an account in the Bahamas.

This unusual courier service, which reduced the electronic trail on a $250,000 payment to former FIFA official Chuck Blazer in May 2011, was provided by an unnamed officer of Barbados-based CIBC FirstCaribbean International Bank, the indictment shows. CIBC FirstCaribbean is a subsidiary of Canadian Imperial Bank of Commerce, Canada’s fifth-largest bank.

That cheque, U.S. prosecutors allege, was part of a $10 million bribe paid in return for the votes of then FIFA vice president Jack Warner, Blazer and another FIFA official in support of South Africa being granted the rights to host the 2010 World Cup.   Continue reading

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Filed under Barbados, Business & Banking, Corruption, Offshore Investments

Bahamas Member of Parliament gets it wrong about Barbados election financing

Former Bahamas Attorney General probably believed the lies

Bahamas Member of Parliament Alfred Sears is holding up Barbados as an example in his campaign to outlaw secret political contributions.

“Mr. Sears, who was a guest on Love 97’s Sunday talk show, Jones & Company, said in many countries, like Barbados there is legislation against (secret political contributions).”

While we wish Mr. Sears all the success in the world in his quest to bring transparency, integrity and accountability to the political process in the Bahamas, we have to correct his mistaken notion that Barbados is a model to be followed.

  • Barbados has no election financing rules
  • No public disclosure requirements for political donations.
  • No Freedom of Information Act
  • No Integrity Legislation
  • No Conflicts of Interest rules.

Election Financing in Barbados: Anything goes

Barbados politicians are allowed to accept secret donations from any person or company, whether Barbadian or not. There is no limit as to the amount of money they can accept, and no restriction on politicians or their family members from receiving personal gifts or employment from companies that do business with the government or want to do business with the government.

click for large

As an example, if some political supporter wants to give $75,000 to a politician as a “campaign donation”, there is no legal requirement for the politician to reveal the donation publicly or even to place the donation into a designated bank account. ‘Matter a fact, our former Prime Minister Owen $ Arthur was caught out depositing a $75,000 “campaign donation” into his very own personal bank account. (cheque photo above)

Goin’ wid Owen would have gotten away with it except that then Opposition Leader David Thompson got up in Parliament and showed a copy of the cheque. A shamefaced Owen Arthur had to say “oops!” but no laws were broken. And that’s the way Barbados politicians want it!

Opposition MP Dr. William Duguid came right out and said that Barbados politicians would never pass integrity legislation or a Freedom of Information act and he was telling the truth.

Barbados politicians brag about Integrity Legislation and FOI “coming soon” but it never comes.

Bahamas MP Alfred Sears probably went to some conference where some lying Barbados politician told him that we have FOI, Integrity Legislation and Election Financing Laws. It’s happened before to another Caribbean politician as we’ve previously reported. (Clive can you dig up the story please, I’m off to work. M.)

Both the BLP and DLP have promised Integrity Legislation and FOI for decades but they lied. A few bills were proposed but always die before they pass into law. Then the government calls an election and says “We tried but those rotters in the opposition spoiled our efforts! Elect us again and we’ll finish it this time!”

Although Freedom of Information and Integrity Legislation are talked about, NOBODY TALKS ABOUT ELECTION FINANCING LAWS! Oh no… noooooooo way Barbados politicians will even talk about Election Financing limitations and disclosure rules. You mek sport!

So our best wishes to Bahamas Member of Parliament Alfred Sears, and he shouldn’t worry that the Barbados politicians fooled him. Those lying bastards have been fooling Bajans for four decades and we keep believing them – so you can hardly blame Mr. Sears for believing them too.

Further Reading

The Bahama Journal: Outlaw Secret Contributions says MP

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Filed under Barbados, Corruption, Crime & Law, Ethics, Freedom Of Information, Political Corruption, Politics, Politics & Corruption

Bahamas Volleyball Team Robbed Of Everything From Barbados Garfield Sobers Locker Room – Complaints of “Lukewarm” Response By Barbados Police & Volleyball Officials

Bags, Passports, Credit Cards, Laptop PCs, Thousands Of Dollars In Equipment & Possessions Stolen

Barbados Bahamas Volleyball TheftThis won’t go over too well anywhere. Last Friday night the Bahamas Women’s National Volleyball team were playing at Garfield Sobers and were ordered by Barbados officials to move all their bags to a locked room for security.

After the game they returned to find everything – and we mean everything – stolen. Clothes, passports, wallets, jewellery, cameras, ipods, laptop computers, credit cards, watches… you name it.

One would think that as a courtesy to visiting teams, the Barbados Volleyball Association might have provided someone to keep an eye on players’ possessions – you know, so we wouldn’t have foreign news media reporting a mass theft against our guests and our country’s “lukewarm”, disinterested response.

So what does the Bahamian team really think of the response from the Barbados Police, the Barbados Volleyball Association and others to their plight?

For the answer you’ll have to read the Nassau Guardian – because it might be a while before you read about their thoughts in the local media…

The Nassau Guardian: Bahamas volleyball team robbed in Barbados

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Filed under Barbados, Crime & Law, Sports

When Police Become Thugs: Bahamas Night Raid Terrorizes Mother and Child – Memories Of Barbados Police Ronja Juman Abuses

You are the mother of a seven year old child and you are both at home sleeping and at 4:30 am you are awakened by loud banging on your front door with someone shouting “open the door or we will break it down”. You start to frantically search for your keys and at the same time you hear a banging on the back door. By the time you get the door open both you and your child are terrified. Seven immigration officers rudely enter your home and start to terrorize you and your child. You offer to show them your Bahamian passport and you are rudely brushed aside. Not one of them states the purpose of their intrusion and they leave as abruptly as they entered.

I saw the fear in this young woman’s eyes. I saw a picture of the mallet that was used to break her gate. I could feel her anger because her home was invaded and she does not know why, nor has anyone apologized, nor has the Minister met with her as promised, nor has she been able to contact him or anyone else at the Immigration department.

… from Weblog Bahamas article Is the Bahamas becoming a frightened society?

Unholy Alliance: Sergeant Paul Vaughan (left) & Charles Leacock - Barbados Director Of Public Prosecutions

Unholy Alliance: Sergeant Paul Vaughan (left) & Charles Leacock - Barbados Director Of Public Prosecutions

News Media Continues Cover-Up Of Corrupt Activities By Barbados Director Of Public Prosecutions

A story of abuse by Bahamian Immigration authorities reminds us that it is time to once again mention an unresolved story of corruption and abuse by the Barbados Director of Public Prosecutions, Charles Leacock. Unlike the lapdog Barbados news media, we at Barbados Free Press don’t let a story fade from the public memory just because it is convenient for the elites – who are so powerful that they don’t bother to answer corruption allegations even when the incriminating documents are posted online for all to see.

The Corrupt Relationship Between A Dirty Cop And Our Director Of Public Prosecutions

Just before Christmas, 2006, Barbados Director of Public Prosecutions Charles Leacock told his police friend, Sergeant Paul Vaughan, to collect some back rent owed to him by a former tenant named Ronja Juman.

Sergeant Vaughan used an illegal, blank, pre-signed search warrant to raid Ronja Juman’s home in the middle of the night with some of his fellow thugs. Juman was dragged off to the police station where she was strip-searched and humiliated by a VAGINAL SEARCH!

Over back-rent. And no… the Barbados police didn’t find any back-rent money in Juman’s vagina.

For Sergeant Paul Vaughan of the Royal Barbados Police Force, the middle-of-the-night raid was all about terrorising the woman and her child to get back rent for his friend DPP Charles Leacock. There is far more to the story and none of it is good. (The links are at the end of this article.)

So when we read the story on Weblog Bahamas about a middle of the night Gestapo-like “visit” by authorities there we decided it is high time again to remind the Bajan public that just because the cowardly “professional” news media won’t cover a story, it doesn’t mean that the incident isn’t newsworthy.

In fact, the refusal of the Barbados news media to cover a story is often proof that a cover-up is in progress.

Read the stories, view copies of the original documents online and make up your own mind about corruption by the DPP, the police, the courts, the government and the news media…

Barbados Free Press Articles

September 18, 2008: Corrupt Director Of Public Prosecutions Must Now Prosecute His Corrupt Police Friend For Accepting Bribes!!!

January 30, 2008: The Strange Disappearing Court Cases Of Barbados – And How The News Media Keeps Silent

November 5, 2007: We Publish All The Documents: Barbados Director Of Public Prosecutions, Police Sgt Paul Vaughan And The Blank Search Warrant Scandal

October 12, 2007: Barbados Police Given Blank, Pre-Signed Search Warrants By Corrupt, Lazy Judiciary

September 24, 2007: Barbados Director Of Public Prosecutions Charles Leacock – Ordered Police Thuggery Over His Tenant’s Unpaid Rent – Night Raid, Woman Strip Searched Over Unpaid Rent!

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Filed under Barbados, Corruption, Crime & Law, Human Rights, Police, Political Corruption, Politics & Corruption

Clico and Barbados: So Many Unanswered Questions, So Many Suspicious Activities By Government And Friends Of Government

“Wife came home last night with the story on how the whole CLICO thing unfolded for them. Seems some one in the Bahamas had 100 million invested with CLICO and needed the money back, because they (Bahamas) were in tights!

CLICO doesn’t have 100 Big Ones sitting around to handle large redemptions, and couldn’t borrow that from any Bank in T&T and so was forced to approach Gov’t.(central Bank) to cover dey ass. Word then got out about this ‘failing’,  and a run started.”

“On another topic – what I “discovered” about CL Financial is that it is a PRIVATE company and evidently does not publish financial statements available to the public! How can a financial institution, particularly one of that size, NOT have to publish its financial reports? Anyone who invested one cent in that group deserves to lose their funds. That situation is a total disaster and should not be allowed to happen again.”

… above taken from some emails making their way around in Barbados.

Barbados Central Bank Bailout – In Exchange For Exactly What?

The story that is being given to the Bajan public is that CLICO’s Barbados interests and subsidiary are entirely independent from the troubled Trinidadian parent company and therefore we Bajans shouldn’t worry. Oh… “they” say that all those millions that the Government of Barbados pledged to CLICO’s benefit are “just in case” and “to show faith” in the company.

Barbados Money Laundering Advisory this morning points out some of the false information that we are being told about CLICO Barbados.

For instance, did you know that CLICO Barbados made loans to the Trinidadian head corporation for US$50 million? That my friends is over 10% of the insurer’s asset base that is probably worth less than nothing now.

PM Thompson Says His Conflicts Of Interest Are None Of Your Business

PM Thompson Says His Conflicts Of Interest Are None Of Your Business

To Whom The Benefit?

Barbados Money Laundering Advisory’s concern with where our bailout money is going is reflected in the email displayed at the top of this article. CLICO parent company CL Financial is a PRIVATE company that publishes no financial records publically.

IF you had control of where your personal tax dollars were invested, wouldn’t you demand full disclosure before you loaned money to a private company? Wouldn’t you want some real and unencumbered collateral to back the loan?

CLICO Barbados owns some rather nice land that just happens to be smack in the middle of the proposed Graeme Hall National Park.

The Barbados Government should not have loaned that money to CLICO – they should have purchased that land for the people of Barbados!

Too bad that Prime Minister Thompson couldn’t exert any pressure on his old pal Leroy Parris. After all, we’d hate to have to give up those free rides to New York and Miami on CLICO’s business jet, wouldn’t we Mr. Thompson?

Further Reading

Barbados Money Laundering Advisory: Is “Weak” CLICO Barbados Subsidiary Bankrolling Trinidad HQ?

BFP: Clico On Life Support – Will Barbados Prime Minister Thompson Favour His Patron Leroy Parris, Or The People Of Barbados?

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Filed under Barbados, Business & Banking, Consumer Issues, Corruption, Crime & Law, Freedom Of Information, Offshore Investments, Political Corruption, Politics, Politics & Corruption