Tag Archives: CIBC FirstCaribbean International Bank

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

Queen’s Counsel and former Barbados ‘most wanted suspect’ wins CIBC First Caribbean contest!

Now…

CIBC First Caribbean Barbados Contest

2013…

Mark Goodridge named Queen's Counsel Barbados

Mark Goodridge named Queen’s Counsel Barbados

2006…

Mark Goodridge mugshot

Mark Goodridge mugshot

Barbados Lawyer Wanted For Beating Of Teen – Thoughts Of Racial Tension, White Privilege & Black Attitudes

Customer heading off to Miami thanks to CIBC FirstCaribbean

Bridgetown, Barbados, May 15, 2015The Barbados grand prize winner in CIBC FirstCaribbean International Bank’s recent “Give More, Get More” promotion is looking forward to enjoying a trip for two to Miami.

Mark Goodridge, 62, was presented with his prize recently at the bank’s Warrens branch. Recalling how he reacted to news of the win, Mr. Goodridge said, “I was very shocked because I never expected to win, to tell you the truth. I did know there was a competition but I didn’t know what the prizes were.”

The long-standing customer said that he finds the bank’s credit card products easy to use. “They are also accepted wherever you go, which is a big plus.”

Mr. Goodridge, an attorney-at-law, isn’t sure when he will take his trip to Miami but said that he and his wife were looking forward to visiting three grandchildren there. Along with the trip for two, Mr. Goodridge also received hotel accommodation and US$500 spending money. He thanked CIBC FirstCaribbean for the “courtesies it had extended over the years.”

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Filed under Barbados, Crime & Law, Culture & Race Issues