Tag Archives: CLICO Fraud

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

Barbados continues the CLICO – Democratic Labour Party cover-up

In Trinidad…

“We are taking the position that CLICO was a massive fraud on the public.”

Ewart Williams, Trinidad and Tobago Central Bank Governor, July 6, 2012

Meanwhile, in Barbados there is no mention of the ‘special relationship’ between CLICO and the governing Democratic Labour Party.

No mention at all in this Barbados Advocate article or anywhere else we can find…

Green light for CLICO restructuring

10/27/2012

A plan to restructure CLICO International Life Insurance Limited has been approved by the High Court of Barbados. So too has been the completion of the Forensic Audit into the insurance company’s affairs.

Judicial Manager for the company, Deloitte Consulting Ltd. (represented by Oliver Jordan and Patrick Toppin), made the announcement yesterday afternoon in a press release. Continue reading

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Filed under Barbados, Corruption

The neighbourhood of CL Financial’s Lawrence Duprey

Hey… that sure looks like my place at Grape Hall!

“10 Harborage Drive, Fort Lauderdale, Florida

This spectacular Intracoastal estate home is located on a private gated island in the heart of the Venice of America. Built in a contemporary Mediterranean design, the home features an open floor plan with soaring ceilings and luxury amenities. This smart home offers both Lutron and Crestron entertainment and lighting effects. Special features include gourmet gas kitchen inside and out, gymnasium, large 3rd floor theater, sauna and up or downstairs master. The garage can accommodate eight cars.”

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Filed under Barbados, Corruption

Prime Minister Stuart won’t talk about this Clico issue…

Leroy Parris and good friend Finance Minister Chris Sinckler share champagne

The DLP protect Leroy Parris because they have to… or else!

Had former Prime Minister David Thompson lived to lead the Democratic Labour Party into the coming election, it would have been a very messy fight indeed… because Thompson was Clico’s lawyer when so much wrongdoing happened, and he knew about many contentious activities.

“It gets worse, much worse. Former PM David Thompson was in the thick of it in August 2007, prior to being elected. Thompson’s law firm took 4% of the purchase of CLICO’s new business jet for ‘legal fees’. We told you so, folks. We told you.”

… from BFP’s Former PM David Thompson law firm money-laundered millions from CLICO to Parris: How much came back to Thompson & DLP?

Voters remember that it was David Thompson who during the 2007-2008 election campaign voiced the DLP’s promise to bring integrity to government, and transparency in the government’s dealings in every area. He promised new laws and government rules to stop the abuses. It was David Thompson who held up a campaign cheque for $75,000 that Owen Arthur illegally deposited into his own personal bank account. Arthur stole that money from the BLP election coffers and Thompson proved it to Bajans and the world. (No one asked where Thompson got the cheque – it was, of course, stolen from banking records by a DLP supporter!)

So Thompson and the DLP were elected to provide integrity legislation, freedom of information, conflict of interest rules and to generally clean up what had become a government and civil service rotten to the core with corruption, injustice and nepotism.

PM Thompson Says His Use Of CLICO’s Business Jet Is None Of Your Business

Clico perks were cheap for the DLP, expensive for policyholders

Unfortunately though, it was also David Thompson who (once elected) spent days on end enjoying perks from his friends at CL Financial, including free business jet use. Continue reading

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Filed under Barbados, Business & Banking, Consumer Issues, Corruption, Politics

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

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

Stabroek News Editorial: Barbados DLP government on the way out due to CLICO corruption, Stuart’s poor leadership.

Arthur & Mottley licking their lips…

If Prime Minster David Thompson had lived, would even he have been able to hold it together in the face of the CLICO corruption revelations? We don’t think so. Nevermind our accidental and invisible Prime Minister Fruendel Stuart – he’s out of his depth as a leader of his party let alone as the leader of our country.

The saddest truth is that Owen Arthur, Mia Mottley and the whole corrupt BLP gang are headed back into power – at least according to today’s editorial at Stabroek News. For what it’s worth, we have to disgustedly agree that will be the result of the coming election.

If Thompson and the DLP had just kept their promises about Integrity Legislation and Freedom of Information… if they had just TRIED to be honest – to at least try to act for the good of the entire country instead of covering up for Leroy Parris, Bajans might have given them another term.

We’re faced with two corrupt groups wanting power… and the question has become this: ‘We know that the DLP and the BLP are equally corrupt. Aside from that, which party will provide the most capable corrupt government?’

Sad, isn’t it?

Further Reading

BFP readers are requested to visit Stabroek News to read Barbados approaching elections, but because Caribbean news outlets often change history and stories for political agendas, we have to reprint the entire story here. Please do visit Stabroek News to read the entire piece…

Barbados’ approaching elections

In less than a year now, Barbados will be going to the polls, following the last general elections held in January 2008. The signs are that both of the main political parties, but the opposition Barbados Labour Party (BLP) in particular, are once again gearing up, and the issues that will define the campaign are beginning to become clearer. Some of these showed themselves in the Budget debate held in March, when the governing Democratic Labour Party (DLP) had to indicate how it would come to terms with the current recession affecting the country and accumulated debt in the face of sluggish economic growth. The fact of the matter is that since the DLP’s return to office, the Barbados economy has been strongly affected by global recessionary conditions reflected in a contraction of economic growth in 2009 of 4.7%, and 0.2% in 2010, and an unemployment level sticking at around 10%.

In those conditions, the hope that was held out by the DLP’s sweeping electoral victory (20 seats to 10 for the BLP) has not materialised. This situation has not been helped by the early death of the party’s dynamic new leader, David Thompson, and then by the cloud of the CLICO disaster which continues to linger over the country, with its continuing effect of loss of income and savings by Barbadian policyholders. In addition, a certain distrust of the government has begun to develop as a result of increasing indications, bolstered by a recent report, of apparently corrupt practices engaged in by the CLICO leadership which had had close connections to David Thompson, both in his situation as a legal practitioner and as leader of the DLP which allegedly received strong financial support from CLICO. A continuing silence on the part of the new Prime Minister, Freundel Stuart, has not helped, giving as it has, an impression of inability to decide how to treat the CLICO affair. Continue reading

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Filed under Barbados, Political Corruption, Politics, Politics & Corruption

Barbados court orders CLICO criminal charges stayed against Terrence Thornhill, Leroy Parris

Unethical, Corrupt: CLICO Bigshots Leroy Parris, Terrance Thornhill

No surprise at all!

Come on, folks! You know that Leroy Parris was the godfather to one of Prime Minister Thompson’s children. You know that Thompson was CLICO’s lawyer. You know that CLICO gave oodles of money to the Democratic Labour Party and let them use the corporate jet. You know that as a lawyer Prime Minister David Thompson money-laundered funds from CLICO to Leroy Parris. That’s what the auditors say.

We poor CLICO policy holders are suckers. The poor taxpayers are suckers.

Leroy Parris and good friend Finance Minister Chris Sinckler share champagne

Nothing changes ’bout hey.

Forget about your children’s futures and education: you and your children will be a long time paying (it’s called ‘bailing out’) the elites who built that Ponzi house of cards called CLICO.

I’m sure there’s some good legal reason why High Court Justice Kaye Goodridge ordered the Barbados Police to put the CLICO criminal charges on hold. Always is some good legal reason for doing what is done.

It’s just that we predicted this months ago. Futures destroyed, pensions gone, lifetimes of work and savings stolen… and nobody will ever pay.

Nothing changes ’bout hey. Nothing. Ever. Changes.

Further Reading

Nation News (read it at the Nation News website here)

Stop Order

Commissioner of Police Darwin Dottin has been ordered to stop the criminal matter brought against the president of CLICO International Life, Terrence Thornhill, at least for now. Continue reading

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