Tag Archives: Corporate Greed

CLICO SCANDAL: Lawrence Duprey’s Wife Bought Yet Another Florida Mansion As The Company Was Failing

Mrs. Duprey Is Also CL Financial Board Member!

Mrs. Duprey Is Also CL Financial Board Member

Mrs. Duprey Owns 4 Florida USA Mansions On The Same Street – Worth Over US$14 Million

At the same time that CLICO parent CL Financial was failing, Sylvia Baldini – Deputy Chairman of CL Financial and wife of big boss Lawrence Duprey – bought a fourth mansion on her Florida street for a cool US$3 million dollars. Yup… Mrs. Duprey owns four homes in Florida.

That sure makes me feel good about Barbados Prime Minister David Thompson handing 10 million dollars to bail out failing CLICO Barbados without hardly a thought. What security did Prime Minister Thompson receive for the ten million dollars? Hey… none a your bidness!

Keltruth Blog has been doing some online research and appears to have come up with a way to identifiy Florida real estate owned by non-residents!

Oh…..!!!! This should be fun. 🙂

Has anyone looked up “Owen Arthur”???

Don’t go to Keltruth unless you want to be even more infuriated…

Keltruth Blog: CLICO: Sylvia Baldini’s Four Multi-Million Dollar Homes In Florida!

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Filed under Barbados

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

Barbados Awards Oil Rights To Company Responsible For Worst Environmental Mining Disaster!

“Every (year) over the past twenty years, the Ok Tedi mine in Papua New Guinea (PNG) has dumped 80,000 tons of waste into the Ok Tedi and Fly Rivers. The result has been an environmental disaster that has destroyed thousands of square kilometers of rainforest and caused terrible hardship for local people…

Australian mining giant BHP Billiton was the major shareholder in Ok Tedi Mining Ltd (OTML) and the mine operator until early 2002. At this time, the company handed over its majority stake in OTML to the newly formed and ironically named Sustainable Development Project Company.

This quiet revolution demonstrates the power of transnational corporations in PNG. With the transfer, BHP gained legal indemnity from PNG government action with respect to all the pollution and destruction it has already caused and will cause in the future. The government surrendered its sovereignty, failing to protect its citizens by setting environmental standards and monitoring corporate activities.” … Friends of the Earth International

BHP Billiton Destroyed A Country, Took The Profits And Then Transferred The Mess To Another Company To Limit Ongoing Liability – JUST LIKE SHELL DID IN BARBADOS

I don’t know whether to laugh or cry at this my friends.

Prime Minister David Thompson and the Democratic Labour Party have just awarded the first Barbados offshore oil exploration rights to a company that does hit and run environmental disasters.

Thompson awarded oil contract to a company known to bribe government officials

No Rules: Thompson awarded oil contract to a company known to bribe government officials

You know the type of company that goes into a small country and rapes vast areas without a care about destroying the environment? That is BHP Billiton. A company that brings long-term sickness that injures thousands. A company that leaves malformed babies and miscarriages in its wake. Then after they make hundreds of millions, they “sell” the entire operation and leftover mess to some little nothing of a shell company so BHP Billiton can walk away without liability for the disaster.

Then they go to another little country like Barbados, pay lots of bribes and start all over again.

Oh… and here is the BEST PART….

BHP Billiton themselves started as a little company that SHELL OIL used to walk away from an environmental disaster! You know, the same SHELL OIL that walked away from the environmental damage they caused in Barbados with jet fuel. (see To HELL with SHELL – Barbados Boycotts Shell)

That is BHP Billiton.

Full story and many links at Keltruth Blog’s Barbados Awards Offshore Oil-Exploration Rights To Company Responsible For Worst Environmental Disaster

Prime Minister Thompson: I am ashamed that I once supported you and your government.

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Filed under Barbados, Corruption, Disaster, Environment, Ethics, Human Rights, Offshore Investments, Oil, Political Corruption, Politics, Politics & Corruption, Wildlife