Tag Archives: Fraud

CARICOM Crime and Security Chief under investigation: Corruption, Fraud

Lynne Anne Williams accused of “Corruption, Misappropriation, hiring of unqualified staff, fraudulent accounting practices”

The Implementation Agency for Crime and Security (Impacs) is headed by Lynne Anne Williams, who took over in September of 2009. She makes US$14,000 a month plus expenses, but that wasn’t enough so she created phony travel expense invoices and pocketed the money.

Anyone ever heard of “Darreyl’s Bungalow Short Term Accommodation” in Barbados? Nope. Me neither.

But Lynne Anne Williams stayed there and billed for it.

And that is nothing, just a flea bite compared with all the allegations we’re seeing in the Trini press. Yup, Williams; visited Barbados for a 20 day security meeting that never happened and she billed for the whole thing – right at Crop Over too. Must be a coincidence!

“This signifies a clear recognition by the Caribbean Community….of the danger that unchecked financial crime poses to our economic and political systems” said Lynne Anne Williams, the Executive Director of CARICOM IMPACS.

Lynne Anne Williams speaking about money-laundering back in January 2011. What a joke!

Yup, it’s really hit the fan at IMPACS, and it’s not just Williams either. The allegations are flying and it’s not he-said, she-said stuff because copies of the phony invoices are in the hands of the newspapers.

So what will happen? Come on folks… you know what’s going to happen in the end. Lynne Anne Williams will quietly retire, no charges will be laid and it will all fade away. Because…

Our Assessment: Williams is guilty as hell, but will never be charged because before coming to IMPACTS she headed the Special Intelligence Agency for 14 years and nobody is going to mess with what she knows.

Who will watch the watchers? Continue reading

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Filed under Barbados, CARICOM, Corruption, Crime & Law, Ethics, Police

Standford International Bank Bars Withdrawals – Charges Laid In $9 Billion Dollar Fraud

“We are alleging a fraud of shocking magnitude that has spread its tentacles throughout the world”

… United States SEC Director (Fort Worth, Texas) Rose Romero in the TimesOnline

Sir Allen Stanford’s House Of Ponzi Cards

The economy pulls back and the facades of integrity and competence presented by many of the super rich start cracking. We’re not even mildly surprised anymore to hear that another financial empire was sustained not with integrity, skill and intelligence, but by the simple technique of using the funds of new investors suckers to provide apparently exceptional returns for existing investors – thus attracting more new investors suckers just like the great swindler Charles Ponzi did in 1920.

For the last few weeks, desperate people have been trying to get their money out of Standford’s schemes: lining up every morning near the airport in Antigua without much success. Sir Allen will probably not go to jail. Very few of his wealth do. And you can bet that he and his friends had plenty of warning to sock away twenty or thirty million or more against the day.

I find that after the last six or eight months, I look differently at all the flamboyant high-flyers.

I also look very differently at their friends in governments everywhere who allowed this to happen, and who are so reluctant to hold any of these crooks accountable.

Not Much Different In Barbados

In Barbados the first politician on the list is Prime Minister David Thompson who has obviously cut a gentleman’s deal with the BLP that no one will be charged no matter what was done. Think about Thompson’s speeches, Hardwood Holdings, the GEMS hotels scandal where hundreds of millions disappeared and the houses that your tax money paid for that were never built.

No one has been charged. No one has been fired. No money has been recovered: not a single dollar.

And in the middle of all that, David Thompson still refuses to prohibit government officials from issuing contracts to companies they own. He still refuses to prohibit government officials from receiving “gifts” from companies they issue contracts to. And, oh yes, the Barbados Anti-Money Laundering Authority has no staff, no address, no phone, no email and no fax number. (See Barbados Money Laundering Advisory article Does The Barbados Anti-Money Laundering Authority (AMLA) Really Exist?)

Welcome to more of the same, my friends. It’s a downer and not what you want to hear… but it is true nonetheless.

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Filed under Barbados, Business & Banking, Corruption, Crime & Law, Ethics, Offshore Investments