Tag Archives: Offshore Investing

Caribbean Money Market Brokers Limited (CMMB) failed – but you could say it was planned

CL Financial Scandal gets more sordid

The slogan of CL Financial’s CMMB was “Intelligent Investing” but the reality is shown by their return on assets for the five years before their collapse:

2005 – 1.22%
2006 – 0.97%
2007 – 0.0015%
2008 – 0.0043%
2009 – 0.0094%

Yours truly, Robert, managed to average an annual 7.32% return on my personal investments over the same period and I know virtually nothing about investing.

There are big, big questions about the CL Financial, CLICO debacle: most of them unlikely to be answered by those with dirty hands. Our friend Afra Raymond kicks off the new year by continuing to ask questions in his usual devastating manner which I liken to a stiletto in the heart of the CL Financial and CLICO “executives” and their enablers: the politicians and PricewaterhouseCoopers auditors…

Given the very low profits earned during CMMB’s operations, there are two inescapable questions arising – “What is the real reason for the CL Financial group to hold onto this company?” and “What was in it for them?”

From the new AfraRaymond.com article The CMMB story

PricewaterhouseCoopers – Devouring widows’ houses

“Which devour widows’ houses, and for a shew make long prayers: the same shall receive greater damnation.”

Luke 20:47, King James Bible

How many lives did PricewaterhouseCoopers ruin because they did not do their duty? Continue reading

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