The news that the Deloitte Judicial Manager has taken action to recover $3.3. million dollars paid to Leroy Parris via Thompson & Associates has flushed out Laroy Parris and his credentialed lawyers Hal Gollop QC and Vernon Smith QC. BU will not be side-tracked by the theatre that will be orchestrated around this matter about how $3.3 millions dollars found its way into the deep pocket of former Executive Chairman of CLICO Leroy Parris. What some of us want to know is if there is consensus the invoice generated to support the $3.3. million payment is legitimate and whether taxes and relevant laws have been honoured. Does Parris and his lawyers dispute the findings of Deloitte Judicial Forensic Report on the matter?
To pursue a clinical approach to discovering truth and justice in the matter of CLICO and the $3.3. million dollar payment we highlight Walter Blackman’s intervention posted on another blog Speaker Michael Carrington and Deputy Speaker Mara Thompson Drag the Highest Court in the Land Into the Gutter.
It is extremely important for all of us to understand that we are witnessing some of the features and results of a system with a foundation that was designed in the early 1980’s. Back then, a handful of civil servants and politicians saw the enormous sweets to be reaped from having poor control mechanisms in place to account for taxpayers’ money. Any millions that could be grabbed from private sector operations were also considered fair game.
A special feature of a life insurance company operating in Barbados is that the safety of policyowners’ premiums is supposed to be protected by built-in safeguards in the form of : actuaries, auditors, accountants and high-quality company management, regulators, statutory reserves, the Minister of Finance, and the Prime Minister.
Note that, under this approach, the buck stops with the Prime Minister. Whenever everything else has failed, policyholders would expect him to do all within his political power to protect and safeguard their interests.
This suit by the JM shows that rather than the buck stopping with the PM, the assault started with him. Armed also with the power of being the PM, the Minister of Finance joined the assault and betrayed the public trust by engaging in money laundering, and other forms of criminal and fraudulent behaviour. Statutory reserves were disregarded; regulators were handpicked, “trained”, and used; CLICO intentionally never had any quality management, and its accountant seemed anxious and willing to sign away millions of policyholders’ cash at the slightest of Mr. Parris’ urgings.
Sensible Barbadians should now be asking: Was David Thompson the only PM and /or Minister of Finance who accelerated the demise of CLICO? Or did he choose to walk a path that had already been mapped out by others before him? Did his criminal, unethical, and morally unsavoury character have any influence on the type of persons he handpicked as candidates, ministers, and successors?
The blogmaster invites you to join and add value to the discussion.