Leroy Parris and His Overseas ‘Stash’
In May 2012 BU posted on the matter Everton Cumberbatch Versus Leroy Parris, Larry Tatem and Breakers Investment Inc Case number”2008/770. Arising from the law suit one gleans that Leroy Parris has access to monies which he is the beneficial owner lodged in offshore accounts totalling in the million of dollars.
In todays Sunday Sun we learned of a case where Leroy Parris has applied to the High Court of Barbados to overturn an order freezing his assets and those of his company Branlee Consulting Services Inc. In his Affidavit to support the application Parris listed assets as a residence at #8 Dayrells Heights, St. Michael valued $3.5 million; property at #243 Crystal Heights, St. Michael $1.5 million; Lots #’s 403, 404, 601, at Crystal Heights valued at $1.5 million; Lot 7 Dayrells Heights valued at $450,000; three lots at #’s 17,18,19 at Sentinel Gardens. Barrack, Christ Church; and lot 15 at Westmorland, St. James valued at $2.2 million. In addition accounts were listed at Scotiabank and the Central Bank totalling $12 million dollars.
Under the FATCA agreement of which Barbados is a signatory although the intent is to identify US citizens who own bank accounts overseas, there is the opportunity for private individuals to be captured if ‘current (mailing, residence, post office box or c/o) address is in the U.S, sole address is a care of address or hold mail among other indicators’– see FATCA Frequently Asked Questions.
It is obvious even to a Leroy Parris apologist that over the years he would have stashed significant monies overseas as the Barbadian middleclass has done over the years. Instead of filing a frivolous lawsuit which his lawyers have been accused of doing by the Caribbean Court of Justice why not drawdown from his overseas stash? The country and his friend the Prime Minister needs the forex now more than ever.