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Bush Tea at 8:13 AM…Bushie wants to start at the bottom and work his way up..Step 1 – What is the JM expected to do as administrator …”====
I can understand the start at bottom focus on the Directors. As you said they have a fiduciary responsibility and did not take those responsibilities seriously. But I am unclear why you are opening this line of enquiry re the JM.
Obviously there are threads of possible conflict of interest there; as a careful analysis of the history of the personnel involved indicates.
But let’s take the report on its value first and if there are any later facts to support a less than honest work process from the JM then they too face the legal process.
The JM uncovered the fake invoice. Do you really and honestly expect that they would have been able to get ANYTHING else done properly with the bumbling police and DPP personnel sticking in their faces at that time had they alerted them.
Their mandate was to shore up the company and ideally clean up for sale or at worst organize for dissolution. Failing a dead body being found in a vault in the CEO’s office why detract from that with a fraud investigation which can achieve nothing in 2011 or whenever they made the discovery that can’t be achieved in 2014. There are no statue limitations or such as far as I can see.
If it was a then current and ongoing fraud and there was a clear possibility to stop the flow and movement of money. Then yes.
Bushie you are too astute to even countenance this hollow shot across the bow even after a long night out on the town with friends Mount Gay and Blue Label,
I would expect such a red herring from AC.
Furthermore, this allegation of the check has been in the public domain for at least a year. Have the police or DPP done anything (publicly) with the basic evidence to open an investigation?
And yet you are calling out the JM??
Where are you really going wid this? Wha really going done here?
@ bajan yankee
For you to be identifying a person name Adrian Clarke as to a person who was a colleague as proof to be one of same moniker using ac shows how ignorant and self serving your are, Your backside need to hauled into court for liable. slime ball
@Dee
Agree to some extent. The JMs indicated more money was needed for a forensic exercise to be thorough. What they turned up was a shortfall in 300 million in assets which the government of Barbados has committed to treat with by establishing this new company headed by Goodman.So far it appears to be operating in ‘sloth mode’ like everything else this government touches; the tax concessions to the sector is another example. Why the hell promise the sector if you know it was a fair promise? And you want the private sector to be with you?
the problem with the JM reort underscores a crucial point in forsenic gathering information a necessity to get the facts and its relevancy to the sources involved some of who are dead and cannot defend themselves,
however given the platforms on which the evedience was collected it is not surprising that errors now bought to the forefront within the report would give others a thought for concern if what we have not be told and accepted on face value as truth,
@ Artaxerxes March at 9:13 AM…
I caught your post after I had submitted so you explained in excellent details.
You are the expert so please clarify our remarks: “… and with all the evidence revealed by the 2 forensic audit reports, I’m amazed the JM, so far, has only sought to file a civil suit against Thompson’s estate and Parris.”
When and how does a JM or any such court appointed conservator direct criminal probes?
Their mandate is to reclaim any and all that was illegally used and that can only be done in civil court.
If a criminal probe is being done then an authorized police authority has to take the lead and they in turn employ any private expert contractors as necessary to decipher complex financial or other details OR they initiate a probe based on the details/facts/evidence brought into public view by the conservator’s report.
Please clarify why you as the judicial manager here would have any professional interest in a criminal pursuit.
PROFESSIONAL interest not interest from moral indignation as we all have.
To suggest that the “JM’s job was to provide information”, is nonsense and is further proof of these butchers of the English language have absolutely no knowledge of what they are attempting to comment on. How hell can information be masked and shown up at the same time?
I will always maintain, if anyone can make the following statement, whatever else they contribute should be dismissed as being “speculative and laden with political diarrhea.”
“ac February 10, 2015 at 7:11 AM # : Question WHERE WERE THE JM MANAGERS BETWEEN THE YEARS OF 2004 AND 2007 when Clico was failing to live up to their statutory arrangements , It is truly amazing how the JM seem to exempt self from their role of negligence in the Clico collapse but have used the Houdini method in pursuit of justice….”
@ Artax
b. Identifying the circumstances surrounding the failure of the company and hold those individuals responsible for the failure, due to mismanagement or misconduct, accountable for their actions.
++++++++++++++++++++++++
…see now why you are a man after Bushie’s own heart…?
Such a responsibility CANNOT be avoided when one considers the circumstances under which a JM is appointed. It is a difficult (and thus high-paying) job…..
Wunna have this way of accepting mediocrity from those with whom wunna find favour, …but Bushmen don’t play such shiite games….. have whacker will whack…
Of course the JM has done a good job in documenting and reporting WHAT WE ALL KNEW ALREADY any damn how….
He is to be commended.
BUT it is ALSO his responsibility to initiate actions to hold those responsible for doing the shiite in the first place…RESPONSIBLE.
On what basis does he get a pass in that regard?
So in answer to the question “How come after such evidence (evedience?) we see NO ACTION in this obvious case of high level fraud, Bushie seeks to understand the basis on which such action should have been initiated UNDER THE LAW.
On another point Artaxerxes
To what extent is a JM bound by questionable contracts that were entered into BEFORE he was appointed to act? Is it not the case with Administrators in the UK that there is NO SUCH constraint that binds a JM as in some other jurisdictions?
Why should a company placed under JM be bound by a shiite contract that pays $10M to the thieving idiot that robbed and ruined the company in the first place?
What is to stop the pack of (still at liberty) rats from ‘creating more back-dated “contracts” which legitimizes their crimes?
@ Dee Igrunt Word
Hush do!!
@ David
Not so fast!
The Forensic Report and other information confirmed many decisions taken by Parris, Thornhill et al did not reach the Board.
+++++++++++++++++++++++++++++++++++++++
Come on David … this is Bushie not Dompey….
So what are you saying? … that these Board members were a bunch of female rabbits of the AC kind?
These were children? Did they have eyes..?
Could they read?
Did they ask questions and analyze the answers?
Shiite man …. we are talking about the Crème de la crème of local intelligentsia, who were sumptuously rewarded with first class travel, perks, cheap real estate etc ….and you are saying that “cuh dear – dey didn’t know….?!?!”
oh shiite……
no wonder we are where we are….
@Dee
Again there is some agreement but do we have a culture in Barbados of pursuing prominent Barbadians and companies? We have to take all in context. It is not what is legal or following best practice, hasn’t been ever.
@Bush Tea
Making the point in a roundabout way that all we have here are our elite and highly educated feeding at the trough.
correction: “… clarify YOUR remarks”.
BTW, I am not disagreeing that criminal action is required. Just getting things clarified. Criminal action has nothing to do with a JM.
@David: “If the invoice was false how was it acceptable?”
Well, it was acceptable from the point of view that it got $3.3M out of CLICO’s bank and into Parris’ hands.
Counterfeit money is acceptable until it is proven to be counterfeit! Not so?
A PM is a youthful wonder-kind and paragon of virtue until he is show to be a sewer rat! Not so?
Ipso facto…the invoice was real until it was fake.
Life is really simple David.
And according to people like AC it was NEVER fake because the end result of money truly owed to Parris was justified.
@Dee
How is it acceptable for the Group Financial Controller to confirm to the forensic auditor is was an acceptable transaction. Is it possible for an invoice to be fake if we apply 101 accounting practice?
Further, what is an INVOICE.
Definition: a document sent to a buyer that specifies the amount and cost of products or services that have been provided by a seller.
https://www.e-conomic.co.uk/accountingsystem/glossary/invoice
@David,
Do we know if…..?
Clico, its leadership and any of it’s employees are under investigation by the DPP and Police?
Are any others connected to Clico being investigated by the DPP and Police?
listen the recent revelations of removed and now presented signatures as proof to a debt owe says a lot about that fake invoice as to what limited knoweldge the instigator of the invoice had in providing an invoice that would eliminate the original one or more signatures of the contract ,
here we are speaking of a bogus document which according to some here was perpetuated by the clients attorney, having erroneous missteps with similarities to that of a dumb robber ,
in my mind there is a smoldering fire which begs the question as to why DT as a highly skilled lawyer would recklessly overlooked such documentation making himself looked like a culprit ,the recklessness of the crime does not make sense and how it was carried out and not goes to the intellect of a highly skilled lawyering but to a backward and backdoor approach to one who does not have a moral or ethical persuasion to self or client making one to believe that a crime within a crime to “frame” is at the root of this document.
Curious as to why it matters who AC is. It seems as if we want to bully or to we want silence him. I find the site to be interesting and like the back and forth volleying. If everyone is saying the same thing, boredom will abound. One hand cannot clap by itself.
Bush Tea March 15, 2015 at 9:57 AM #
“Of course the JM has done a good job in documenting and reporting WHAT WE ALL KNEW ALREADY any damn how….
He is to be commended.
BUT it is ALSO his responsibility to initiate actions to hold those responsible for doing the shiite in the first place…RESPONSIBLE.
On what basis does he get a pass in that regard?”
Bush Tea,
One might rationalize that, given the fact that an insurance company is involved in this case, the state agency granted the powers to commence action would be the Financial Services Commission (FSC).
The evidence needed has been documented in the report.
Under the “Restrictions on Use” section of the report, the reader is informed that the Judicial Manager (JM) will provide the FSC with a copy of the report. Is this the JM’s way of handing over the baton?
We all know now, that after receiving a copy of the report, the FSC moved with indecent haste to have the contents of the report blocked from public view.
A few questions now scream out for attention:
After receiving the report, why did the FSC not initiate action against the wrongdoers?
Given the fact that fraud was committed, the banking system was used to launder money from CLICO, and the revenue laws of the country were assaulted by a fraudulent invoice manufactured by PM David Thompson , why wasn’t an official copy of the report also sent to the Commisioner of BRA, the Central Bank, and the Commissioner of Police so that they could initiate action using their respective powers? In any event, do these agencies have to wait until they receive an official copy of the report before they act? Or is the fact that the report has been unsealed and made available to the public enough for everybody to act?
@David at 10:07 AM…How is it acceptable …confirm to the forensic auditor is was an acceptable transaction. Is it possible for an invoice to be fake if we apply 101 accounting practice?===============
David, we are in agreement on the chapter and verse of this perfidy. I have no issues with your assertions. I also agree with your earlier remark that we do NOT ‘have a culture in Barbados of pursuing prominent Barbadians and companies’.
That culture is well nigh impossible to initiate and foster due to the incestuous nature of our political and corporate elites.
My only thrust here is to clear the fog re the JM’s role re criminality.
You also realize that the JM was VERY aware of that perception of ‘inbreeding’ and very purposely used the forensic services of their Canadian office.
We can surmise that action had less to do with a lack of competent investigators in Barbados and more to do with an arms’ length separation of locals investigating locals.
Surely still some errors or mistakes were made and the lawyers will push and probe to show all of them as material and significant in order to invalidate the report.
Until then. let’s take the report for what it says. To date it’s the irrefutable gospel on CLICO.
If evidence comes out to debunk the report’s findings then we deal with that then.
Otherwise these crooks are sued civilly to recover the ill-gotten gains and we hope that someone can find an international law which has been broken so that they can be tried criminally in US, Canada or Britain.
Because they surely will never be tried criminally in Barbados!
Where is the trained and expert accountant who approved that $3.3M and who is quoted in the report as : He believed that the creation, approval and submission for payment of a false invoice … and to conceal its true nature was an acceptable transaction.”
Is he not employed by Mr. Stuart’s gov’t as the guru of gurus for local investment in start-ups and related financial business dealings?
Of course, I would love to be wrong about criminal pursuit here, but that sounds a little remote to me.
@Hants
If that information was public knowledge the confidence in that office would be greatly compromised.
@ David,
Please forgive me but it is common where I live to see ” under investigation” and “allegations”
@Hants
Do you have transparency legislation over there?
Do you have a robust 4th and 5th Estate over there?
@ Walter
Point taken.
But the fact that the FSC (who may well have been complicit in the original crime – even if only by omission) has a duty to address the crime DOES NOT ABSOLVE the JM. Bushie just ain’t get to the FSC yet….
shiite man, if we see a fella running out of Massy with two hams does not about 1000 people call the damn police? Why should not the JM, FSC, FBI, CIA, FCC, CBC, VOB and even john doe call the police…?
You must be aware of the problem that arises when “everybody’s job” becomes “nobody’s” responsibility.
The JM was hired, appointed and paid to do a specific job which INCLUDES ensuring that the ***%%$ crooks are prosecuted…..YET THEY STILL WALKING BOUT TALKING SHIITE….
@ Dee Ingrunt Word
Were you asking earlier if Terence Thornhill, the accountant was “not employed by Mr. Stuart’s gov’t as the guru of gurus for local investment in start-ups and related financial business dealings” at the Enterprise Growth Fund Limited?
Given that I had asked that question earlier I can say Ecco Homo “Behold the Man”
David,
In Barbados Today, March 13th edition, page 3 there is a statement of account signed by Trudy White, a Financial Analyst at CLICO Holdings. The statement shows the amount of monies that would be due Mr. Parris at November 26, 2010, if he were entitled to an original gratuity of $10 million.
The statement shows 13 entries as items used to represent payments already made to Mr. Parris. Out of the 13 entries, only 12 of them have a specific date of deposit into the CLICO Holdings account.
“Which entry does not have a specific date?” you might rhetorically ask.
“The troublesome $3.333 million resulting from Thompson’s fraudulent invoice”, will be the inevitable answer.
We know that the $3.333 million was deposited into David Thompson’s Client A/C on January 16, 2009.
Here is how the same amount of money was “officially” recorded in the CLICO Holdings account for Mr. Parris:
JANUARY 2009 Gratuity – part payment (3,333,000) paid by CIL.
I think a few simple questions should now be directed towards Ms. White:
Can you provide Barbadians, the Commisioner of Police, or the FSC with a copy of the cheque that was issued by CIL to Mr. Parris for $3,333,000?
If you can’t, wouldn’t that suggest that money laundering has occurred?
In the event that the cheque was not issued by CIL, given the fact that $3,333,000 did end up in a CLICO Holdings account for Mr. Parris, where did the funds come from? Can you provide a copy of the non-CIL cheque so that everyone can see the bank and account from which the funds were drawn?
Did the source and provider of such funds owe Mr. Parris a TOTAL OR PARTIAL GRATUITY?
How come CLICO Holdings does not know, and shows no interest in finding out, on which day in January 2009 $3,333,000 in funds were deposited into its own account?
David:
I am concerned that comments here are directed only to some aspects of the Report. What you may need is another piece where someone, Walter or Art, goes through the report indicating what was found and the ACTIONS either suggested by the Report or supplied by the writer of the summary, to be taken in the future. There are those of us who can go and read the Report but I believe this is too fundamental and ordinary Bajans should be able to come here and receive an accurate distillation of the Report and its implications for this country.
Be warned this matter goes beyond CLICO; it speaks to the heart of how Barbados has been operating for a long long time and whether there needs to be a turn around at this time!!
Bushie and Piece are correct; some people in Barbados should be shiteing themselves. But with OUR current operating system, they know that they are completely “safe”!!!
@ David,
Barbados has transparency and a robust 4th and 5th estate.
It is called Barbados Underground. lol
[…] A. Thornhill. He sat and walked next to the embattled former CBH Chairman Leroy Parris. The recent Deloitte’s Forensic Report confirmed what many know and that is Thornhill is the man who has witnessed the unsavoury, immoral […]
@Hants
BU is a niche player read by the political and middle class, it is not mass based. We tried to advertise via emailblast via a third party and the players were too scared to touch BU. What does it say?
@Lemuel
Barbadians see Leroy Parris and care little about the bigger issue of corruption and governance.
“On the other hand Sir Frank Alleyne vacated his position on the Board because he was not satisfied with what he saw and heard. We need to explain the gap”.
Where is the evidence to substantiate this statement and why didn’t the charlatan adept at skilfully playing both sides of the wicket during the tenure of Mr Arthur if he were so ethical spill the beans in the interest of the policy holders?
David:
Your statement should have said BU caters to the middle and political class minus Bushie and Piece. We are still working on how to label those fellows class status!! lol And Piece, Miss Headley agrees with me.
@ David,
We all know the problem is that “everybody in Barbados is family to somebody or friends with somebody or a friend of a friend of a friend. you get my drift.
Most people do not want to do anything that will hurt their Uncle grandson cousin or their former classmate sister cousin husband.
I will bet that 99% of the commenters on BU are “connected” as are most Bajans
I have been a DLP supporter since school days but I have friends and family who are members of both the DLP and the BLP.
Wrong signal in Clico delay, says Layne
http://www.nationnews.com/nationnews/news/64828/wrong-signal-clico-delay-layne
Thanks Walter, there is the issue of the right of the Board to intervene concerning the agreement. One should reasonably expect the company would have tied the bonus payment to performance. All Board members should have felt the right to express their fudiciary duty in this way.
Here is the website of the Barbados Government Information Service. It is called the BGISMedia.
I went into their search engine and managed to find only 4 Clico related stories!
Where is the evidence to substantiate this statement and why didn’t the charlatan adept at skilfully playing both sides of the wicket during the tenure of Mr Arthur if he were so ethical spill the beans in the interest of the policy holders?
+++++++++++++++++++++++
@ balance
Sometime you can warm a bushman’s heart yuh hear?!
Was wondering if it was only Bushie thinking thus…
When big-name people allow their names to be associated with organizations in exchange for perks and benefits the must understand that less fortunate citizens are DEPENDING on them for integrity oversight.
This shiite ’bout “they did not know…” or “they resigned quietly” is NOT acceptable.
If they cannot stand the heat of the role ..then stay to shiite out of the kitchen….
If Alleyne was concerned enough to duck out, then he should have communicated his concerns at least to the damn Board, if not the FSC and public….
Bushie is disappointed that David excusing these Board members so casually….
@Bush Tea
Why are you suggesting BU is giving these people a pass?
Bush Tea March 15, 2015 at 2:31 PM #: “…This shiite ’bout “they did not know…” or “they resigned quietly”…”
Have a look at the names of the bajan directors of offshore insurance companies and submissive role that they play.
@ David
Man Bushie vex as shiite…. who ya want the bushman to cuss then?
Bushie is NOT vex with Parris ..or even with Thompson. Every country will have its share of geniuses, sports icons, honorable citizens, idiots (AC) and crooks (Parris).
Thompson was an overly ambitious idiot who wanted to be PM so much that he accepted the enticement of an crook…..but he paid the price…and his family will pay even more…
Parris is really just a petty crook. who normally would have ended up driving a ZR, but for catching Duprey’s eye…. so he has done well …considering….
But shiite man David, when the creme de la creme of our upstanding citizens can be selected to front for this company, and, instead of exposing and dealing with these scum, these ‘upstanding citizens’ can have joined in the debauchery…. THIS is what pisses Bushie off…..
Crooks will be crooks
The love of money /power will mislead many
…but how the hell can our SELECT, BIG-NAME, ROLE MODELS have been so inept, bumbling and so easily bribed…..???
THAT, boss, is the real failing….
@Bush Tea
Answer this question carefully, how many times has the electorate reelected Ronald Toppin after he resigned as minister in charge of the Fair Trading Commission?
On Sunday, 15 March 2015, Barbados Underground wrote:
>
@ This_is_common
Bushie is all too aware…
.. many of them known personally…
Easy to spot…
Look – no balls.
Parris wife when she left Sherbourne Conference Services benefitted from the start of her business Premier Event Services of $431,000 from 2004 – 2011. Parris made sure all close to him cleaned up on Clico policyholder’s fund.
Talking about nepotism and fleecing at the time of the fatted calf
Isn’t the partner in Premier Event Ismael who is head of the St.Micharl South Constituecy Council?
On Sunday, 15 March 2015, Barbados Underground wrote:
>
@ David…
YOU answer this question carefully…
WHY DID HE RESIGN? DID HE EVER SAY…?
…for all we know he found the bribes to be unattractive…. 🙂
@ David
Isn’t the partner in Premier Event Ismael who is head of the St.Michael South Constituency Council?
Correct both Ishmael and Faye Wharton Parris both worked at Sherbourne together and went off at the same time and started Premier Event Services with Clico’s free money.
@ David [BU]
Earlier you commented “BU is a niche player read by the political and middle class, it is not mass based…”
The ole man must with some agony say this
“We have met “the masses” and unfortunately if Wunna think that AC (whom Bajan Yankee? swore is Adrian Clark, and get cuss and threaten with a law suit) is an ingrunt fellow, in whichever manifestation they present themselves, we’ll let me tell wunna something, it is best to left dem out hear???
At we church, dem is a lot of dem “masses” causing “the opiate of the people” has a way of attracting the masses and the disenfranchised and let me tell you this, you really don’t want to have much to do with the “masses”
“Yeah the poor will be us constantly even unto the end of time” and while I am not trying to be elitist, given that I am one of the masses myself, I will caution you NOT to wish that they come here.
Just take a look at the commentary that is found on the Nation web pages and you get an idea of the rampant mediocrity that abounds.
De ole man is sorry to say this, but, given what BU is seeking to do, trying to bring numbers to the mix, while commendable, is going to open a whole can of worms and “Dompey-esque” dynamics which Bu could do without.
After taking seven years to build this product then to descend into such morass would be a crying shame.
But then again I am just a poor man who wanna be elitist in he ole age
Both Ronald Toppin and Frank King left the FTC without saying a pang.Most unacceptable.
Bush Tea March 15, 2015 at 3:01 PM #
Pulled for six, Sir.
Also, to take it further, under today’s legislation, Directors are personally liable for certain infractions by a company.
How many actually know that?
Likely why dem up and leave quietly, trying to get clear before dem get hit.
Don’t laugh at that guy who was left standing at the altar by his bride, as he could not do simple maths.
One day he may be given a work permit to come into Barbados to manage some government project or hotel,or an insurance company, as ‘no suitable candidates could be found locally.”
@David
Would appreciate reading Layne’s entire interview if it is available.
@pieceuhderockyeahright March 15, 2015 at 4:43 PM,
I trust that your comments have been made in good jest?
@ pieceuhderockyeahright at 12:25 PM… you asking earlier if Terence Thornhill, the accountant was “not employed by Mr. Stuart’s gov’t as the guru of gurus for local investment in start-ups and related financial business dealings” at the Enterprise Growth Fund Limited?….Given that I had asked that question earlier I can say Ecco Homo “Behold the Man”===========
My remarks were a reinforcement of your comment.
It is tantamount to a game of 3-card mounty that our government which was privvy to the issues and concerns raised in the JM report were comfortable, displayed ultimate hubris or just didn’t give a **** to select Mr. Thornhill to the position.
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