David Thompson and Families First Slush Fund, the Corruption Trail

Each day, as this saga unfolds, more and more of the innocence of Barbadian society gets destroyed. Some Barbadians, who are thinking for themselves, have already raced ahead to recognize that CLICO is just the tip of a national iceberg.The hard-earned money of Barbadian taxpayers has been receiving similar treatment for the last 30 years also Walter Blackman

The BU household agrees with pundits who suggest irreparable harm has been done to the legacy of the late Prime Minister David Thompson caused by the recent revelations contained in the CLICO Final Forensic Report unsealed by Justice William Chandler. Before the CLICO meltdown many Barbadians were prepared to give credit to Thompson for his Families First Campaign and other people centric initiatives. He promulgated the view “Family values are crucial and the role of fathers and mothers is vital to children’s development.” What a noble effort by the late Prime Minister Thompson which sadly appears to be the usual political rhetoric.

Now that the public persona of the late David Thompson has been shattered to smithereens a pandora’s box of questions have to be asked and answered. Monies paid by CLICO Barbados to the Families First Account were managed by the late David Thompson. However it is inconceivable that he and he alone had oversight for the slush fund. Of greater interest is the need to perform an audit to identify inflows to the account from CLICO and other contributors from Barbados and the Caribbean.

Woe is we!

122 comments

  • Tell me something I don't know

    OCM could best be described as having Colonial Life Ins. Co. Ltd. as its largest single share-holder. It would not therefore be fair to describe VOB as being part of the CLICO/CL Financial Group. The latest Annual Report I could find was 2013 and the largest shareholders were listed as follows:

    Colonial Life 15.3 million shares
    Rebyn Ltd. 5.8 M ( possibly owned by Sir fred Gollop)
    CCN ESOP 5.7M (Employee Share Ownership Plan)
    ABK Invesments 2.5M
    Brentwood Corp. 2.05M (owned by Grenville Phillips)
    HH Investments 1.98M (owned by Harold Hoyte)
    Athylyn Investments 1.66M
    St. Elmo Thompson 1.62M
    Carlton K. Mack Ltd 1.4m (possibly owned by Director Carlton Mack)
    Tragarete Ent. Ltd 1.25M

    There are some 66M OCM shares issued and fully paid for so Colonial Life has less than a 25% stake.

    I am not 100% sure but I believe there is an agreement between Colonial Life and OCM Board not to get involved in the “management” of the group in the same way that CL Financial through three seperate entities owns about 43% of Republic Bank but through an agreement also does not get involved in the “management” allowing Management to exercise its voting rights by proxy.

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  • Exclaimer March 15, 2015 at 10:32 AM #

    I appear to have committed a fire storm by merely suggesting that our army could be a possible solution to aborting any forth coming social unrest in Barbados.
    …………………………………………………………………………………………….
    And it may very well have to. Not as a Crusader, but as a Defender. (not the SUV types) A caller recently on one of the call- in- shows, talked of attending a party, and seeing every conceivable brand name gun in the hands of many . UZI’S , Glocks, Ak47’s ,the works. And herein lies our premier threat. When these illegal gun holders get bored of showing off their pieces, they could be easily persuaded by a Abu Bakr type to pick a target , any target, in a similar fashion to how local drug lords “foot soldiers” carry out execution orders without fear or question. Sometimes in broad daylight.
    Under this administration we have seen a proliferation of illegal guns coming into this country, and with a barifle of lawyers in our parliament, we seem to be unable ,or unwilling to enact tough legislation, giving the police more power to combat this threat. We know that Maurice King when he was Attorney General, gave the criminals an upper hand over the police, by declaring it was illegal for police to stop and search a vehicle on the public highway.
    An incident which took place in crowded Swan Street two Saturdays ago, when a child received a gunshot wound to the back of the head, and no report (explosion) was heard, could mean that a Silencer may have been used . This usage may become widespread,especially in the now frequent drive-by shootings, or on high profile targets from a position of relative safety.

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  • St George's Dragon

    I am no ballistics expert but looking at the X-Ray picture of the child’s head that was published in the newspaper it looked to me as though the bullet had been fired up in the air and hit on the way down. That could explain why no gunshot was heard.

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  • St George’s Dragon Mar 15th 8.30pm
    I relied upon Exclaimer’s Mar 13th 5.25pm post and the article by Wayne Soverall aijcrnet.com of 02Feb2012 in which the organization structure of CL Financial at Trinidad is recording One Caribbean Media Ltd as part of the Clico group.Has this changed?

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  • @Gabriel

    The point is CL Financial is a shareholder in OCM not controlling interest though.

    On Monday, 16 March 2015, Barbados Underground wrote:

    >

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  • Tell me something I don't know

    @ St. George Dragon

    The original question was whether VOB could be considered a part of the CL Financial Group. That is not in the first place a “technical” term. A company is either a a wholly owned subsidiary, a subsidiary or an associate company. Wholly owned as it implies is a 100% ownership. Subsidiary is controlling interest 50-99% and Associate is a significant interest usualy a minimum of 20% but less than 50%.

    Based on that definition OCM is an Associate company of (Not CL Financial) but of Colonial Life Insurance Company. The is no shareholder relationship between CL Financial and OCM.

    Also based on that definition there is no corporate shareholder relationship between CL Financial and either Nation Corporation or Starcom Network whose ultimate parents are OCM.

    Hope it makes sense. it is important to establish the difference between the various companies otherwise incorrect inferences can be drawn.

    Bear in mind also that shares can be owned for a number of different reasons – usually as an investment purely for the earnings or to become a strategic partner and influence the management of the company. If the shares are held by another investor – that investor often only cares about the earnings and is not interested in running the company. In my opinion, this has been the case with these two investments in relation to various CLICO companies and OCM and Republic bank.

    If they were truly seen as part of the CL Financial Group, you would have seen it reflected in the Boardroom with Lawrence Duprey and/or his usual suspects showing up in the Boardroom.

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  • We are engaging in splitting hairs, CL Financial is the parent.

    On Monday, 16 March 2015, Barbados Underground wrote:

    >

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  • Tell me something I don't know

    With respect David. I am as much a Clico-sceptic as the next guy but in these matters it is very important to be precise. If you’re not, everything gets fuzzy and when stuff gets fuzzy everybody loses focus and everything becomes blurred. Is your great-grandmother’s sister related? Of course she is but she is not your parent. that’s all I’m saying. It’s cool to paint with broad brushes on a blog but when we take the same logic outside into the real world it will not fly. That’s all I’m saying.

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  • DONT STOP THE CARNIVAL!!!

    Same shite different day.
    Any bets when y’all dead of Laryngitis.

    GUNNA still be SAME SHITE DIFFERENT DAY.

    NO RIOTS.
    NO NEW GOVERNMENT
    TOTALLY NUFFIN DIFFERENT

    Ent a souls I see shakin in the boots or even raising an eyebrow.

    Wake up Y’all; you are NON PEOPLE.

    Dem see y’all like some shite on dem shoe.

    Put up yuh foot shut yuh mout, PaperTigers floatin on HOT AIR.

    OH MAN!!! FUMBLE Mus be bustin a gut!!

    Assist in the Rob n Rape of a whole country en all he get is” malicionin” from old bags of hot air.

    GEE’SUS give muh a brek!!

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  • One thing for sure, Dennis Kellman should be singing the praises of David Thompson, cause if David did not detest him , and diss him at every opportunity , he might have been part of this CLICO scam. Moon Town would have been Boom Town.

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  • Your position is noted.

    On Monday, 16 March 2015, Barbados Underground wrote:

    >

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  • I used to be dead set against the erection of statues of our politicians , but I think we have made a grave mistake by not erecting a statue of David Thompson, one out of Chalky Mount clay,shortly after his death. Like Saddam Hussein we would have had some thing to pull down and crushed under our feet.
    Let not make that mistake with the incumbent.

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  • David,

    Do you know when was the picture taken of Thompson? Was it when he fell off the truck or during his illness?

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  • Prodigal Good Question . By the way Hartley Henry very quiet. Uh wonder Why? How come he wasn’t invited to the program on Sunday?

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  • Tell me something I don't know

    Mr. Henry must be still over in St. Kitts stirring up strife.

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  • David Mar 16th 11.18am
    Not wanting to appear to be splitting hairs but your post is correct.CL Financial is shown on the Organization Chart as the parent company.

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  • Prodigal Son March 16, 2015 at 10:34 PM #

    David,

    Do you know when was the picture taken of Thompson? Was it when he fell off the truck or during his illness?
    ………………………………………………………………………………………………….
    Shortly after he was unceremoniously kicked out of Heaven without a parachute.

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  • Word on the street is that SY Adams son, the one who it appears, had his container of drugs case drooped/swept under the carpet/paid his way out etc etc ,has been working land St John, producing marajunior.

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  • Some of these Nursery Rhymes are at long last beginning to make sense

    Taffy was a Welshman, Taffy was a thief;
    Taffy came to my house and stole a piece of beef;
    I went to Taffy's house, Taffy wasn't home;
    Taffy came to my house and stole a marrow-bone.[1] 
    

    (Taffy is the nickname for the Welsh form of DAVID)

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  • ……..Taffy stole a MARA bone?…….and give the money to….(annuda Welch name here please Colonel)….but looka my crosses….ole TEIFS got a song.

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  • Guatemala on brink of crisis after vice-president falls to corruption scandal:

    “Guatemala’s President Otto Pérez has fired several ministers amid a growing political crisis over corruption allegations.

    Pérez told reporters he had dismissed the interior, energy and environment ministers as well as the country’s intelligence chief and other senior officials following a string of arrests and recent mass protests in Guatemala City.

    The retired army general, who has not himself been accused of corruption, said the government would work with investigators to root out abuses by public officials.”

    Meanwhile in Barbados corruption remains deeply embedded in the souls and hearts of our government, the opposition and the corporate world. Unless the masses protest and take to the streets corruption will continue to thrive from within those sheltered recesses on the island.

    http://www.theguardian.com/world/2015/may/21/guatemala-president-fires-ministers-corruption-scandal

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  • You are so very right ! But wait ! Marijuana growers are beginning to fight back ! They’ve begun shooting at the police ! Could it be that their reasoning is that members of the government, the opposition and the corporate world, are ignoring the laws of the land and engaging in illegal activities, and so, why shouldn’t they ? Crime is crime !

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