Wednesday, September 29, 2010

Dissecting CLICO

Alas CLICO has hidden assets and now that is out in the public domain. Who were gonna tell us this ?!

If we have not learned a few things about CLICO Guyana's collapse we are bound to repeat a few of them in history. It is no secret that CLICO unlawfully invested money outside of Guyana but, how it is the the government is making payouts without investigating the company's collapse? This is beyond us!

When Justice Chang ruled that the Company be liquidated it was more than a year after the company had collapsed, more than a year that Maria Van Beek, Commissioner of Insurance was shot and more than enough time for a full investigation to be done and made public.

There are several issues we are quite sure are under the carpets at State House, these would never be addressed.

Among them are:
- How did Clico Guyana invest US$34 million in another company with notifying the Commissioner of Insurance?

- Who authorized Geeta Singh-Kinght to make that investment?

- Where is the US$34 million today? The last we heard it was entered into the Clico Bahamas accounts but is still not accounted for in cash or kind.

- Where was there no monitoring of this and many other companies by the Office of Commissioner of Insurance?

- What about insider trading ?

- What happens to CLICO's assests invested elsewhere?

- Who will buy CLICO's properties?

- What is the Government's cut back?

- And why were there no criminal charges against ANYONE? and when we say ANYONE, you know who we speak out.

- Jagdeo has spoken at length about this 'firewall' that surrounded Guyana's finances following the financial meltdown yet monies from GBTI dissolved and CLICO collapsed yet no one was found culpable.

- Now that Jagdeo is seeking to sell some of CLICO's polices we heard that MP Insurance will be given a large block.

- MP Insurance Company is owned by a government minister.

GOD be with us

No comments:

Post a Comment