Charges must be laid against those culpable of the illegal transaction in CLICO debacle- GTUC

Sep 18, 2010 News

The Guyana Trades Union Congress (GTUC) has condemned the brutal killing of Sheemar Mangar and the publicized meeting of Jagdeo with CLICO policyholders.
Addressing a press conference at the Critchlow Labour College, Wednesday, General Secretary of GTUC, Norris Witter, contended that Sheemar Mangar was brutally struck down and run over for her cell phone.
Society must go beyond the platitudes of condemnation and sympathies and do something tangible to reverse this rapid descent into total darkness, he added.
“What kind of a society are we living in when our citizens are mutilated and violated in the most gruesome manner, practically every day, while our leaders play and even support , with taxpayers money, all kind of carnivals and bacchanals that some surmise may be contributing to this sordid state of affair?”
Norris Witter stated that it is about time people accept responsibility for the decadence of the state and hold our political leaders responsible. “The GTUC hopes that this will not be another case of, investigations continuing’ and the perpetrator(s) are brought to justice.”
Mangar was buried on Thursday.
And according to the TUC General Secretary, the High Court has ordered the liquidation of CLICO (Guyana), and barring any appeal to the ruling, President Jagdeo must now be held to his promise to reimburse all of CLICO (Guyana) policy holders, depositors and investors
The General Secretary explained that the policyholders are not the only interested parties. There are investors in the Executives Flexible Premium Annuities and Flexible Premium Annuities, Investments of employees pension schemes such as the Guyana Sugar Corporation (GuySuCo), the Sugar Industry Labour Welfare Fund (SILWF), the Guyana Revenue Authority (GRA), Banks DIH Limited the Guyana Shipping Corporation (GSC), the Guyana Geology and Mines Commission (GGMC) the Guyana Agricultural and General Workers’ Union (GAWU).
“The National Insurance Scheme invested approximately $7 billion in CLICO thus making all NIS contributors interested parties.”
The GTUC supports the call from sections of the society that charges be laid against those culpable of the illegal transaction cited by the Honorable Chief Justice Ian Chang.
The General Secretary further disclosed that the Trinidad and Tobago Finance Minister Karen Nunez-Teixeira said as much when she stated, “prosecution can be anticipated against those persons responsible for the disappearance of billions of dollars from CLICO (Trinidad) if a forensic investigation currently taking place turns up evidence that can stand up in court.
Witter added that the outstanding terminal benefit to the 150-odd staff of the Premium Security Services Inc, a subsidiary of CL Financial and registered in Guyana and managed by Geeta Singh-Knight must also be addressed by President Jagdeo
Witter said that Geeta Singh-Knight currently serves on the GUYSUCO Board of Directors, and she is tipped to replace Mr. Paul Bhim as Finance Controller of GUYSUCO.
In highlighting Geeta Singh-Knight’s track record Norris Witter said she was Former Finance Director of Demtoco – closed; Chief Executive Officer of CLICO (Guyana) –liquidated/closed; Chief Executive Officer –Premium Security Services Inc.–closed; soon to be Finance Director of GUYSUCO –soon to be closed.

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Charges must be laid against those culpable of the illegal transaction in CLICO debacle- GTUC

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Charges must be laid against those culpable of the illegal transaction in CLICO debacle- GTUC

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