Latest update April 26th, 2026 12:45 AM
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In defence of the Globe Trust (non) probe
Dear Editor,
I would have done an injustice to my fellow veterans and ardent readers of your column, had I failed to respond to a letter written by a retired Major C S Vaughn, captioned “The PNCR vociferous about CLICO, but silent on Globe Trust”.
Mankind does not surprise me as in this case, it is the writer’s democratic right to rant and rail, but he has to be truthful and accurate and not allow bitterness to engulf his sanity.
Sylvester, the letter writer, attempts to compare the debacle which occurred at Globe Trust with what occurred at CLICO. These two situations are incomparable, and I hope the writer is awakened from his slumber.
In the CLICO situation the Government high handedly through its agents invested Guyanese savings without the consent of policyholders, a behavioral pattern of this regime. Sylvester has conveniently failed to mention the numerous investments CLICO has undertaken at the expense and detriment of Guyanese.
It boggles my mind as to where Sylvester Vaughn lives. Surely it could not be in Guyana.
The writer has the gall to mention the former President as someone whom he sees as caring and truthful in his uttering. Sylvester’s assault on the PNCR and its Leader, is unfair and unwarranted.
Many persons have suffered loss through Globe Trust, but countless individuals continue to be haunted by the autocratic handling of the CLICO catastrophe.
May I inform the writer that there are those who were, and are gleeful of Globe Trust misfortune. Sylvester should occupy space in this column to expose corruption by those white collar criminals in this Government instead of pleading for sympathy from those criminals.
Umar Saied
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