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Five years later…Former NBS Manager’s wrongful dismissal case nears end
After some five years in the courts, the legal drama involving former Manager Maurice Arjoon of the New
Dismissed CEO of NBS, Maurice Arjoon
Building Society Limited (NBS) and the financial institution may be nearing its end.
Arjoon, a former Chief Executive Officer, (CEO) of NBS had sued the financial institution for wrongful termination and for withholding of Pension after allegations of fraud were brought against him.
Along with Kissoon Baldeo, 38, of 86 Zeeburg, West Coast Demerara (Assistant Mortgage Manager of NBS); and Kent Vincent of 1247 Canje Pheasant Lane, South Ruimveldt (Operations Manager); Arjoon had been accused of conspiracy to defraud the NBS of $69M.
That court case has been protracted over the past five years with only four witnesses listed to testify; Arjoon and three defence witnesses, including Director of the New Building Society Limited (NBS) Seepaul Narine.
Narine, also General Secretary of the Guyana Agricultural and General Workers’ Union (GAWU), is expected to be last witness in the matter.
He testified before Justice Brassington Reynolds at the Georgetown Supreme Court, yesterday. His evidence was led by Attorney at law Ashton Chase, (S.C). In his evidence, the witness essentially told the Court that Arjoon had been invited to several meeting with the board to discuss issues relating to the matter but he did not attend.
The NBS Board Director claimed that the Board then met and determined what course of action should be taken against the then CEO.
On August 14 of that year, Narine said that he was at a fully attended NBS Board meeting when a decision was taken to dismiss Mr Arjoon.
Asked specifically by his Attorney whether the Board‘s decision to dismiss Mr. Arjoon was spilt, he replied, “It was a unanimous decision.”
Narine then stated that the reason for Arjoon’s dismissal was negligence. The Director was also asked if Arjoon
Director of NBS Seepaul Narine
had been a contributor to the pensions fund at NBS. He responded in the affirmative, but noted that the Board decided that Arjoon’s pension would have been decided after his indebtedness to the Society had been settled.
He said, however, that the Board could not proceed with this course of action since Arjoon had filed immediate legal proceedings against the Board.
There was several objections by Arjoon‘s Attorney, Edward Luckhoo (S.C) during yesterday’s proceedings. Luckhoo objected to tendering of evidence he labeled ‘hearsay ‘or ‘opinion evidence’ given its third party nature and content. There was some amount of back and forth between the two Attorneys but in the end Luckhoo’s objections were upheld by Justice Reynolds.
The matter subsequently came to an adjournment with Luckhoo yet to cross-examine the witness. He is expected to question Narine at the next hearing on the case scheduled for July 7 at 9:30 hours at the Georgetown Supreme Court.
The case dates back to 2007, when criminal proceedings were filed in Magistrates’ Court against the three managers in relation to the withdrawal of large sums of money from a savings and prosper account at NBS in the name of Bibi Khan.
The matter was later dismissed after the main witnesses in the trial stopped attending court. But in 2011, Arjoon of 1-2 La Fleur Road, Eccles filed a lawsuit against the bank noting that he was on the verge of retiring when the charges were instituted and he was dismissed from NBS, losing his pension and other benefits.
The former CEO had also claimed that he was framed after he refused to illegally endorse the lending of $2B, in 2006.
A recent report by the Ombudsman had outlined that Arjoon’s decision to only lend an amount in keeping with Guyana’s financial laws, apparently angered former President, Bharrat Jagdeo, who allegedly threatened to deal with the CEO.
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