Parliament awaits court decision on NBS wrongful dismissal matter

Feb 27, 2017 News

The National Assembly is still awaiting a determination of the court, to make a pronouncement on the report of the ombudsman into the case for Maurice Arjoon, former Chief Executive Officer of the New Building Society, suffered wrongful dismissal.
Arjoon and his colleagues, assistant Mortgage Manager Kissoon Baldeo, and Operations Manager Kent Vincent, along with other employees, were charged in a $69M fraud case at NBS in 2006.
The money reportedly belonged to Bibi Khan. The case was in the court for a number of years before charges were finally discharged.
The former CEO then moved to file a $2M lawsuit against the People’s Progressive Party Civic government for malicious prosecution. The suit was dismissed since the offence could not have been properly established.
When the charges were laid against Arjoon, he was on the verge of retirement and was dismissed. Arjoon has claimed that he was framed after he refused to illegally endorse the lending of $2B in 2006. The former CEO’s decision to only lend $350M in keeping with Guyana’s financial laws apparently angered former President Bharrat Jagdeo, who allegedly threatened to deal with the CEO.
The trio then lodged a complaint at the office of the Ombudsman. In his report on the matter, Moore concluded that the men had suffered a “grave injustice”.
The late Ombudsman Justice Winston Moore had also ruled on another controversial matter relating to the New Building Society (NBS).
The Office of the Ombudsman concluded in November 2014 that police wrongfully charged the former Chief Executive Officer (CEO) and two of his managers of a massive $69M fraud at the New Building Society, in 2006.
He recommended that the men be compensated for losing seven years of their lives.
The matter was taken to the National Assembly where it was laid, but has been at a standstill. Contacted recently, for update on the status Clerk of the National Assembly Sherlock Issacs noted that the National Assembly is still awaiting the court decision before it can determine a way forward on the issue.
Prime Minister Moses Nagamootoo had explained that the Speaker of the House advised that the House should be mindful of the sub judice rule, which states that once a matter is engaging the attention of the court it could not be ventilated in the Assembly.
The court case ended last June before Justice Brassington Reynolds. However, the court is still to make a determination on the matter. Notices are to be sent out by the court on the date of the ruling.

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Parliament awaits court decision on NBS wrongful dismissal matter

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