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More charges recommended for GBTI officials
GBTI officials with a lawyer exiting the Georgetown Magistrates’ Court in late October, after being slapped with contempt charges.
It appears that the patience of the police Special Organised Crime Unit (SOCU) is running out when it comes to complying with a High Court order on the handing over of documents by a commercial bank.
More charges have been recommended, in the last few days, against officials of the Guyana Bank For Trade and Industry (GBTI).
Yesterday, SOCU officials refused to confirm that they have made recommendations for more charges, submitted to the Chambers of the Director of Public Prosecution (DPP) for advice.
However, well-placed sources confirmed that indeed some charges have been recommended.
The standoff between SOCU, a police unit that targets financial crimes, and GBTI is now likely to see another round of court cases, on top of the two that is currently engaging the magistrate’s court and the High Court.
In late October, seven of eight GBTI officials, in a highly unusual case, appeared in court slapped criminally with contempt charges.
Around the same time, a High Court matter involving the bank also came up.
At the centre of the cases is the request by SOCU for transaction documents regarding a US$500M investigation at the state-owned Guyana Rice Development Board (GRDB).
SOCU is tracking, based on a forensic audit report on GRDB, where some US$500M were transferred under the tenure of the People’s Progressive Party/Civic, relating to a rice for oil deal between Guyana and Venezuela.
The matter started early this year when SOCU asked the bank to provide the documents.
Initially, the bank was hesitant to comply, claiming at first that the account was a private one.
Then there were claims that some of the documents were lost because of new scanning technology introduced.
There have been a number of court sessions involving the bank and SOCU and the Chief Justice to arrive at a solution.
The bank, which said it has now submitted over 12,000 documents, is claiming that it has complied.
However, SOCU is insisting that some of the documents, which include authorizations purportedly issued by GRDB, are missing. They include transactions of more than US$30M ($6B).
Charged with contempt at the bank are Chairman Robin Stoby, his directors, and Chief Executive Officer (ag), Shaleeza Shaw.
The case is being regarded as a major test for investigators under new anti-money laundering laws.
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