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K/News apologises to GBTI

Dec 08, 2017 News

An article appeared on the front page of the November 15, 2017 issue of this newspaper under the caption “Financial Institutions’ unwillingness to cooperate with SOCU tells worrying story” .

The effect was that the Guyana Bank for Trade and Industry Ltd (GBTI) had refused to cooperate with SOCU in its investigations into the Guyana Rice Development Board; had obstructed these investigations by SOCU; had taken measures to protect persons who were involved in or accused of being involved in financial crimes and money laundering; and who were themselves involved in a conspiracy with money-launderers to facilitate money laundering and to protect the proceeds thereof.

The report published by the newspaper was based upon information provided by the Prosecutor in the criminal proceedings against GBTI.

The newspaper, however, subsequently ascertained that the conclusions to the allegations, as stated by the Prosecutor, were inaccurate and the newspaper regrets that they were published.

Having recognised the inaccuracy of the article written and published, and the possible embarrassment and damage it might have caused to the reputation and integrity of the bank, its directors and staff, at the urging of our legal advisors, we hereby unequivocally and unreservedly admit our error and express to the Guyana Bank for Trade and Industry Ltd and its directors our regret.

 

 

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