Showdown at Public Service Credit Union… Former Managers facing questions over $32M overseas travel

Jun 23, 2018 News

…attempts made to shield accounting documents

A probe of the finances of the Guyana Public Service Co-operative Credit Union Limited (GPSCCUL) is just beginning, but officials have already raised questions about $32M in overseas travel by former managers.
Accusations of financial mismanagement at the union led to the appointment of an Interim Management Committee (IMC) last month.

Chairman, Trevor Benn (left) with other members of the IMC outside the Union building.

Yesterday IMC officials swooped down at the Union’s headquarters on Hadfield Street, after reports indicated that the former managers were in the building changing the locks to the accounts department.
Police were called in to defuse the standoff.
IMC Chairman Trevor Benn told reporters that auditors had secured electronic information and copies of documents before the former managers entered the building.
“The evidence is very startling so far, and I believe this is motivating some of the members. They cannot afford to allow this sort of information to get in the public domain so they are rushing back to the building to get documents that they could dispose of. Fortunately for us we have all the documents that we need and the information will be revealed at an appropriate time,” Benn stated.
He stated that the Union had not been audited since 2013.
“Over a few years they had about $32M worth in overseas travel, but there is no paperwork to show. Evidence in terms of the electronic database is there, but the vouchers to prove the reason for this expenditure and who benefited from it is not available,” Benn stated.
He noted that there is one case where a sitting member of the former management committee was paid as the chief negotiator for the union with the Government of Guyana to avoid paying the auditor’s charges.

Chairman, Trevor Benn (left) with other members of the IMC outside the Union building.

According to Benn, there are other cases where people who were on the board, and who were also staff members, collected two and three salaries.
He also disclosed that two ‘privileged staff members’ were collecting monies over and above what the average staff members were collecting.
‘This is what they want to hide…We understand why the former management committee is so keen on retaining power to cover up these actions,” Benn stated.
According to Benn, the IMC has been able to ‘stop the bleeding’ from the union, noting that ‘poor members’ depend on payments.
Benn stated that a High Court Judge granted an injunction this week that essentially halts the work of the IMC, but did not restore the former managers. Hence, he stated that they had no right to access the building using the injunction as the basis for doing so.
According to Benn, the IMC will seek redress in the court on Monday.