Chief Justice grants further extension for GBTI to hand over banking records to SOCU

Nov 25, 2018 News

The Guyana Bank for Trade and Industry (GBTI) has been granted until December 31, to comply with a court order, which compels the institution to hand over banking records to the Special Organized Crime Unit (SOCU), an arm of the police force.
The extension was granted by Chief Justice (ag) Roxane George-Wiltshire earlier this month.
According to court documents seen by Kaieteur News, failure to comply will see the bank being held in contempt, and may be liable to imprisonment or confiscation of assets.
At present, top-ranking banking officials are embroiled in a contempt trial before Chief Magistrate Ann McLennan at the Georgetown Magistrates’ Courts.
The case involves Chairman, Robin Stoby S.C; and Directors, Edward A. Beharry, Suresh Beharry, Richard Isava, Carlton James and Basil Mahadeo, along with Chief Executive Officer (ag) Shaleeza Shaw and Kathryn Eytle-McLean.
They all denied the charge, which alleged that on September 7, 2017 at Georgetown, they failed to comply with production order granted by Chief Justice (ag) Roxane George-Wiltshire, for them to produce certain documents to head of the Special Organised Crime Unit (SOCU), Sydney James. The order was made on August 29, 2017.
SOCU Prosecutor Patrice Henry closed his case on November 15, last. The trial will continue on December 4 when the defence is expected to make no-case submission on their client’s behalf.
SOCU, as part of a probe into US$500M that the Guyana Rice Development Board (GRDB) handled as far back as 2010, submitted files to Director of Public Prosecutions (DPP) recommending contempt charges against GBTI’s eight directors.

From left Suresh Beharry, Carlton James, Shaleeza Shaw, Robin Stoby and Basil Mahadeo

This was after the bank and SOCU were locked in a battle over information concerning the GRDB accounts. SOCU is contending that the bank failed or stalled handing over certain banking records concerning GRDB.
SOCU also said that the bank gave all kinds of excuses, and even destroyed pertinent records relating to GRDB. SOCU reportedly argued that other banks complied, but it was finding it hard with GBTI.
SOCU received four court orders, including one from the high court, asking that GBTI hand over the information.
Late August last year, the acting Chief Justice Roxane George-Wiltshire granted production orders to SOCU, giving the bank a week to hand over certain information. That deadline expired in early September 2017 and the bank was reportedly granted some extra time.
However, the deadline elapsed and SOCU prepared files recommending the charges of contempt against the directors.
Under tough anti-money laundering laws, once the court orders are granted, financial institutions are reportedly bound to provide information.
In this case, the money is not from private accounts, but rather from the US-dollar and other accounts of GRDB, a state entity.