Latest update March 29th, 2025 5:38 AM
Judgment in wrongful dismissal of second NBS manager still pending
…Months after conclusion of case
The ruling in the second case filed against the New Building Society (NBS) over the wrongful dismissal of former manager, Kent Vincent, is still pending, several months after a trial in the Georgetown High Court concluded.
Waiting: Former NBS Manager, Kent Vincent
Vincent had filed a lawsuit claiming over $500M worth in damages from the institution after he was dismissed and charged along with two other managers for conspiracy to defraud the NBS of $69M, back in 2007.
NBS is a mortgage financing entity. Vincent has since moved on, and is the chief for Food For The Poor (Guyana) Inc., a non-profit organization.
The sum was allegedly withdrawn from an account belonging to a customer, Bibi Khan, using unverified, bogus documents. Along with the former Chief Executive Officer, (CEO) Maurice Arjoon, Vincent challenged NBS in court citing irreparable harm from the negative publicity and loss of salaries and benefits that the incident caused.
Both men had claimed that they were set up and fired from their jobs because they refused to accede to the request of a high ranking politician to invest hundreds of millions in the Berbice River Bridge project.
NBS still invested in the project after the men were fired.
Arjoon’s trial over NBS’ wrongful dismissal took about seven years in the High Court before he was finally rendered a judgment in his favour. He received over $50M.
Vincent‘s lawsuit commenced only about a year after that trial concluded; approximately eight years after it was initially filed.
Vincent was the last witness in a second matter which concluded before Chief Justice (Ag), Roxane George in February of this year.
During the trial, NBS’ lead attorney; Devindra Kissoon, had pressed the former manager about the rules, systems, manual and principles which guide transactions at the institution.
The lawyer specifically questioned Vincent about the process of verifying documents produced to conduct transactions at the society.
The lawyer was at the time verifying whether Vincent had followed all the protocols and rules of the mortgage -financing institution at the time the money went allegedly missing from the account to ascertain if negligence had played a role in his dismissal.
Kissoon had posed several questions on the issues of guidelines and rules of NBS which Vincent maintained that he followed.
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