22 Nov 2008

The world of high finance

For more than a year, I've been blogging about Andre Monteil and the suspicious way he acquired $110M. Now the story is more about how he pocketed the money despite Papa-trick's assurance that the money would be repaid.

Monteil has sold the shares in his company and despite claiming to have resigned from home Mortgage Bank in May 2008, he only resigned in November 2008, after the sale was completed.

The bank stating that Monteil's resignation as chairman became effective November 7, 2008, differs from a statement Monteil had issued in May 2007 over the controversial issue stating that he had resigned as chairman of the HMB.

In other words, once again he uses his position to oversee disposal/gain of assets.

I also find it suspicious that Michael Annisette, the so-called 'independent' senator, is fast coming into the thick of these suspicious financial transactions, and not for the first time, I am wondering just how independent he can be when his bread is buttered generously by the PNM.

A separate published notice stated that Michael Annisette, a board member of the Urban Development Company of T&T (Udecott), an independent senator [sic] and president of the Seamen and Waterfront Workers Trade Union (SWWTU), was now a director of the HMB.