11 Apr 2010

Left hand pelting cuff

Hoo Ha!

Every so often, I am actually surprised by the actions of a few down on the Rock. Not all the time the actions will be good, eh… sometimes is sheer perverse enjoyment in me to see de dotishness rise like fermented shit… like a few dunceys trying to shove a bulldozer up onto a truck…

This morning, I was (pleasantly) surprised to see the the State-appointed manager of failed CLICO Investment Bank (CIB) Carl Hiralal has sued former former chairman Andre Monteil (CIB) and Richard Trotman, former president and chief executive officer (CIB) and two Monteil-incorporated firms, Stone Street Capital and First Capital Ltd, St Lucia.

The issue was the sale of CIB shares to Monteil’s private company, financed by a loan from CIB itself to the company buying the shares while Monteil was chairman of both companies. So basically, Monteil authorised a loan from CIB, to his own company Stone Street Capital, so that Stone Street Capital can purchase shares from CIB. Ain’t that a kick in the nuts?

I can’t wait to see the outcome of this one, since certain laws were changed to facilitate the ‘transfer’ of those shares. This looking to me like de left hand pelting cuff while de right hand rubbing medicine on de lash.

* Leh we eh foget that Monteil was Treasurer of the PNM and is de PNM government who changed de laws to make all this possible…

** Leh we eh forget this was cleared by the Securities and Exchange Commission, whose leader is now currently contesting a seat under a PNM ticket.

*** Leh we eh forget that this one incident caused Trinidad and Tobago to drop in the Corruption Index.