Like a photo montage is a composition of several photos, the Monteil affair comprises of several layers, which, like an onion, when peeled away, brings me close to tears.
Consider this little tip revealed by Winston Dookeran:
Consider this little tip revealed by Winston Dookeran:
Dookeran said the Housing Development Corporation (HDC), formerly chaired by Monteil, lent $60 million to Clico Investment Bank to lend to Monteil's Stone Street Capital Co Ltd to buy the shares in HMB.
So, essentially, the chairman of the HDC oversees the authorisation of a 'loan' to Clico (where he is Executive Director of C L Financial Limited and a director of Clico Investment Bank) which later goes to a private company owned by said chairman to buy shares in HDC (where he is chairman).
Clearly a case of taking out of the left pocket and putting in the right, only the transfer is of funds not belonging to you.
Let us not forget though that it is Andre Monteil who sent a cheque to Sherman McNicolls (chief magistrate) during the trial of the opposition leader, allegedly to re-purchase some land that Shermie had originally bought from Home Construction Limited (HCL), a subsidiary of the CL Financial Group of companies. Final payment was $3.9 million to Shermie.
Monteil is also the treasurer of the government's ruling PNM party. The same party that has as it's political leader, no less than Pa-trick the prime minister, who made it possible for this transaction to happen by changing the law (hence the Central Bank and SEC conclusion that no laws were broken but the 'spirit' of the transaction was wrong). One wonders what percentage of the transaction ended up in a Manning account.
I have to say, this reminds me a great deal of the Warners' role in the World Cup ticket affair.
And I have been wondering at the odd silence from Monteil himself, odd because in the world of finance a man's reputation is just as important as his CV, and after this he is so tainted who would hire him? Or does he not need to work? Is there something here we aren't seeing?
The role of Pa-trick in all of this going back to the land transaction, is itself scary and puzzling. Scary because it is puzzling, since we know he actually called in Sat Sharma to his office and told him 'Resign or be charged'.
Monteil's magic seems to be working... he has all but disappeared.
Clearly a case of taking out of the left pocket and putting in the right, only the transfer is of funds not belonging to you.
Let us not forget though that it is Andre Monteil who sent a cheque to Sherman McNicolls (chief magistrate) during the trial of the opposition leader, allegedly to re-purchase some land that Shermie had originally bought from Home Construction Limited (HCL), a subsidiary of the CL Financial Group of companies. Final payment was $3.9 million to Shermie.
Monteil is also the treasurer of the government's ruling PNM party. The same party that has as it's political leader, no less than Pa-trick the prime minister, who made it possible for this transaction to happen by changing the law (hence the Central Bank and SEC conclusion that no laws were broken but the 'spirit' of the transaction was wrong). One wonders what percentage of the transaction ended up in a Manning account.
I have to say, this reminds me a great deal of the Warners' role in the World Cup ticket affair.
And I have been wondering at the odd silence from Monteil himself, odd because in the world of finance a man's reputation is just as important as his CV, and after this he is so tainted who would hire him? Or does he not need to work? Is there something here we aren't seeing?
The role of Pa-trick in all of this going back to the land transaction, is itself scary and puzzling. Scary because it is puzzling, since we know he actually called in Sat Sharma to his office and told him 'Resign or be charged'.
Monteil's magic seems to be working... he has all but disappeared.
