By Andre Bagoo
January 13 2012 – newsday.co.tt
FORMER Finance Minister Karen Nunez-Tesheira yesterday for the first time revealed the personal reasons she had for taking her money out of the Clico Investment Bank (CIB) in December 2008, saying she did so in order to cut ties with Clico because her late husband Russell Tesheira – right up to his death in 2004 – had been badly treated by Clico and its former executive chairman Lawrence Duprey.
“All the complaints about Clico and the way they conducted their business, guess when they started?” Nunez-Tesheira said at the Clico Commission of Inquiry yesterday. “The year 2004. When did my husband die? April 2004. That says a lot.”
“They ill-treated my husband, they ill-treated members of staff who gave their whole life to the company and I did not agree with the way in which Mr Duprey was conducting the business,” an emotional Nunez-Tesheira said. “It took very little for me to decide to take my money out.”
Full Article : newsday.co.tt
I didn’t like how CLICO did business
FORMER finance minister Karen Nunez-Tesheira yesterday gave an “emotional and expressive” account of the reasons behind her decision to break a CLICO Investment Bank (CIB) fixed deposit weeks before a billion dollar bailout of CL Financial was brokered.
…Monteil tried to withdraw millions
ANDRE MONTEIL, former group financial director of CL Financial, unsuccessfully attempted to withdraw “millions of dollars” from CLICO Investment Bank (CIB) weeks before a billion-dollar bailout of CL Financial was brokered, former finance minister Karen Nunez-Tesheira stated yesterday.
…Tesheira: Monteil was ‘seeing about himself’
FORMER PNM treasurer Andre Monteil was “seeing about himself” when he was engaged in negotiations on behalf of CL Financial in January 2009 as the group, facing collapse, sought Government help.