News

Atl fraud case: Lynch told police he knew consent was needed

Paul Henry

Thursday, February 13, 2014    

Print this page Email A Friend!


PATRICK Lynch, accused as being the mastermind behind an alleged fraud at the ATL Pension Scheme, had admitted to the police that he was aware of the provision for consent to be granted before surplus could be distributed from the company's pension fund.

According to a question-and-answer session conducted by the police with Lynch on March 21, 2011 and read yesterday in the Corporate Area Resident Magistrate's Court, Half-Way-Tree, Lynch answered 'yes' when asked by detectives if he was familiar with the section of the Trust Deed which said that surplus may be distributed by the trustee with the consent of the founder.

The 'founder' in this case is Gorstew Ltd, the holding company for Gordon 'Butch' Stewart's group of companies, which include the Sandals hotel chain, Appliance Traders Limited, ATL Automotive, the Jamaica Observer newspaper and FYAH Radio.

The questions and answers were read into evidence by Detective Inspector Karen Harrison of the St Andrew North Police Division who was led by prosecuting attorney Hugh Wildman in his examination-in-chief.

Evidence was given previously by ATL general counsel Dmitri Singh and global chief financial officer David Davies that Lynch had said, when confronted in December 2010 about the distribution, that he didn't know that consent was needed.

Harrison is to continue in the witness box today.

Dr Jeffery Pyne, a former managing director of Gorstew and Catherine Barber, former general manager of the fund, are believed to have conspired with Lynch in the forging of four letters to deceive that consent was given for the distribution of $1.7 billion in pension fund surplus.

ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT

Poll

If you found $10 million in the street would you return it to the owner?
Yes
No


View Results »


ADVERTISEMENT

Today's Cartoon

Click image to view full size editorial cartoon
ADVERTISEMENT