DPP sends file on Panday’s bank account to police

PORT-OF-SPAIN — The merry-go-round continues on the investigation into a joint London bank account that former prime minister Basdeo Panday shares with his wife, Oma.

The latest development is that the director of public prosecutions (DPP), Geoffrey Henderson, has forwarded to the police for further investigation, the file originally sent him by the integrity commission.

As Henderson was doing so Tuesday, Panday was making public, details of the London account at a political meeting of his United National Congress. The account, reportedly having as much as TT$5.5 million at one point (TT$6=US$1), has been issued for payment transfers into other accounts.

In confirming that Henderson had passed the file from the integrity commission to Police Commissioner Hilton Guy, the DPP’s office said, according to a report in yesterday’s Guardian, that “certain issues needed to be cleared up”.

The “investigation”, as the newspaper reported, is a “bit peculiar” since there are no witnesses and “it is not a cut-and-dry case”.

A senior police officer, who prefers not to be named, said that they would now have to follow “a long paper trail” that may require the assistance of Scotland Yard.

After the police have completed their own investigation into the matter, the file will be returned to the Office of the DPP for a final decision on whether or not a case exists for a charge to be brought against Panday for failing to make a proper declaration of assets and liabilities to the Integrity Commission as required by law.

T&T gov’t staying out of TCL-Cemex matter

PORT-OF-SPAIN — The Trinidad and Tobago Government has decided to adopt a hands-off approach to the bid by Mexico’s giant cement corporation, Cemex, for ownership control of Trinidad Cement Holdings Limited (TCL).

Trade and Industry Minister Ken Valley said that while the government had been approached by the Oilfield Workers Trade Union (OWTU) to intervene in the matter, it had decided against doing so as it was one best left to the free decision of the shareholders of the company in which Cemex has a 20 per cent stake.

Valley’s statement of the government’s position has come ahead of next Monday’s crucial meeting of the shareholders of TCL to decide whether or not to remove the restriction against Cemex increasing its shareholding to beyond 20 per cent.

In addition to the OWTU, the National Workers Union of Jamaica and the Barbados Workers Union have communicated their concerns to their respective governments against the Cemex take-over of TCL that could negatively impact on the Caribbean Cement Company (Jamaica) and the Arawak Cement Company (Barbados).

According to an internal memorandum circulated by the TCL Group, shareholders have been warned that a take-over as proposed by Cemex “will more than likely result in the shut-down of manufacturing operations in Barbados and Jamaica as a first priority”, a development that would mean hundreds of job losses.

The OWTU had specifically requested the People’s National Movement government to use its influence in persuading either the Unit Trust Company (UTC) or the National Insurance Board (NIB) to block Cemex’s take-over bid of TCL.

But Trade and Industry Minister Valley said the government has to be mindful of the fact that it was operating in a “global environment” and that it could not “unreasonably withhold” a licence from Cemex should it succeed in acquiring majority control of TCL, as that may have “international implications”.

But regional trade union leaders have argued that Trinidad and Tobago was “evading” the real issue by adopting its current position which may lead to the destruction of a vital regional industry to the advantage of Cemex and further weaken the Caribbean to the “manipulations by foreign corporate interests”.

The Barbados prime minister, Owen Arthur, has made known his opposition to the Cemex take-over. And the NWU is this week hoping to have a response from Prime Minister P J Patterson on the issue as it will impact on the Jamaican Cement Company’s operations.

Kidnap ‘kingpin’ held in Trinidad

PORT-OF-SPAIN — The Trinidad and Tobago police have captured a man who they believe to be the ‘kingpin’ or mastermind behind a spate of kidnappings this year, of business people with big ransom demands for their release.

The prime suspect, whose name the cops have decided not to release, was due to appear at a parade yesterday along with some nine other persons detained for a series of criminal acts including the assassination attempt Monday on ex-Muslimeen security chief Hasan Anyabwile at his Belmont home.

Capture of the alleged head of the kidnapping ring followed last weekend’s abduction of a fisherman, Boodnath Ramlogan, for whom a TT$250,000 ransom as well as a quantity of “blocks of marijuana” have been demanded in exchange for his release.

Ramlogan was abducted while visiting his girlfriend at Savannah Villas in Aranguez. No ransom payment had been made by yesterday.

Prior to Ramlogan’s kidnapping, Anthony Sabga lll, grandson of business magnate Anthony Sabga, was abducted on July 14. He was released when an undisclosed payment was made in response to a ransom of TT$5 million.