Ruel Reid gets $23.3 million settlement
Ruel Reid is set to receive $23.3 million as a settlement package after stepping down as principal of Jamaica College (JC)
The Ministry of Education is to provide $16.1 million to the embattled former Cabinet minister while JC will pay an additional $7.2 million. Reid stepped down as principal of JC on Saturday ahead of the expiration of a special leave that was granted to him when he was appointed education minister.
The education ministry had rejected a recommendation by the school’s board that the special leave be extended an additional five years.
Initial reports were that Reid’s settlement was close to $100 million, however, Education Minister Fayval Williams debunked that claim.
READ: Not True! Education minister says Reid’s compensation package ‘nowhere near’ $100M
Reid has been before the court since October 2019 on charges of defrauding the Ministry of Education and Caribbean Maritime University of millions of dollars.
He was forced to resign from the Andrew Holness-led Cabinet in March 2019.
