I am somewhat bewildered.  Why is the Peoples National Congress so afraid of an investigation into Globe Trust? One wonders, if some of its leadership had their fingers in the cookie jar, which through absolute mismanagement, wrought by unsecured loans to selves, friends and families caused the collapse of Globe Trust, and also the destruction of many lives, their plans, their retirements, especially, those Guyanese of African descent, who were happy that an institution like this existed, where they felt comfortable, that their money would be secured and where they could be helped, and they also can help.  This Globe Trust betrayed its people, and they the former management are waxing fat, and getting fatter.

I know many retired police and military personnel who placed money in the institution, so that they may enjoy their lives, feel safe and comfortable for the rest of their lives.  I saw one gentleman at a hearing we had at City Hall cringe as he spoke, he knows his pains, millions of life savings gone.  Others saved for their children’s education and welfare, money gone!  They and even I were lured, I believe criminally to save, save, save, get good interest and win fabulous prizes, etc.  They had a criminal conspiracy for they knew they were in trouble, yet they lured people, and then stopped providing withdrawals, when the entire matter came to light.

I have old and good friends in the PNC, I have friends everywhere.  My advice to them is to encourage an investigation into CLICO and also Globe Trust, stop being defensive of Globe Trust and its Directorate which stole and squandered the people’s money, who to date does not wish to repay.  It makes the PNC look suspicious and misguided.  Such behaviour causes rational people to want to move away from friendship with the PNC.  Why be one-sided?

In fairness I wish to also state, as I did before in the print and electronic media, that I believe government has to bear much responsibility for the Globe Trust debacle, as their Bank, the Bank of Guyana,  the Mother Bank in Guyana so to say, which oversees compliance, with all financial institutions, knew for years that Globe Trust was in trouble, but took action when it was too late, and even though it is not so, it appears, as if Globe Trust was lured to bankruptcy.  The government’s bank was the supervisory institution hence, it failed to act, and therefore, government is responsible for its servant, the Bank of Guyana which failed.

The facts above, known long ago, and the facts uncovered by the auditors of Globe Trust, warrant a criminal investigation.   But that with Globe Trust, as time is past and still going, place private criminal charges against the Directors. If this is done, I believe money will start pouring in, and unlike civil matters, it will not take years.  The facts of criminality exist; the facts of criminal conspiracy are there.  For the sake of the depositors, charge the culprits, prevent them from leaving Guyana, and those who have escaped the shores, have them extradited.  Deal firmly with this and CLICO, send a message of no-nonsense style of government in dealing with those who wish to think they can use corporations to steal from the people of Guyana.
ROSHAN KHAN