THE Guyana Bank for Trade and Industry (GBTI) on Friday failed in its application to have Chief Justice (ag) Justice Roxanne George-Wiltshire vary a Production Order dated August 29, 2017.
However, the chief justice has extended the time provided for the bank to produce the required documents.
In fact, the bank has until November 3 to hand over the documents, but through its attorneys Ralph Ramkarran, S.C and Stephen Fraser; the bank had requested an extension of three weeks.
The Special Organised Crime Unit (SOCU) as part of its investigation into the US$500M Guyana rice Development Board (GRDB) fraud case had moved to the court to obtain an order instructing the GBTI to produce all required documents to aid in its investigation.
On Friday, the chief justice (ag) also adjourned the matter to November 10 after she sought to address the application made by the bank to be relieved from the production of documents that were referred to in the August 29 Production Order on the grounds that they have either been destroyed by the applicant after the applicant’s retention period had expired, or they have been lost and cannot be found despite diligent efforts to find them.
The bank failed in its bid to be relieved from producing the documents.
The bank is said to have an internal policy with regard to the retention of documents for its customers, however, the Anti- Money Laundering and Combating the Financing of Terrorism (AML/CFT) legislation provides for banks and or financial institutions to maintain records for their customers up to a period of 10 years.
As a result, the Attorney General’s Chambers contends that the bank’s internal policy cannot supersede that of the law.
The bank’s application spoke specifically to documents which the bank thought have been destroyed after the retention period as well as those which have been lost, likely to misfiling and requested an extension or stay of three weeks from the date of the Production Order to enable it to find and produce the documents which the production refers.
The request was rejected by Solicitor-General, Kim Kyte, who appeared in association with Leslyn Noble on behalf of SOCU. While some documents were submitted to SOCU, others were not and sources have indicated that the failure to produce the requested documents has somewhat stalled the unit’s investigation. Several formal senior officials of GRDB have since been charged.
SOCU submitted that GBTI should not be given three weeks to produce the requested documents, but Justice George-Wiltshire after considering the contentions of both sides, decided that two weeks are sufficient time for the bank to produce the required documents.
As it relates to granting relief from sanctions for the production of some documents, the chief justice (ag) is yet to rule; she also refused application for a stay of the order.
This matter will be dealt with on November 10, when the matter comes up before the chief justice (ag) again.
SOCU believes that the bank is manipulating the process and did not diligently treat with the court’s order.
