Read on Twitter
But since we are on the topic of USD.... Let's Talk about the #Dehring #Bunting & #Golding #SweetHeartDeal #Thread: https://twitter.com/MarkJGolding/status/1294816070256263168
Receivables from the sale of National Commercial
Bank & JOSLIN Jamaica Redevelopment Foundation, instruments were sold
under ADDED discounts, to an entity (DB&G), which was close to the PNP Govt under very questionable circumstances.
Bank & JOSLIN Jamaica Redevelopment Foundation, instruments were sold
under ADDED discounts, to an entity (DB&G), which was close to the PNP Govt under very questionable circumstances.
In addition, other inexplicable but equally reprehensible acts included the sale of assets to other government entities while using financial intermediaries
unnecessarily and at great cost to the taxpayers.
unnecessarily and at great cost to the taxpayers.
On March 26, 2004…receivables due from AIC for some J$2.5 billion, was sold by the Ministry of Finance (Minister Omar Davies,pay to pay attn to this), to Dehring, Bunting and Golding Limited…at a
6% discount.
6% discount.
In their findsing the OCG stated that..."The OCG must, therefore, conclude that, whatever the circumstances and reasons
were, the execution of a GOJ contract, prior to the finalization of a formal written
contract, was in fact irregular and highly improper."
were, the execution of a GOJ contract, prior to the finalization of a formal written
contract, was in fact irregular and highly improper."
Gets interesting.... The OCG concluded that the DB&G presented the NHT with the terms and conditions of the AIC Receivables transaction PRIOR to the finalization of a formal
signed agreement with the then MOFP. How?????
signed agreement with the then MOFP. How?????
The OCG also found and concluded
that the then MOFP did not directly approach the NIF, the NHT or any other Public Body, to sell to them, the Receivables from the sale of the NCB Shares to AIC Ltd. They were sold to #DBnG and then resold to these Govt bodies. :)
that the then MOFP did not directly approach the NIF, the NHT or any other Public Body, to sell to them, the Receivables from the sale of the NCB Shares to AIC Ltd. They were sold to #DBnG and then resold to these Govt bodies. :)
I will share the other findings later about the 2.5Bn dollar trnasaction that took place.
In the interim, read and catch up: http://www.japarliament.gov.jm/attachments/498_OCG%20Investigation%20Report%20-%20DB&G.pdf
Its way more spicy than what I have tweeted so far. Talk about Unsolicited Proposals? Lol
In the interim, read and catch up: http://www.japarliament.gov.jm/attachments/498_OCG%20Investigation%20Report%20-%20DB&G.pdf
Its way more spicy than what I have tweeted so far. Talk about Unsolicited Proposals? Lol
Closing: Both Bunting and Golding are now PNP MPs. The then Finance Minister, Omar Davies has left politics. Mark Golding now has his constituency. Have a good Sunday.
