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BIPA a-digging

Mike King

BIPA a-digging

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THE?DEPTH?of the involvement of late Prime Minister David Thompson in CLICO?International Life Insurance Limited (CIL) has engaged the attention of the Barbados Investors & Policyholders Alliance Inc. (BIPA).
BIPA head June Fowler yesterday noted that one of the major revelations arising out of a recent forensic audit of CIL was that Thompson’s law firm received $3.3 million in legal and retainer fees from the insurance company, but those fees were actually destined for former CLICO executive chairman Leroy Parris.
“How deeply involved was he [Thompson] as an attorney at law and a friend of Parris? From what I understand, there were cheques written to his company and there were cheques to him as an individual.
“We need to investigate these transactions and see whether there were above board,” Fowler said.
The Deloitte-led forensic audit has also revealed that almost $10 million was spent between 2007 and 2009 to lease a corporate jet.
Read the full story in today’s DAILY NATION.