The insurance company linked to the money laundering charges faced by former Minister of Commerce Donville Inniss, will not face the United States law courts.
This is even though the United States Department of Justice (USDOJ) found that the Insurance Corporation of Barbados Ltd (ICBL), had paid US$36 000 in bribes and had realised almost US$94 000 in net profits from the ill-gotten contracts.
The company’s chairman, John Wight, in a release at the weekend, said he was pleased with the turn of events and that the matter “is now behind us”.
In a letter, dated August 23, 2018, from United States attorney for the Eastern District of New York, Richard Donoghue, and the acting chief of the Fraud Section of the Criminal Division of the USDOJ to ICBL’s attorney, the USDOJ announced it would be closing its investigations into the matter. (HLE)
Subscribe now to our eNATION edition.
For the latest stories and breaking news updates download the Nationnews apps for iOS and Android