Central Bank of Trinidad vs. CL Financial et al, a 10 Billion Dollar Bailout

Insurance, Financial Institution
Management Fraud, Asset Search

"Central Bank calls in Lindquist in CLICO probe"

"…the Central Bank has retained the services of ace forensic investigator Robert Lindquist to sift through the tangled records of financially troubled insurance giant, CLICO, to determine whether it was a case of bad judgment or corporate malfeasance…tasked with the job of finding out what happened to cause the avalanche of financial troubles at the Lawrence Duprey-owned empire…Lindquist had no comment…'No disrespect to you but I am not talking to the press' was all he said.  The investigation will be conducted within the context of the January 30, 2009 Memorandum of Understanding signed  between the Finance Minister and CL Financial's executive chairman Duprey".

The following excerpt taken from Duprey's "VISION BEHIND CLF" and dated April 2008 gives the size and extent of this investigation:

"Many people in the business community have accurately described Duprey as a     visionary.  His…many successes attest to this.  CLF grew from a holding company for     only CLICO in 1993 to a globally competitive corporation boasting over US$13 billion     of assets in 2006.  CLF now holds shares in over 66 companies in 33 countries worldwide     and is considered the second largest conglomerate in the Caribbean".

"Lindquist probe bedrock of CLICO lawsuit"

"Investigations in at least several separate jurisdictions unearthed forensic evidence which led to the civil suit being filed this week by the Central Bank and CLICO against former CL Financial Chairman Lawrence Duprey and the group's former financial director Andre Monteil…Lindquist's forensic findings, sources said, formed the bedrock for the civil suit filed against…and raised questions which must be ventilated in the courts".


pdf Read "Central Bank calls in Lindquist in CLICO probe" dated May 15, 2009

pdf Read "Lindquist probe bedrock of CLICO lawsuit" dated June 10, 2011

pdf Read "CLICO Case Excerpt from Statement of Claim"