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Missing invoices, no formal contracts (PAN IN PAIN PART 2)

Posted by Claude Gonzales on November 17, 2019 at 9:50pm in Steelband Music

November 17, 2019

Trinidad Guardian

"Close to $ 4 mil­lion was paid out by Pan Trin­ba­go to FCL Fi­nan­cial Ltd and its CEO Daniel Lam­bert over a three-year pe­ri­od with bare­ly any pa­per trail found by au­di­tors to jus­ti­fy these mam­moth pay­ments or any sem­blance of a for­mal agree­ment."

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  • Bugs November 18, 2019 at 12:21pm

    But the as­tound­ing fi­nan­cial ir­reg­u­lar­i­ties did not end there as Ernst and Young said, “Cheque pay­ment vouch­ers were not seen for over 50 pay­ments to­talling more than TT$4.7m,” and they were un­able to con­firm if these ex­pens­es were di­rect­ly re­lat­ed to the ICP.

    College boy already said it was D'Photo and Rolly Polly running the show.  So who why can't the gangtas go to jail?

    This more than a leadership issue. Time to shut it down!

    bugs

  • Bugs November 18, 2019 at 12:08pm

    The au­di­tors no­ticed that for Panora­ma 2013 “there were five in­stances where cheques were com­plet­ed and signed off pri­or to the cheque pay­ment vouch­ers be­ing dat­ed and au­tho­rised, re­sult­ing in unau­tho­rised cheque pay­ments of prize monies to­talling TT$3.5m. There were al­so two in­stances where no date was seen on the vouch­er, hence we could not con­firm whether these pay­ments were au­tho­rised pri­or to the prepa­ra­tion of the cheque.”

    They al­so no­ticed a sim­i­lar trend for Panora­ma 2016. “There were five in­stances where the date record­ed on the gen­er­al ledger matched the cheque date, how­ev­er, the vouch­er was com­plet­ed a day af­ter the cheque was pre­pared. There was an­oth­er in­stance where a pay­ment was made to an in­di­vid­ual be­fore the vouch­er was pre­pared.

    Marcus Ash, did you read this and agree to stay silent and not inform the public?

    bugs

  • Bugs November 18, 2019 at 11:59am

    Ernst and Young not­ed that the lim­it on the over­draft fa­cil­i­ty was not doc­u­ment­ed in those min­utes, how­ev­er, in a sub­se­quent, meet­ing with the CEC, more than a year lat­er on Oc­to­ber 6, 2014, it was stat­ed:

    “The meet­ing was in­formed that the or­gan­i­sa­tion was able to ne­go­ti­ate an in­crease in the over­draft fa­cil­i­ty from the First Cit­i­zens Bank from $300,000 to $3 mil­lion.”

    Can someone from First Cit­i­zens Bank please explain what Pan Trinbago used as collateral to secure the loan or overdraft?

    bugs

  • Bugs November 18, 2019 at 11:49am

    "We not­ed a let­ter from the NCC to Pan Trin­ba­go, dat­ed Jan­u­ary 3, 2017, for an ad­vance pay­ment of TT$2,405,000. The let­ter stat­ed that the pur­pose of the pay­ment was: “Dis­burse­ment to Pan Trin­ba­go-East­ern Re­gion pan play­ers out­stand­ing re­mit­tance for 2016.”

    The let­ter fur­ther ad­vised: “The amount would be de­duct­ed from the al­lo­ca­tion for 2017 Panora­ma/Tick­et rev­enue.”

    Ernst and Young con­clud­ed in their re­port, “Based on this let­ter, it ap­pears that the East­ern Re­gion pan play­ers did not re­ceive their play­er’s re­mit­tance on time, ie in Sep­tem­ber/Oc­to­ber 2016. We were un­able to ver­i­fy why the as­so­ci­a­tion’s 2016 dis­burse­ments were not utilised to pay the East­ern Re­gion, pan play­ers.”

    Calling on Mr. Joseph, the former PRO of Pan Trinbago,  to give an explanation of the above findings right here on the WST forum.

    bugs

  • Gregory Lindsay November 17, 2019 at 10:30pm

    Let de JSC horse bolt from de stable nuh....is time to be reminded where malfescence could cause yuh to reach 

  • Claude Gonzales November 17, 2019 at 10:11pm

    When WE at WHEN STEEL TALKS were COMPLAINING BITTERLY (for years) about CORRUPTION IN PAN TRINBAGO -- where was MARK BASSANT and all these other CONCERNED REPORTERS?

    Right now ah have ah REAL CONCUSSION -- to the extent that I have to go back and REPLAY THE TAPE. Because for years I thought that MERRYTONESTOTHEBONE was LYING -- until I hear KENNY PHILLIPS (a BEVERLEY DISCIPLE) say tonight that THE SAME PLAYERS was PLAYING in BAND AFTER BAND in the ALL YEAR 2020 SINGLE PAN PANORAMA.

    So BEVERLEY (and T&T SOCCER -- when dey go FIRE THAT COACH) had a REAL BAD DAY TODAY. But she so big in her OWN MIND that she CAN DO NO WRONG. And I thought DONALD TRUMP WAS BAD!!!

    Anyway, let me focus on my NEXT ISSUE: REMOVING THE VICE PRESIDENT FROM OFFICE for CORRUPTION!!!

    Ah sure DEM GUARDIAN REPORTERS doh have the INSIDE TRACK on me on THAT STORY -- and I doh even LIVE IN TRINIDAD!!!

    Come on GREGORY LINDSAY -- yuh either ON THE UPPI TEAM or yuh KISSING UP for a BOAT RIDE TO TOBAGO.

    Make up YUH MIND!!!

    PART 1 and PART 2 and DEY EH SAY NOTHING NEW YET.

    If they really want to GET CURRENT: LEH WE TALK ABOUT THE VEE PEE!!!

    Ah sworn to secrecy -- so I cyar tell THE STORY!!!

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