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Contractor General's Department to probe alleged “sweetheart” deals
Thursday, 22 May 2008
The Contractor General's Department said it will conduct formal investigations into the charges which have been made by Minister of Finance and the Public Service, Audley Shaw, that the former Investment Bank, Dehring, Bunting and Golding (DB&G), had concluded "sweetheart deals" with the Government of Jamaica.
Contractor General, Greg Christie, has said that the OCG will undertake a formal investigation into certain transactions which were alleged to have involved the sale, to DB&G, of Government-owned receivables which were due from AIC Limited, and the re-sale of a portion of these receivables, by DB&G, to two the National Insurance Fund and the National Housing Trust.
The OCG will also undertake a formal investigation into the transaction allegedly involving the provision of a US$29.6 Million, 120 Day, short-term bridge financing facility, by DB&G, to the former Ministry of Finance and Planning.
The OCG has paid keen attention to the recent allegations attributed to Mr. Shaw, regarding the alleged transactions, as well as to responses made by the former Chairman and Chief Executive Officer of DB&G, and now Opposition Member of Parliament, Mr. Peter Bunting.
The OCG will seek to secure information regarding the transactions, via sworn statements formally requisitioned from relevant Government officials, former officers of DB&G and other persons
Thursday, 22 May 2008
The Contractor General's Department said it will conduct formal investigations into the charges which have been made by Minister of Finance and the Public Service, Audley Shaw, that the former Investment Bank, Dehring, Bunting and Golding (DB&G), had concluded "sweetheart deals" with the Government of Jamaica.
Contractor General, Greg Christie, has said that the OCG will undertake a formal investigation into certain transactions which were alleged to have involved the sale, to DB&G, of Government-owned receivables which were due from AIC Limited, and the re-sale of a portion of these receivables, by DB&G, to two the National Insurance Fund and the National Housing Trust.
The OCG will also undertake a formal investigation into the transaction allegedly involving the provision of a US$29.6 Million, 120 Day, short-term bridge financing facility, by DB&G, to the former Ministry of Finance and Planning.
The OCG has paid keen attention to the recent allegations attributed to Mr. Shaw, regarding the alleged transactions, as well as to responses made by the former Chairman and Chief Executive Officer of DB&G, and now Opposition Member of Parliament, Mr. Peter Bunting.
The OCG will seek to secure information regarding the transactions, via sworn statements formally requisitioned from relevant Government officials, former officers of DB&G and other persons