PM admits she met wid Trafigura reps as a courtesy

[Blackstar*]

Re: PM admits she met wid Trafigura reps as a courtesy

[ QUOTE ]
<font color="brown">So unno plan fi play di game uh?</font>

Tit for tat - Golding's tax info leaked, data pointless
published: Friday | October 13, 2006

Ross Sheil and Edmond Campbell, Staff Reporters

Documents showing income tax liabilities of Opposition Leader Bruce Golding, stamped by the Inland Revenue Department in Old Harbour, St. Catherine, were leaked to The Gleaner yesterday.

Verified as genuine by Mr. Golding's accountant, Victor Hamilton, the documents, signed by him, acknowledge the indebtedness of Mr. Golding of $1,007,856 as of May 3, 2004, for the years 1998-2002. The accountant said the money had been fully settled. Mr. Hamilton said the liabilities related to taxes owed by Mr. Golding's bakery in Old Harbour.

He said the final payment of $346,070 on January 18, 2005, overpaid by $48,000, Mr. Golding's debt. He produced receipts for three instalments but given the short notice of the reporters' visit, he was unable to produce documentation to support the final payment.

"Well, I don't need to question what possible source this is coming from ... Evidently they are prepared to go and delve into persons' tax liabilities. That is very interesting!" said Mr. Golding speaking on Mr. Hamilton's office telephone. The Jamaica Labour Party leader himself revealed in Gordon House last week bank documents showing the $31 million 'gift' from Dutch oil company Trafigura Beheer to the People's National Party (PNP). That revelation has embarrassed the Government and set off a firestorm. One minister has resigned in the wake of the scandal and Prime Minister Portia Simpson Miller is yet to comment on the matter.

Mr. Golding declined to speculate upon the source of the leak but said that he would carry out investigations.

Alarmed

"I'm astonished," said his accountant, noting that having practised for the last 30 years, such a leak was in his view, unprecedented. "This is a very serious matter; this is a personal matter between the individual and the commissioner of the Inland Revenue Department."

Interviewed shortly after at his downtown King Street office, Inland Revenue Deputy Commissioner Padan E. Manning expressed concern that the leak might have come from his department but said it was too early for the documents to be verified or for further comment.

The bank documents produced by Mr. Golding at Gordon House last week Tuesday were cheques drawn on FirstCaribbean International Bank showing transactions with CCOC Associates, linked to Mr. Campbell and the PNP.

In a statement yesterday, FirstCaribbean denied that it had fired an employee and that the leak had come from the bank. "FirstCaribbean has not, at this point, accepted any responsibility for any alleged breach of customer confidentiality," the statement said.

http://www.jamaica-gleaner.com/gleaner/20061013/lead/lead7.html

[/ QUOTE ]

If that's all the PNP could grab on to... Make me waste my time reading such foolishness. [img]/forums/images/graemlins/704555_dwl.gif[/img]

[niceniss]

Re: PM admits she met wid Trafigura reps as a courtesy

[ QUOTE ]
[ QUOTE ]
<font color="brown">So unno plan fi play di game uh?</font>

Tit for tat - Golding's tax info leaked, data pointless
published: Friday | October 13, 2006

Ross Sheil and Edmond Campbell, Staff Reporters

Documents showing income tax liabilities of Opposition Leader Bruce Golding, stamped by the Inland Revenue Department in Old Harbour, St. Catherine, were leaked to The Gleaner yesterday.

Verified as genuine by Mr. Golding's accountant, Victor Hamilton, the documents, signed by him, acknowledge the indebtedness of Mr. Golding of $1,007,856 as of May 3, 2004, for the years 1998-2002. The accountant said the money had been fully settled. Mr. Hamilton said the liabilities related to taxes owed by Mr. Golding's bakery in Old Harbour.

He said the final payment of $346,070 on January 18, 2005, overpaid by $48,000, Mr. Golding's debt. He produced receipts for three instalments but given the short notice of the reporters' visit, he was unable to produce documentation to support the final payment.

"Well, I don't need to question what possible source this is coming from ... Evidently they are prepared to go and delve into persons' tax liabilities. That is very interesting!" said Mr. Golding speaking on Mr. Hamilton's office telephone. The Jamaica Labour Party leader himself revealed in Gordon House last week bank documents showing the $31 million 'gift' from Dutch oil company Trafigura Beheer to the People's National Party (PNP). That revelation has embarrassed the Government and set off a firestorm. One minister has resigned in the wake of the scandal and Prime Minister Portia Simpson Miller is yet to comment on the matter.

Mr. Golding declined to speculate upon the source of the leak but said that he would carry out investigations.

Alarmed

"I'm astonished," said his accountant, noting that having practised for the last 30 years, such a leak was in his view, unprecedented. "This is a very serious matter; this is a personal matter between the individual and the commissioner of the Inland Revenue Department."

Interviewed shortly after at his downtown King Street office, Inland Revenue Deputy Commissioner Padan E. Manning expressed concern that the leak might have come from his department but said it was too early for the documents to be verified or for further comment.

The bank documents produced by Mr. Golding at Gordon House last week Tuesday were cheques drawn on FirstCaribbean International Bank showing transactions with CCOC Associates, linked to Mr. Campbell and the PNP.

In a statement yesterday, FirstCaribbean denied that it had fired an employee and that the leak had come from the bank. "FirstCaribbean has not, at this point, accepted any responsibility for any alleged breach of customer confidentiality," the statement said.

http://www.jamaica-gleaner.com/gleaner/20061013/lead/lead7.html

[/ QUOTE ]

If that's all the PNP could grab on to... Make me waste my time reading such foolishness. [img]/forums/images/graemlins/704555_dwl.gif[/img]

[/ QUOTE ]

[img]/forums/images/graemlins/704555_dwl.gif[/img] [img]/forums/images/graemlins/704555_dwl.gif[/img]

I tell you star, it shameful... [img]/forums/images/graemlins/smirk.gif[/img]

[Yuriatin]

Re: PM admits she met wid Trafigura reps as a courtesy

Suh it guh Blackstar ... suh it guh.

They've got to now bob &amp; weave, bob &amp; weave and grasp at straws!

(kissteet)

"Chase dem crazi ball edds outta town"!!!! [img]/forums/images/graemlins/eek.gif[/img]



[ QUOTE ]
[ QUOTE ]
<font color="brown">So unno plan fi play di game uh?</font>

Tit for tat - Golding's tax info leaked, data pointless
published: Friday | October 13, 2006

Ross Sheil and Edmond Campbell, Staff Reporters

Documents showing income tax liabilities of Opposition Leader Bruce Golding, stamped by the Inland Revenue Department in Old Harbour, St. Catherine, were leaked to The Gleaner yesterday.

Verified as genuine by Mr. Golding's accountant, Victor Hamilton, the documents, signed by him, acknowledge the indebtedness of Mr. Golding of $1,007,856 as of May 3, 2004, for the years 1998-2002. The accountant said the money had been fully settled. Mr. Hamilton said the liabilities related to taxes owed by Mr. Golding's bakery in Old Harbour.

He said the final payment of $346,070 on January 18, 2005, overpaid by $48,000, Mr. Golding's debt. He produced receipts for three instalments but given the short notice of the reporters' visit, he was unable to produce documentation to support the final payment.

"Well, I don't need to question what possible source this is coming from ... Evidently they are prepared to go and delve into persons' tax liabilities. That is very interesting!" said Mr. Golding speaking on Mr. Hamilton's office telephone. The Jamaica Labour Party leader himself revealed in Gordon House last week bank documents showing the $31 million 'gift' from Dutch oil company Trafigura Beheer to the People's National Party (PNP). That revelation has embarrassed the Government and set off a firestorm. One minister has resigned in the wake of the scandal and Prime Minister Portia Simpson Miller is yet to comment on the matter.

Mr. Golding declined to speculate upon the source of the leak but said that he would carry out investigations.

Alarmed

"I'm astonished," said his accountant, noting that having practised for the last 30 years, such a leak was in his view, unprecedented. "This is a very serious matter; this is a personal matter between the individual and the commissioner of the Inland Revenue Department."

Interviewed shortly after at his downtown King Street office, Inland Revenue Deputy Commissioner Padan E. Manning expressed concern that the leak might have come from his department but said it was too early for the documents to be verified or for further comment.

The bank documents produced by Mr. Golding at Gordon House last week Tuesday were cheques drawn on FirstCaribbean International Bank showing transactions with CCOC Associates, linked to Mr. Campbell and the PNP.

In a statement yesterday, FirstCaribbean denied that it had fired an employee and that the leak had come from the bank. "FirstCaribbean has not, at this point, accepted any responsibility for any alleged breach of customer confidentiality," the statement said.

http://www.jamaica-gleaner.com/gleaner/20061013/lead/lead7.html

[/ QUOTE ]

If that's all the PNP could grab on to... Make me waste my time reading such foolishness. [img]/forums/images/graemlins/704555_dwl.gif[/img]

[/ QUOTE ]

[Dr.Dudd]

Re: PM admits she met wid Trafigura reps as a courtesy

It is a pity we the educated couldn't see the slippery slope in which the confidential information of many is now open season
That is how everything start in Jamaica,with one act that is accepted thopugh illegal,because of the result.
and all thes posters who have been bashing PJ Patterson for a statement 'et al' Of laws not to be a shackel. Prove with their reaction to this incident, that they believe that 'the law should not be a shackel' as long as the result of breaking it is justified. Pity they don't know how popular that belief is with criminals. They all justify breaking the law,as long as it justified their ends.
Not to say I believe that we have any such types on this board.
We certainly don't, but it is a pity again that people of such noble actions can err in their judgement,due to emotional instead of logical reaction.

[Tuff Gong]

Re: PM admits she met wid Trafigura reps as a courtesy

[ QUOTE ]
<font color="red">...and all thes posters who have been bashing PJ Patterson for a statement 'et al' Of laws not to be a shackel. Prove with their reaction to this incident, that they believe that 'the law should not be a shackel' as long as the result of breaking it is justified. Pity they don't know how popular that belief is with criminals. They all justify breaking the law,as long as it justified their ends.</font>

[/ QUOTE ]

Come.... come please get your mind right?
We were bashing PJoke? Then by bashing PJoke we show that we believe that the law should not be a shackle?
PJoke broke the law. When challenged he said he knew he had broken the law, but in his thinking, <font color="blue">Law is not a Shackle to enslave, but a tool for social transformation.</font>

Did the unnamed poster(s) supported this position?

[ QUOTE ]
<font color="red">It is a pity we the educated couldn't see the slippery slope in which the confidential information of many is now open season
That is how everything start in Jamaica,with one act that is accepted thopugh illegal,because of the result.</font>

[/ QUOTE ]

You count yourself among the so-called educated?

Anyway, I ask who, when, where and how were laws broken? The bank seh a noh dem, den a who?
Another question I have to ask. I am having a pre-Martha Stewart Moment, what sauce goes with baked crow this Thanksgiving.

Fri Oct 13, 2006
<font color="red">First Caribbean refuses to take responsibility for Trafigura leak</font>

First Caribbean International Bank has moved to douse growing speculation that it has been held responsible for the leaking of confidential records on a disbursement from Dutch oil firm Trafigura Beheer.

The announcement came hours after the RJR News Centre reported that the worker who was sent on leave in connection with the alleged leak was back on the job.

In a statement issued late Thursday, First Caribbean said at this point it has not accepted any responsibility for the alleged breach of customer confidentiality.

According to Managing Director of First Caribbean, Milton Brady, the bank's probe has not been completed and it will not make any comment on the matter.

Mr. Brady says a comprehensive investigation is being carried out to establish whether any breach of the bank's confidentiality policies occurred and if any employee was involved.

He added that First Caribbean has not terminated the service of any employee with respect to the matter.

Mr. Brady says it is standard practice to request an employee to take administrative leave while an investigation is being conducted.

http://www.radiojamaica.com/news/story.php?category=2&amp;story=29101

[RichD]

Re: PM admits she met wid Trafigura reps as a courtesy

[ QUOTE ]
It is a pity we the educated couldn't see the slippery slope in which the confidential information of many is now open season
That is how everything start in Jamaica,with one act that is accepted thopugh illegal,because of the result.
and all thes posters who have been bashing PJ Patterson for a statement 'et al' Of laws not to be a shackel. Prove with their reaction to this incident, that they believe that 'the law should not be a shackel' as long as the result of breaking it is justified. Pity they don't know how popular that belief is with criminals. They all justify breaking the law,as long as it justified their ends.
Not to say I believe that we have any such types on this board.
We certainly don't, but it is a pity again that people of such noble actions can err in their judgement,due to emotional instead of logical reaction.

[/ QUOTE ]


dc yuh a spin hard eh [ QUOTE ]
The central bank is downplaying the breach of client confidentiality in the Trafigura/PNP scandal and has brushed aside suggestions of an implosion, even as government tries desperately to stem the political fall-out and manufacturers claimed it could damage business confidence.

On Wednesday, Bank of Jamaica governor and commercial bank regulator Derick Latibeaudiere, said that the revelation of transactions on the CCOC account, linked to Colin Campbell who has since resigned from the Cabinet, was an isolated breach insufficient to worry the central bank.

The leak actually represents what might be Jamaica's first whistle-blower case, and could likely result in a test of stringent banking laws that penalises any disclosures no matter the motivation.

"I wouldn't make a big issue of this," said Latibeaudiere, pointing out that in his more than 10-year history as BoJ governor, there had never been a breach to now.

"I wouldn't want to draw too many lessons from one incident," he said.

But at the very least, some clients are now re-evaluating their relationships with their bankers, as one talk show host publicly declared on radio this week, suggesting that the trust already being tested by stringent reporting requirements on fat banking accounts to the regulator under anti-money laundering rules has eroded further.

A statement Wednesday by the Jamaica Banker's Association skirted the issue, neither mentioning the bank at the centre of the firestorm, FirstCaribbean International Bank (FCIB), nor the issue that sparked the confidentiality questions.

Yesterday, FCIB managing director Milton Brady did not return calls nor respond directly to queries of how the bank was weathering the controversy.

Said a woman who identified herself as his secretary Yvonne Piper: "We are not giving verbal releases at this time."

Piper said she would instruct the bank's PR agency to send copies of previous releases issued by the bank, telling the Financial Gleaner that nothing more would be added to the past statements.

Central banker Latibeaudiere said if there were to be an investigation of a breach, it would be done by the Financial Investigation Division, a unit of the Ministry of Finance.

"The BOJ's role is that of ensuring that the systems are in good shape, and, incidentally, our feel is that the systems are in good shape and have been in good shape," he said, staying on message throughtout the interview.

But on Thursday, FID said it was not investigating any case under the Banking Act, but would not comment on whether it was probing any other elements in relation to the FCIB account.

"The FID has no comment on any investigation," said Christine Chambers, technical director in charge of the unit.

In fact, stringent laws relating to certain reporting requirements by the banks makes it a criminal offence for anyone to disclose whether an investigation is pending or is underway, other than to persons authorised under the law.

Those fines can run to $2 million as well as imprisonment.

The Banking Act also prescribes imprisonment up to two years and a maximum fine of $2 million for confidentiality breaches, underscoring how seriously banking regulators view the issue.

But on Wednesday Latibeaudiere said one case did not amount to a system breakdown.

"É. people are very critical for the system but you cannot legislate behaviour," the BoJ governor told the Financial Gleaner after delivering the main address at a Life of Jamaica function in New Kingston.

The JBA's innocuous statement, crafted it seemed so as not to telegraph any concerns about the breach, was reflective of the subdued tones in which members of the financial sector spoke of the issue.

In fact, the development comes one decade behind the financial sector crash of 1996.

"There are people who, for personal reasons and what their heart is aligned to, will do things and you can't understand why," said a banking executive who spoke on condition of anonymity, given the sensitive nature of the breach.

But the Jamaica Manufacturers Association, led by president Doreen Frankson, was more bald in its condemnation of the disclosure of the transactions, which contravenes Section 45 (1) of the Banking Act, saying it has caused immeasurable damage to client-banker confidentiality and has implications for business confidence in financial institutions.

Saying it was "extremely concerned about the fact that banker customer confidentiality seems no longer sacrosanct", the JMA appeared to suggest that it was FCIB's duty to have ensured no breach occurred.

"The breach of banker client relations at FirstCaribbean International Bank brings into sharp focus the fiduciary responsibility of deposit-taking institutions," read its statement, which concluded that the issue was "a point the society cannot afford to equivocate."

Section 45 (1) of the Banking Act stipulates that "no official of any bank and no person who, by reason of his capacity or office has by any means access to the records of the bank, or any registers, correspondence or material with regard to the account of any customer of that bank shall, while his employment in or, as the case may be, his professional relationship with the bank continues or after the termination thereof, give, divulge or reveal any information regarding the money or other relevant particulars of the account of that customer."

Otherwise, the penalty as stipulated in subsection (3) is a fine and/or imprisonment.

"The breach of confidentiality in the banking system is not something that we can condone," said Latibeaudiere, "but I want to reiterate that system is, for the most part, in very good shape."

Added the JBA: "In the rare cases, in which a customer's right to confidentiality may be breached by an employee, this is regarded as a serious breach and will result in appropriate disciplinary action against that employee."

Brady also did not respond to a request for comment on the fate of the employee alleged to be at the centre of the leak.

Otherwise, industry players expect that the sector will soon shrug off the incident, even as the stock market has barely reacted to the controversy.

"I think it will pass because the organisation involved is up and about. I haven't heard of people withdrawing money from FirstCaribbean," said one banker.

A senior investment analyst says the issue is more likely to money launderers nervous.

"It [might] ferret out a number of businesses from the banking sector who are not legitimate and banks might lose the business," said the analyst. "But these businesses are those that, in the first place, banks could not count on as long-term prospects since these launderers rarely have their money in the system for more than six months."



[/ QUOTE ]

[Tuff Gong]

Re: PM admits she met wid Trafigura reps as a courtesy

[ QUOTE ]
[ QUOTE ]
It is a pity we the educated couldn't see the slippery slope in which the confidential information of many is now open season
That is how everything start in Jamaica,with one act that is accepted thopugh illegal,because of the result.
and all thes posters who have been bashing PJ Patterson for a statement 'et al' Of laws not to be a shackel. Prove with their reaction to this incident, that they believe that 'the law should not be a shackel' as long as the result of breaking it is justified. Pity they don't know how popular that belief is with criminals. They all justify breaking the law,as long as it justified their ends.
Not to say I believe that we have any such types on this board.
We certainly don't, but it is a pity again that people of such noble actions can err in their judgement,due to emotional instead of logical reaction.

[/ QUOTE ]


dc yuh a spin hard eh

[/ QUOTE ]

Lance Gibbs?

[RichD]

Re: PM admits she met wid Trafigura reps as a courtesy

[ QUOTE ]

Lance Gibbs?

[/ QUOTE ]

no man dat is convetional spin..dis is di Doosra

[evanovitch]

Re: PM admits she met wid Trafigura reps as a courtesy

[ QUOTE ]
It is a pity we the educated couldn't see the slippery slope in which the confidential information of many is now open season


. Pity they don't know how popular that belief is with criminals. They all justify breaking the law,as long as it justified their ends.


but it is a pity again that people of such noble actions can err in their judgement,due to emotional instead of logical reaction.

[/ QUOTE ]

read alll a dis and it spell the current leadership of the PNP and the Government....no true doc...dung to the 'noble' adjective as it should apply to the party that has long trumpeted its belief in and intent to doing right for the PEOPLE OF JAMAICA...an look weh it come to ...an in the midst of alll the proof the best u can get is one of dem saying bout wat amount a money can full up paper bag an wat is not enuff fi who tief [img]/forums/images/graemlins/rolleyes.gif[/img] [img]/forums/images/graemlins/70400-talktohand.gif[/img]

[Tuff Gong]

Re: PM admits she met wid Trafigura reps as a courtesy

[ QUOTE ]
[ QUOTE ]

Lance Gibbs?

[/ QUOTE ]

no man dat is convetional spin..dis is di Doosra

[/ QUOTE ]

I think his bowling mechanics should be reported to the ICC.

[RichD]

Re: PM admits she met wid Trafigura reps as a courtesy

[img]/forums/images/graemlins/704555_dwl.gif[/img] [img]/forums/images/graemlins/704555_dwl.gif[/img]

[Tuff Gong]

Re: PM admits she met wid Trafigura reps as a courtesy


<font color="blue">The scape-goat escapes</font>!


Fri Oct 13, 2006
First Caribbean denies responsibility for confidentiality breach

The RJR News centre understands that First Caribbean International Bank is confident that the breach which led to a leak of confidential banking documents did not occur at that institution.

It is understood that the probe carried out by the bank's internal systems as well as the Fraud Squad has failed to unearth any irregularity.

Highly placed sources in the Jamaica Labour Party (JLP) have declined to state whether it received the copies of the cheques from the bank.

They maintain that the documents came from an unexpected source.

This prompted the bank's move to douse growing speculation that it has been held responsible for the leaking of records on an account which received three lodgements from the Dutch oil firm Trafigura Beheer.

The bank's announcement came hours after the RJR News Centre reported that the worker who was sent on leave in connection with the alleged leak was back on the job.

In a statement issued late Thursday, First Caribbean said at this point it has not accepted any responsibility for the alleged breach of customer confidentiality.

According to Managing Director of First Caribbean, Milton Brady, the bank's probe has not been completed and it will not make any comment on the matter.

Mr. Brady said a comprehensive investigation is being carried out to establish whether any breach of the bank's confidentiality policies occurred and if any employee was involved.

He stressed that First Caribbean has not terminated the service of any employee with respect to the matter.

Mr. Brady said it was standard practice to request an employee to take administrative leave while an investigation was being conducted.

http://www.radiojamaica.com/news/story.php?category=2&amp;story=29104

[evanovitch]

Re: PM admits she met wid Trafigura reps as a courtesy

wonda if she a go sue fi defamation like how dem oddas did seh dem a sue

[Tuff Gong]

Re: PM admits she met wid Trafigura reps as a courtesy

[ QUOTE ]
wonda if she a go sue fi defamation like how dem oddas did seh dem a sue

[/ QUOTE ]

Labourites tend not to sue!

[Q3210]

Re: PM admits she met wid Trafigura reps as a courtesy

Week end de pon wi. What has our Most Honourable Prime Minister collected so far to make a statement on the Traffic Guru scenario?
Nutten? [img]/forums/images/graemlins/confused.gif[/img] [img]/forums/images/graemlins/70394-sleeping.gif[/img] [img]/forums/images/graemlins/70459-lyad.gif[/img]