…investigations will be done – JagdeoHead of State Bharrat Jagdeo said that when the breaches as it relates to Colonial Life Insurance Company (CLICO) Guyana were initially identified by the then Commissioner of Insurance Maria Van Beek ,Cheap Authentic NFL Jerseys,drastic action could not have been taken, at the time.Jagdeo was at the time speaking to affected policy holders at the National Cultural Centre yesterday where he explained that had drastic action be taken then, the company would have had to be closed down immediately.? He explained that when the breaches were recognized the company was written to as it relates to the illegal investment of its money in CLICO (Bahamas), but did concede that regulation across the world,Cheap NFL Jerseys China, inclusive of Guyana, has not evolve to keep up to pace with the manner in which companies have transformed their transactions.He suggested that persons may ask why the relevant authorities did not take drastic action after seeing that the company was not complying with the law,Cheap Jerseys China, but Jagdeo opined that it could have possibly led to the closure of the company.As it relates to investigations,Wholesale NFL Jerseys China, he is willing to have both CLICO (Guyana) and Globe Trust thoroughly investigated,Cheap Authentic Jerseys, but this will be done parallel to the payout to policy holders. He suggested that investigations could possibly take years,Wholesale Authentic Jerseys, but he is more interested in having the affected persons paid.“I agree that we need to find out what took place.”Jagdeo said that if during an investigation people are found to be culpable then action should be taken, “I’m prepared to do that.”This promise was met with a resounding applause by the policy holders and stakeholders present at the National Cultural Centre.“This will go on, but separately we have to move on with getting money back to people.”There have been several calls for investigations as to what transpired at CLICO (Guyana) as well as calls for charges to be laid. Leader of the Alliance For Change, Raphael Trotman, as it relates to the illegal transactions that were made, said that charges must be laid and those culpable be prosecuted.This he said must be done so that the government can be able to exonerate itself from any wrongdoing.He said that the transactions are nothing short of misappropriation of people’s money.

By Gary EleazarPresident Bharrat Jagdeo has acknowledged that there was corruption at the Office of the President and several persons had to be fired.He was responding to questioning during a press briefing yesterday at State House.Commenting on the missing financial records for the Wild Life bank account for the period 1998 to 2002, which was at the time operated under the auspices of OP, President Jagdeo said that he was not au fait with all of the details of the missing records, but he noted that in one instance people were caught taking money and giving permits for the export of animals,Cheap NFL Jerseys Store,. “way beyond what our quota allowed.”He added that the money,Cheap NFL Jerseys China, some $100 million, was then placed in a non-interest bank account at the Bank of Baroda.However, the Treasury Memorandum that was recently tabled in the National Assembly clearly states that the records in relation to the period July 1998 to June 2002, four years, cannot be located,Cheap NFL Jerseys Store, and all attempts to have them reconstructed have been futile.The “treasury memorandum” is a written response to the inconsistencies raised by the Public Accounts Committee for the period 2002 and 2003.Following the discovery of the missing files, the Alliance For Change Chairman,Adidas Hockey Jerseys Cheap, Khemraj Ramjattan, had called for the implementation of a fraud investigation into the incident, and persons found culpable to feel the full brunt of the law.Chairman of the Vision Guyana, Peter Ramsaroop, as well as The People’s National Congress Reform, had echoed similar sentiments.The disappearance of several hundred millions of dollars earned from the export of wildlife is reminiscent of the dolphin scandal that came to light in 2004.In that year,NFL Jerseys Wholesale, the Board of the Wildlife Management Authority fired its secretary, Khelawan,Discount NFL Jerseys, for authorizing exports of dolphins without proper permits.Also implicated in the scandal was Presidential Advisor Odinga Lumumba, who also owns Mc Neal Enterprises, the company that shipped the dolphins without permits.It was later learnt that 38 giant anteaters had also been shipped without proper permits. These animals sell for upwards of US$10,000 each.The Opposition PNCR referred to the situation as a scam, and said it would not be fooled by the firing of sacrificial scapegoats.