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Monday, 25 February 2013 02:30
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By caribarena news
Antigua St. John's - Between December 1996 and January 2006, the former government of Antigua & Barbuda transferred US$35.5 M to bank accounts controlled by Bruce Rappaport.
Rappaport negotiated a debt settlement programme with IHI Japan, and used his own company, the IHI Debt Settlement Company, to make the payments to IHI Japan using the monies transferred to him by the government.
When the UPP was elected in 2004 and Prime Minister Baldwin Spencer arrived at the offices of the Ministry of Finance, he found the drawers and cabinets completely devoid of any files.
However, a few boxes of documents relating to the government loan with IHI Japan would later be found in the basement of the building. It is these files that would trigger the IHI criminal investigation.
The government hired Bob Lindquist, a renowned financial investigator, to conduct an investigation into the IHI matter.
Attorney General Justin Simon issued a statement on February 10, 2009 stating, “I now have in hand Mr. Lindquist’s… report… traces the payment by government from December 1996 of the monthly sum of US$403,334 out of the consumption tax revenue paid by West Indies Oil Company to the various people in receipt of these monies, with details of the companies through which the monies were sent, to what bank accounts, in which countries and how these monies were finally disbursed … the payments were to be made over a period of 25 years and would have amounted to US$121,000,200 … Mr. Rappaport, through his lawyers agreed to settle the claim…by paying to the government the sum of US$12,000,000 in respect of our civil claim. I am pleased to advise the government is in receipt of the payment”.
It has been four years since the attorney’s general’s announcement, and no progress has been made.
Meanwhile, information has been released from this report that shows misuse of funds in relation to the IHI fiasco.
Due to the complexity and size of the investigation, Caribarena will analyze and present the information in a series of articles.
Part one of this series will be published tomorrow.
21 Comments In This Article
distractions on the way
From the Sideline
WPP for IHI deal!!
If DR xx pushes IHI ,Gx will push WPP!!
Its strange that the two Middle men involved in both deals are cousins.
We know who Balwins blue eye boy ,down negate streets is!!!!
OH and the opposition blue eyes had one PM and is now trying to make another to save his skin!!!!!
Wadada
Justice
Justice
Antigua Bill & Beef
..
tenman
RE: IHI Introduction
This is a setup, Caribarena you are being duped by the UPP. Whoever 'leaked' the info to you is doing it to deflect attention from the CIP bill, the WPP abomination and the fencing scandal, and you have fallen for the bait. It doesn't matter what you print, not one damn think will happen, 'Birdism' triumph's again !!!
Fed Up
RE: IHI Introduction
Antigua Bill
RE: IHI Introduction
CIROC
@JF II
high jumpers," but we have "operative ninjas" that is 'trained' to not only "climb-walls-or -high-fence" but to "lie" when they get CAUGHT. Why left the doors to the
High Court "unlocked" if you know we have 'ninjas' running rampant? Where are the cameras to keep an eye on the doors, alley ways and even the roof? The GOAB sees a lot of missing documents when they came into office but will they do the same in correcting that "wrong?" I am of the view that all documents should be available whenever a new government takes power. Yet, they are a lot of officials that is afraid of 'jail' and will do and say anything to avoid it. Corruption is corruption but who gets lock up in this country is determined by how well they know the game! Bless.
Dig It
JUST SOME QUESTIONS?
BEEF
Report?
Threaten arrests and lock-up and court case just before the last two elections - you expect them to convince people now? I think it's too late! Sad to say, but justice was delayed and now it will be denied!
Good luck with this one Carib Arena!
The Fly
the good, the bad & the ugly
Jumbee Picknee
RE: IHI Introduction
makeo
RE: IHI Introduction
Resident
RE: IHI Introduction
BEEF
Is this a UPP Red Herring?
Dr. Dredd
RE: IHI Introduction
Second reason, the present guys in charge have done a deal with the previous guys in charge, it's a simple one, you scratch my back and i'll scratch yours. We'll forget about IHI and you forget about WPP, Fencing etc, that way we're all square and we can start again, well done Antigua.
Fed Up
RE: IHI Introduction
Auddie
IHI again?
Morris
RE: IHI Introduction
Antigua Bill
The Count Of Monte Cristo!
It is most interesting what can be learned when quietly lunching while Legal Beagles & Clients discuss Strategies. "Oh Aso Mi Oh My Mi no ear nutten!
By the way, did the CoP and AG find the missing files from the High Court Building after they found and corrected the Sewer fumes being wafted in the Facility through the VAC Duct System?
It seems that A&B has world class high jumpers? Are they being trained by the President of the A&B Olympic Association?
Has the $10,000.00 stolen from Government House by the Jumper of fences been returned to The Right Honourable Governor General?
Thanks CA.
John French II
JAIL THEM!!!
So those in the former Bird administration who negotiated and executed this Rappaport deal should have their day in Criminal Court and let the Chips fall where they may!
Youthful Labourite
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