Trinidad and Tobago Newsday Mystery surrounds the investment in two insurance policies valued in excess of $54 million in 2007 and 2008 in the name of Indian national Uthara Rao, former chairman and chief executive officer (CEO) of the Estate Management and Business Development Company Limited (EMBD), with Colonial Life Insurance Company (Clico). The policies were paid for by the EMBD.
Four members of the EMBD board of directors, including chairman Kristendath Ramkissoon, and five management staff, among them acting chief executive officer Keith Gray, were unable to explain to the Public Accounts (Enterprises) Committee (PAEC) yesterday why the company took out the policies in Rao’s name and who sanctioned the investments.
Four members of the EMBD board of directors, including chairman Kristendath Ramkissoon, and five management staff, among them acting chief executive officer Keith Gray, were unable to explain to the Public Accounts (Enterprises) Committee (PAEC) yesterday why the company took out the policies in Rao’s name and who sanctioned the investments.
Comments
Post a Comment