Sat Maharaj calls for freeze of Harnarine's assets

The man who was one of the most vocal critics of the Hindu Credit Union (HCU) and its President, Harry Harinarine, is now urging the government to seize Harinarine's assets.

The call comes from Sat maharaj. Secretary general of the Sanatan Dharma Maha Sabha (SDMS) who says this should be done as a precaution the HCU assets are being liquidated.

"The Government should freeze all Harnarine’s assets until this thing blows over. I also feel that the authorities should correspond with the Attorney General of Florida to unearth information about Harnarine’s properties in the USA," Maharaj told the Sunday Guardian.

Harinarine has acknowledged that he owns properties and is a joint owner of at least one business in Florida in addition to properties and business in Trinidad.

The Maha Sabha, the country's largest Hindu organization, has been engaged in an open feud with the HCU since 2002 when it called for a forensic audit and urged the Hindu community to invest elsewhere. And the SDMS has used its radio station - Radio Jaagriti - to launch a constant attack on the HCU and its president.

Harinarine blames the SDMS for some of its troubles, saying its constant attack caused a run on the institution.

The SDMS complained earlier this month of receiving death threats against Maharaj and the Radio Jaagriti's CEO, Devant Maharaj, and its staff. It said it knew where the threats were coming from but didn't name any one or any organization.

The SDMS chief claimed that there was a million-dollar hit that had been put out on him and the staff at the radio station.

In reporting the matter to the police commissioner Maharaj claimed that he had "reliable" and "credible" information that the threat stemmed from the fact they (Radio Jaagriti) were exposing the operations of a certain institution.

"They want to silence us because we have been speaking out for the last five weeks... keeping this matter on the front burner."

The Maha Sabha advised that all distressed depositors and shareholders of the HCU seek immediate legal advice from an attorney of their choice and send, in writing, a claim to the Commissioner of Co-operatives or R.D. Rampersad and Company to possibly secure if not all, at least some portion of their funds.

"So far, the Government is not advising HCU members what they should do. People who were given loans don’t know if they will lose their properties in the morning. Some measure of comfort should be given to members," Maharaj said.

Maharaj noted that many former Caroni workers invested their entire VSEP money in the HCU and now stand to lose everything.

About 190,000 members of the HCU are wondering what will happen to their investments and how to recover deposits now that the organization is in receivership.

The credit union has $776 million in liabilities and assets to be liquidated. People who have money in the HCU are not getting any comfort from the organization.

Harnarine blames Finance Minister Karen Nunez-Tesheira for some of the troubles, saying she had promised to inject $42m into the HCU to help repair loss of public confidence caused by the constant barrage from critics like the SDMS.

He said the Minister of Public Administration had agreed to buy HCU’s property to the tune of $250 to $300 million.

The Sunday Guardian says it has been "reliably informed" that Harnarine sent a letter to Manning on Thursday, outlining its grave situation and requesting his urgent intervention.

HCU’s attorney Odai Ramischand said the organization plans to take legal action against the liquidator, who took the decision to fire several workers and close the doors of HCU’s subsidiaries, which was against the court order.