Finance Minister Karen Nunez-Tesheira finally replied to accusations of insider trading in the CL affair levelled against her by opposition MP Kamla Persad-Bissessar. The minister told Parliament Tuesday night the opposition is on a 'witch hunt' and she was adamant that she did nothing wrong and did not benefit from any privileged information.Nunez-Tesheira denied withdrawing money from CLICO Investment Bank (CIB) after receiving information that it was in financial trouble.
She admitted making a withdrawal from her CIB account last December 31, explaining that the deposit had reached maturity. But she insisted that she was not acting on any privileged information.
"When I did that transaction, I knew nothing formally or informally as Minister of Finance of and as far as I am aware the Central Bank Governor has said he was only apprised of it on January 13," she said.
She said everybody knew all was not well at CIB and that she acted on information that was in the public domain. "I, like the rest of Trinidad and Tobago, had heard that CIB had difficulties," she said.
"When I was apprised of this information in my capacity as Minister of Finance, I certainly said nothing to anyone, including any of my Cabinet colleagues, except the Prime Minister.” Nunez-Tesheira said.
She revealed that she made two investments late last year to buy an apartment and a car. The withdrawals, she said, were on Sept. 17, Dec. 3 and Dec. 17, to pay for the apartment. "If there is a law against me doing that and making a purchase, you have to tell me," she declared. She also withdrew money on Aug. 20, to buy a car for her daughter.
The minister told the House she had accounts at several financial institutions, including CIB, and "as far as I am aware, I am free to make withdrawals from those accounts to make purchases, and that was exactly what I did." She added, "They are free to check it. See the date. See what I bought. See how much I paid. I don’t have anything to hide. Nothing to hide."
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