Take Kamla before privileges committee: Imbert

The Leader of Government Business in the Trinidad & Tobago House of Representatives wants to take opposition member Kamla Persad-Bissessar before the Privileges Committee for alleging that Finance Minister Karen Nunez-Tesheira had inside information on the CLICO situation.

Persad-Bissessar raised the issue earlier in the week in the debate on the financial amendments to allow government to provide assistance to CL subsidiaries. She also alleged that the governor of the central bank acted on 'insider information' and withdrew funds from CL Investment Bank.

The minister initially had nothing to say, consulted with the prime minister and attorney general and later categorically denied any wrongdoing.

She said she only officially learned about the bank's financial troubles on Jan. 14, 2009 and all her business transactions before that were above board. She admitted that like every other citizens she had heard rumours about problems at the bank, but there was no official word.

For his part, the governor had a similar explanation for pulling out his money in December 2008.

Then it seemed that there was a contradiction in what the finance minister was saying and what her cabinet colleague, Colm Imbert, reportedly told a parliamentary committee. According to a report in the Trinidad Express, Imbert told the committee that government knew of financial problems as far back as April 2008.

But Imbert told the media the report was fabricated and that he never said that. He explained that there were certain problems relating to how the business was operating in relation to the government's financial regulations and that was the point he was making. He called the newspaper report malicious and slanderous.

Persad-Bisserssar told reporters she is not afraid of the consequences, explaining that it was her duty to raise alarm bells about the matter.

"Let me make it very clear, I made my statement in the House, I asked my questions in the House. It is in the hands of the Speaker, but I want to make it very clear, I am not afraid and I am not worried as to what will transpire. As far as I see it, I did my duty as a representative of the people to raise a matter that was of concern to the people," she told reporters.

Referring to Nunez-Tesheira's explanation that she withdrew her money from CIB because her sister alerted her about financial difficulties there she said, "I am still not satisfied with that answer. That issue is not dead, it is not over."

In moving against the MP Imbert said, "The clear implication was that the Member of Parliament for Siparia was accusing the Minister of Finance of having committed the criminal offence of using insider information on the financial situation at CLICO for personal gain."

He called it "a clear breach of privilege since she produced no evidence to back up her allegations, despite the serious nature" although Persad-Bissessar attempted to clothe her accusations in the framework of a question.

"I submit, taken in its totality, a fair-minded observer, the man in the street as it were, would reasonably conclude that the Member for Parliament for Siparia had accused the Minister of Finance of having committed a criminal offence," Imbert told the Parliament.

House Speaker Barendra Sinanan promised to consider the motion and report to the House.