CL could face criminal charges: CB governor

The governor of the Trinidad and Tobago central bank said Thursday the findings of a forensic audit of CL Financial could lead to civil and criminal charges against the conglomerate.

The audit is being conducted by Canadian accounting investigator Robert Lindquist, who took over the investigation earlier this year from the firm of KPMG.

Ewart Williams told the Trinidad Express legal action could be taken against CL Financial by early next year if evidence of malfeasance is uncovered.

However he said it would be up to the Director of Public Prosecutions to decide if criminal charges will be filed.CL Financial companies CLICO, CLICO Investment Bank and British American Insurance have been given a $5.4 billion bailout package from the government.

So far it has used $1.9 billion of the money.