An attorney representing the CLICO policyholders group told the Clico/HCU enquiry Tuesday there is a need for a thorough investigation into the billion-dollar purchase of property in Florida, USA, by British American Insurance Company (Trinidad) Ltd (BAT).
Lynette Seebaran-Suite said the US$295 million deal wo buy 6,000 acres of land in what is referred to as the Green Island transaction was the largest investment done by BAT.
And she noted the the money for the deal came belonged to Clico's Executive Flexible Premium Annuity policyholders.
Seebaran-Suite read the transcript from an interview with former BAT chairman Brian Branker, in which he said there was some financial discrepancy with the Green Island Fund Transaction.
A lawyer for former CL Executive Chairman Lawrence Duprey objected to the reading of the transcript, which he called "gossip and water cooler chat".
Seebaran-Suite also read the transcript of former group financial director of CL Financial Michael Carballo in which he said he spoke with Charles Pratt, the manager of Green Island Holdings who admitted making an exorbitant profit from the sale of the Florida property.
Lynette Seebaran-Suite said the US$295 million deal wo buy 6,000 acres of land in what is referred to as the Green Island transaction was the largest investment done by BAT.
And she noted the the money for the deal came belonged to Clico's Executive Flexible Premium Annuity policyholders.
Seebaran-Suite read the transcript from an interview with former BAT chairman Brian Branker, in which he said there was some financial discrepancy with the Green Island Fund Transaction.
A lawyer for former CL Executive Chairman Lawrence Duprey objected to the reading of the transcript, which he called "gossip and water cooler chat".
Seebaran-Suite also read the transcript of former group financial director of CL Financial Michael Carballo in which he said he spoke with Charles Pratt, the manager of Green Island Holdings who admitted making an exorbitant profit from the sale of the Florida property.
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