Former Finance Minister KAren Nunez-Tesheira said Thursday former PNM treasurer Andre Monteil was “seeing about himself” during the negotiations on behalf of CL Financial (CLF) in January 2009 for help from the Manning PNM administration.
Nunez-Tesheira suggested that the State was forced into entering into the January 30, 2009, Memorandum of Understanding (MOU) with CLF, because Cl;ico was "pointing a virtual gun" at its head.
CLF's former executive chairman Lawrence Duprey hired Monteil’s company, Stone Street Capital to negotiate the deal with the government.
Sheb said after the deal was finalised Monteil threatened to sue when she refused to allow him to withdraw “millions” from Clico Investment Bank (CIB).
Nunez-Tesheira suggested that the State was forced into entering into the January 30, 2009, Memorandum of Understanding (MOU) with CLF, because Cl;ico was "pointing a virtual gun" at its head.
CLF's former executive chairman Lawrence Duprey hired Monteil’s company, Stone Street Capital to negotiate the deal with the government.
Nunez-Tesheira said, “Mr Monteil had one aim in mind.” He only proposed one asset sale, which was in relation to a deal involving Republic Bank shares.
The former minister said it was not possible to do the deal because the shares involved appeared to be encumbered. Nunez-Tesheira said she found out later that if Monteil pushed through the deal he would get a million-dollar commission.
Sheb said after the deal was finalised Monteil threatened to sue when she refused to allow him to withdraw “millions” from Clico Investment Bank (CIB).
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