Ramkhelewan resigns as senator and chairman of TTSE

Subhas Ramkhelewan (Express photo)

Subhas Ramkhelawan resigned on Thursday as an Independent senator and also as chairman of the Trinidad and Tobago Stock Exchange (TTSE). But he is staying as managing director of his brokerage company, Bourse Securities.

 

The Securities and Exchange Commission (SEC) is investigating Ramkhelewan's company's in the purchase and sale of 656,688 FCB shares that were bought by the former chief risk officer of the bank, Philip Rahaman.  

Ramkhelewan denied media reports that he decided to quit his posts following a visit to his office by Attorney General Anand Ramlogan. "He hasn’t been to my office. We had no meeting at my office," Ramkhelawan said. He told reporters his resignations are not influenced by a decision by the AG to the Director of Public Prosecutions (DPP) and the acting Commissioner of Police.

 

Ramlogan told reporters at the post media news conference he referred the matter for the DPP and police cchief "to investigate this matter, with a view to laying charges against person or persons for breaches of the Securities Act or conspiracy to defraud”.
 

President Carmona issued a media release stating that he has accep­ted Ramkhelewan's voluntary resignation.

“His Excellency, in a letter dated April 10, 2014, to Mr Ramkhelawan, has expressed his deep appreciation to Mr Ramkhelawan for services rendered to the Parliament and, by extension, the people of the Republic of Trinidad and Tobago in his capacity as an Independent senator,” it stated.
 

Ramkhelawan said he quit his legislative position because he did not want the senate to become involved in any legal action that he might have to take on behalf of himself or his company. He stated that he remains optimistic that at the right time, he would be vindicated and could continue his work in the public service.