A report in the Sunday Newsday newspaper states that Attorney General Anand Ramlogan has asked for an immediate investigation into an alleged US $6 million involving State-owned Urban Development Company of Trinidad and Tobago (UDeCOTT).The money was supposed to be transferred from a UDeCOTT account at the state-owned First Citizens Bank earlier this month.
However, the report states that the two senior UDeCOTT managers allegedly connected to the wire transfer documents claim that they know nothing about the transaction.
The paper says Attorney General Anand Ramlogan confirmed that he has submitted a request to the police an Anti-Corruption Investigation Bureau (ACIB) to investigate the attempted fraud.
Newsday says it has obtained a copy of the AG's letter to the ACIB, which it says, states:
“Your urgent attention is requested to investigate an attempted fraud which occurred between Thursday 2nd September 2010 and Monday 6th September 2010 concerning a wire transfer of funds from a Udecott account at First Citizens Bank, St Vincent Street, Port-of-Spain.
"The facts as known at this time are as follows:
(i) On Monday September 6 2010, First Citizens Bank (FCB) communicated with individuals at Udecott’s to confirm instructions for a wire transfer from Udecott to Putuo Ocean Fortune Limited in the amount of US$6,232,650.00...
(ii) Upon enquiry into the matter by persons in the Finance department of Udecott and the purported signatories on the alleged wire transfer document it was realised that no such document was prepared by Udecott staff acting in the discharge of their functions and moreover that the document was not signed by the two individuals who appeared as the signatories.
"The document which was presented to FCB by facsimile transmission only and since ordered to be cancelled was therefore a forgery;
(iii) On closer examination of the document Udecott personnel are of the view that the document was pasted together using components from copies of one or more genuine documents.
"The source document from which the signatures...were lifted/copied has been identified. This document was an August 26 2010 wire transfer request made to Citicorp Merchant Bank;
(iv) Other markings such as the fax validation details on the forged document also indicate that it was a forgery;
(v) The fact that the August 26 2010 document issued to Citicorp was used in the attempted fraud strongly indicates that Udecott personnel who may have had access to this document were involved.
"In addition a certain amount of knowledge of Udecott’s banking details must also have been known to the perpetrators. In addition the account on which the wire transfer request was made is the one account with available funds to make this transfer;
(vi) The named beneficiary is not known to Udecott and there are no pending invoices for the beneficiary.
"We enclose herewith the following documents for your perusal:
a. Faxed wire transfer request purportedly from Udecott to First Citizens Bank dated September 2 2010 marked “1”
b. Email from First Citizens Bank to Udecott dated September 6 2010 requesting confirmation of wire transfer request marked “2”
c. Wire transfer request from Udecott to Citicorp Merchant Bank dated August 26th 2010 bearing the signatures that were lifted marked “3”
"The relevant officers of Udecott are prepared to give a statement if so required.
"In the circumstances your assistance and co-operation to deal with this matter is requested.”
Newsday says the document is signed by Ramlogan.
Newsday said police sources have stated that on Monday September 6, a senior manager at UDeCOTT received a call from First Citizens Bank asking him if he was aware of a wire transfer of US$6,232,650 to Hong Kong and Shanghai Banking Corporation for the benefit of Putuo Ocean Fortune Limited which is located in Shanghai, China.
The manager reportedly told the bank that based on his own checks UDeCOTT did not have any financial or business dealing with this company and any wire transfer would be deemed illegal, Newsday said.
It added that the fraudulent document is now in the hands of the police, who have asked Interpol to assit in the invetigation.
Newsday said UDeCOTT chair, Jerlean John told its reporter that she doesn't know ,anything about the matter.
UDeCOTT is under currently under investigation. Five senior managers were recently suspended with full pay pending an investigation into the operations of the State company.
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