Duprey bagged TT$1.1b before bailout
By Stories by Joel Julien joel.julien@trinidadexpress.com
Story Updated: Sep 23, 2011 at 12:48 AM ECT
LAWRENCE DUPREY was paid $1.1 billion from the deposits of CLICO policyholders in the five years prior to CL Financial seeking a billion dollar bailout from the Government.
This was the claim made by Neal Bisnath, the attorney from CLICO, as he sought to tie up a couple of “loose ends” at the Commission of Enquiry into the collapse of CL Financial and the Hindu Credit Union (HCU) at the Winsure Building, Richmond Street, Port of Spain, yesterday.
On Wednesday, Bisnath said Duprey, former executive chairman of CL Financial, was paid a monthly income of $5 million by subsidiary CLICO.
In addition to his yearly income, Duprey was also paid multi-million-dollar consultancy fees throughout the year, Bisnath said. In 2007 Duprey was paid $90 million, Bisnath said then. Continue reading
