Home' Trinidad and Tobago Guardian : December 19th 2014 Contents Minimum wage still to be reviewed --- McLeod News --- Page A6
FRIDAY, DECEMBER 19, 2014 www.guardian.co.tt Guardian
for 18TH DECEMBER, 2014
Tobago police yesterday detained a 29-year-
old Lambeau man in connection with the rob-
bery and murder of 64-year-old credit union
courier Slyvert Edwards and are looking for a
The T&T Guardian understands the suspect is
an employee of the Tobago House of Assembly's
Infrastructure and Public Utilities' Development
Police said he was arrested at his home during
a sting operation on Wednesday after they received
information and he was co-operating with them.
Police said they expected to arrest the second
Edwards was ambushed and killed around 11.30
am on Wednesday during a daylight robbery at
the THAWE Credit Union, which is located on
the Division of Infrastructure and Public Utilities'
compound at Shaw Park, Scarborough.
He was shot in the right hip while seated in
his Hyundai Tucson vehicle but police believe he
may have died from a heart attack. He was deliv-
ering a $100,000 payroll for members of the
Up to yesterday, several people attached to the
credit union were being questioned, including
five employees who were on duty at the time of
the incident. However, police were tight-lipped
on whether the robbery was an inside job. The
credit union remained closed yesterday and there
is no date set for its reopening.
Despite concerns about poor security measures
on the compound and at the credit union, the
T&T Guardian was reliably informed a hidden
CCTV camera would have captured the attack.
Edwards' autopsy is scheduled for today.
The Tobago Homicide Bureau is continuing
investigations. Anyone with information is asked
to contact 708-9142 or 708-9320.
Meanwhile, THA Chief Secretary Orville London
yesterday condemned the attack.
He said: "Whatever the reason, one has got to
understand that we do have homegrown criminals
on the island and we have to treat with that.
"We in Tobago have got to send a strong signal
that this is not an environment in which criminals
can feel secure and safe, nor should Tobago be
seen as a soft target and that is one of the reasons
why I want to reiterate that we must take control
of our environment and ensure that we are much
more careful about the way we do business."
He said whenever incidents like those occurred
all of Tobago was traumatised and they brought
a startling realisation that crime was real in Tobago
and must be treated with. He also urged Tobag-
onians to be vigilant at all times, especially during
the festive season
"This is not a reason for us to panic but it is
definitely a reason for all of us to become much
more aware of our environment," he added.
Suspect held in
Finance Minister Larry
Howai said yesterday that he
has "never indulged, and never
will engage in any form of inap-
or illegal conduct at any stage
of my professional life."
In his first substantive
response to allegations that have
been in the public domain since
Wednesday when he was named
on a national radio station, Howai
said: "It is extremely irregular
and questionable that a confi-
dential report on an issue that
arose and was properly adjudged
to have been a non-matter 10
years ago, would be resurrected
in the public domain for what
can only be deemed as purposes
of mischief and even malice."
In a statement, Howai said he
has asked his attorneys "to
examine all aspects of this matter
to address clearly what appears
to be an injustice to my character
and professional persona.
The allegations involve the role
played by executives of institu-
tional investors in Trinidad
Cement Ltd (TCL) in 2002, when
the Claxton Bay-based cement
producer was the subject of an
ultimately unsuccessful takeover
bid by Mexican cement giant
The T&T Securities and
Exchange Commission (SEC), in
March 2007, sought an opinion
of an eminent Barbadian Queen's
Counsel, who was asked to assess
the strength of the cases against
four of the executives who were
suspected of illegal insider trading
in shares of TCL during the first
half of 2002.
It is alleged that the four exec-
utives purchased TCL shares
after they were made aware of
price sensitive information con-
cerning the Cemex bid for TCL.
The Market Regulation and
Surveillance division of the SEC
conducted an investigation and
submitted a report on the sus-
pected cases of insider trading
in TCL shares in December
That report identified certain
executives whom the staff sus-
pected of insider trading and rec-
ommended that the SEC launch
a formal investigation into the
trading of TCL shares in the rel-
evant blackout periods, which is
a period when a public compa-
ny's directors, officers and spec-
ified employees or investors can-
not trade the company's stock.
The blackout periods for the
Cemex bid to takeover TCL were
January 21 to February 5, 2002
and May 6 to June 24, 2002.
The opinion by the QC refers
to an earlier investigation, which
described Cemex's actions of
discussing the proposed takeover
bid with certain shareholders in
advance as "constituting selective
disclosure, undesirable activity,
contemptible and a violation of
fairness and equity."
Howai queries leak of old SEC report
Toolsie Ramjit and his
son, Satish, remove
burnt sheets of
galvanize from the
ruins of their home at
after it was destroyed
by fire following a
Christmas days away,
the family of five is
now appealing to the
public for help.
SEE PAGE A7
In a public notice on
November 20, 2008, the then
chairman and CEO of the T&T
Securities and Exchange
Commission, Osborne Nurse,
stated that "while our
investigation found considerable
evidence of unacceptable market
conduct, the evidence was
insufficient to meet the
requirement of the law to prove
intent, or to overcome defences
provided in the law."
Contacted last night, the
current chairman of the SEC,
Patrick Watson, said: "We are
not involved in any investigation
of any matter concerning the
trading of TCL shares in 2002.
"Mr Nurse made a statement
on this issue in 2008."
Sources told the T&T Guardian
that the QC's opinion was leaked
by a disgruntled former TCL
employee who had shopped the
document to several media
houses for some weeks.
In his statement yesterday,
Howai added: "Up to this time, I
have neither seen the report
referred to in the media nor have
I been given an opportunity to
address the allegations said to
be contained therein. To have
such spurious assertions
circulated in this manner is
certainly a breach of natural
Prime Minister Kamla
said she had spoken to Finance
Minister Larry Howai on the
SEC probe matter and was
satisfied with the response he
"Mr Howai has given us an
explanation on the matter," she
told the media during a cheque
distribution ceremony for
churches at the Diplomatic
Centre, St Ann's. (See page A6)
"I am not concerned given his
explanation, that is why I
suggest you get it from the
horse's mouth. I have read the
media reports on the matter
and I suggest you get a
statement from him."
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