According to a Police statement, Mr. Finton De Bourg was arrested by members of the Financial Intelligence Unit and later slapped with two charges of fraudulent appropriation of more than EC$18 million and four counts of falsification of documents.
Police said the offences were allegedly committed between September 2004 and February 2008, shortly before the collapsed of Capital Bank International Ltd.
De Bourg was granted bail in the sum of $900,000 with three sureties and will appear in Court on May 25.
This is the second time De Bourg has been arrested by Police. He was arrested last May following several complaints made to the FIU by depositors of Capital Bank.
De Bourg, who was placed on EC$1 million bail, was charged for fraudulent breach of trust. H was accused of fraudulently converting, for his own use and purpose, more than 18 million dollars.
Only recently the Trinidad Express newspaper reported that CLICO Investment Bank, a subsidiary of CL-Financial Ltd of
The paper further stated that CIB also issued a loan of US$10 million to the bank’s chairman and managing director, Finton De Bourg, to build a boutique-style hotel called Native Hut.
1 comment:
Mike - I wished I knew this blogger's paradise. As you can imagine I am so darn busy it's hard to keep up with all sources. I can tell you based on the high esteem I hold you in I shall always be at your blogger
s page. Thanks for the story on De Bourg - that scamp!
Ed
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