TTFF must probe those missing millions
It is with dismay I have read of the dire plight of the TTFF (Trinidad and Tobago Football Federation), in debt to the tune of $25 million, with little prospect of fulfilling its financial obligations. (Sunday Express, September 1, 2013). I here suggest the TTFF declare itself bankrupt. Under the provisions of the Bankruptcy and Insolvency Act 2006, a licensed insolvency trustee will be appointed to meticulously examine the utterly blatant misappropriation of tens of millions of TTFF funds as revealed by Sunday Express investigative reporter Camini Marajh.
I quote from Part I, published on April 14, 2013:
“Sunday Express investigations show that the former Special Adviser to the TTFF transferred out tens of millions of dollars from the national football association’s accounts to a local organising company, LOC Germany 2006 Ltd, which was set up by his personal accountant, Kenny Rampersad. Jack Warner was both a director and chairman of LOC Germany 2006 Ltd. Financial records show at least $100 million in public and private sector funds have gone missing. Tens of millions of dollars in World Cup funds were being tapped from TTFF’s bank accounts by the Warner-run LOC Germany entity, and by private corporations owned by him.”
I quote from Part II, published on April 15, 2013:
“In the three-year period under review, 2005-2007, LOC Germany 2006 Ltd diverted to itself over $32 million in grants and sponsorship money paid into two TTFF accounts held with Republic Bank. JAW Ltd, a Warner company, redirected to itself more than $13 million in public and private sector money held at the Republic Bank West Mall and Long Circular branches. Financial records, TTFF bank statements and other documents in the possession of this newspaper show about $3 million in grant money to the national football federation being moved to Jamad Ltd, another private Warner entity. The documents show about $9 million was re-routed from the two Republic Bank accounts to Warner himself.”
To date, Jack Warner has not sued the Trinidad Express Newspapers Ltd for libel. Neither had he issued any statement vehemently denying the incredible revelation that over $100 million of public and private sector funds raised in support of the 2006 World Cup campaign cannot be accounted for. According to the Soca Warriors, it is more than $150 million in funds that have gone missing.
I quote from the Sunday Guardian of March 25, 2012, in a full-page ad
addressed to the Prime Minister.
“Despite substantial evidence gathered by the players relating to the amount of funds collected by the TTFF, Oliver Camps, and the LOC Germany 2006 Ltd, a sum in excess of $150 million is still unaccounted for. This includes something in the region of $80 million of taxpayers’ dollars awarded by the government.”
I urge TTFF president Raymond Tim Kee to act in the name of decency, honesty and integrity.