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AG: We'll spare no expense

Attorney General Anand Ramlogan yesterday said the People's Partnership Government welcomes the criminal investigation into the collapse of the CLICO Financial Fund, CLICO and other related companies.

He was responding to a statement from the Office of the Director of Public Prosecutions (DPP) on Thursday evening that the police have begun a full criminal investigation into the conduct of CLICO executives and other corporate entities linked to the collapsed financial institution.

Ramlogan said the CLICO fall "was quite possibly the biggest financial collapse of a financial institution in the country", adding that CLICO was a financial empire that dominated the social economic environment and had tentacles in almost every sector of the economy.

As to the DPP's warning to the media that it should desist from publishing or broadcasting anything that might prejudice, hinder or jeopardise the criminal investigation, even as the commission of enquiry into CLICO continues, Ramlogan said he has "no doubt that the DPP and the commissioner will offer guidance on those matters".

As it relates to the cost of the investigation, Ramlogan assured the Government would spare no costs in this regard and would leave no stone unturned in the journey for justice.

"The Government is committed to the pursuit of justice on behalf of the people of both the Clico and the HCU (Hindu Credit Union) matters, and is therefore committed to providing the necessary resources to the Police Service and the DPP to facilitate this investigation," he said.

He added, "In the meantime, where appropriate, the civil negligence and fraud cases shall continue." Ramlogan reminded that the State has already "sued former CLICO executive chairman Lawrence Duprey and Andre Monteil via the Central Bank".

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