Friday, February 23, 2018

CLICO policyholders:Let Dziadyk testify


'INSIDER': Gene Dziadyk

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Former consultant and director of Colonial Life Insurance Ltd (CLICO) Gene Dziadyk should be allowed to give evidence before the Commission of Enquiry into the collapse of CL Financial, according to the Clico Policyholders Group (CPG).

Last week the Express exclusively reported that Dziadyk (pronounced zadic) was facing eviction from his home in Mississauga, Ontario, Canada and was willing to tell all to the police, in the wake of a criminal investigation into key executives of the former insurance giant.

Yesterday, the CPG noted the Express report and a subsequent article which stated that Dziadyk will not be called as a witness in the enquiry.

The CPG stated that Dziadyk would "have some serious questions of his own to answer should he be allowed to give evidence".

"Not the least of which is: if Mr Dziadyk joined CLICO in 2001 as CEO, was fired after six months and was subsequently retained as a consultant up until April 2008, why did he stay on so long at the troubled insurer after his first firing, particularly since, based on his own admission, no one listened to his advice?" questioned the CPG.

The CPG stated further that Dziadyk's willingness to tell all was a tacit admission "that he was aware of wrong-doing that was taking place at CLICO up to that time that he was there but appears to have done nothing about it".

"It therefore seems to the CPG that unless he can prove he took reasonable steps to report same to the relevant authorities, he could be deemed complicit," stated the CPG.

"Moreover, we are persuaded that it would be a greater travesty if Mr Dziadyk is not afforded an opportunity to tell his story to the Commission having been an insider for so many years," stated the CPG.

"In fact, we believe he should be given an opportunity like everyone else to submit a witness statement replete with exhibits (in the event that he has not done so already) which would, in turn, allow Sir Anthony Colman sufficient time to review the document, carefully taking in to account its probative versus prejudicial value and take appropriate action if necessary," the group added.

The CPG stated that it will be guided by the ruling of Colman.