GENE Dziadyk will not be called as a witness in the commission of enquiry into the collapse of CL Financial and the Hindu Credit Union (HCU), the Express has learnt.
This despite the fact that Dziadyk (pronounced zadic) has already provided "information voluntarily to the enquiry".
Dziadyk, a former consultant and director of CLICO, in an article published in yesterday's Express newspaper said he is willing to tell all about his seven year tenure at the collapsed insurance giant.
Dziadyk said after he was invited to join CLICO in 2001 as Chief Executive Officer (CEO) he sold all his assets in Canada and together with his wife handed over their life savings, reportedly over $35 million into the Executive Flexible Premium Account (EFPA).
After six months as CEO, Dziadyk was fired by executive chairman Lawrence Duprey but was retained as a consultant until 2008.
Dziadyk was fired by Duprey again in April 2008.
The Express learned that Dziadyk had provided information voluntarily to the enquiry.
A decision, however, has been taken to not to subpoena or make Dziadyk a witness.
"He (Dziadyk) put all his money into the EFPA but his real grouse is that he is being treated as a related party in relation to the bailout and therefore he cannot get back his money and that is why he is launching this kind of attack," a source said.
Being a former executive manager of CLICO, Dziadyk will not be able to get back his investment in accordance with the billion-dollar bailout of the company, the source said.
The stipulated timeframe for the delivery of witness statements was October 8.
None of the parties involved in the enquiry have named Dziadyk as a witness. The enquiry is scheduled to resume on December 3.
Sir Anthony Colman, the lone commissioner to the enquiry, can rule to have Dziadyk called as a witness.
"In my desperation as a principal casualty of the CLICO fiasco, I have made an absolute fool of myself writing documents nobody cares about because they paint a picture nobody wants to see or admit to," Dziadyk told the Express.
Last week Director of Public Prosecutions (DDP) Roger Gaspard announced that the police had launched a criminal investigation against former CLICO executives and several corporate entities aligned to the collapsed insurance giant.
The investigation which is being conducted by a special team of police officers, comprising members of the Anti-Corruption Investigations Bureau and the Fraud Squad began two weeks ago.
The Express has learned that the probe is being undertaken based on the content of a voluminous report submitted by the Central Bank to the Office of the DPP.
The Central Bank, using its regulatory powers under Section 44 D of the Central Bank Act, hired Canadian forensic investigator Robert Lindquist to assist in unravelling the web of transactions between directors of CL Financial group of companies which led to the collapse of the multi-billion dollar company.