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     A BREAKDOWN OF THE $408 MILLION FEES

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    Honeylu
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    Honeylu


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    A BREAKDOWN OF THE $408 MILLION FEES Empty
    PostSubject: A BREAKDOWN OF THE $408 MILLION FEES   A BREAKDOWN OF THE $408 MILLION FEES I_icon_minitimeMon Apr 13, 2015 7:26 pm



    $95 million; Forensic audits and probes
    $80.7 Inherited legal fees from the PNM administration
    $ 67.4 million. Fees paid for the DPP’s Office
    --
    If one were to subtract this total of $243.1 million from the $408.2 million, the balance is $165.1 million, and spread over 4 ½ years it represents approximately $36.7 million per annum, which is in line and in some cases less than previous administrations spent on legal fees.
    --
    Preliminary checks at the Ministry indicate that legal fees paid by the Ministry during the period 2002 to 2010 amounted to $372,000,000. This represents an average of $41 million per year.
    --
    The Ministry, in accordance with the directive of Cabinet, retained lawyers and other non-legal professionals, such as accountants, to conducted sixteen forensic probes. Probes were conducted for:
    TTEC Street Lighting Implementation Unit;

    eTeck (6 separate investigations: Medical Transcription Services and Training Project;

    UniBio A/S Protein Production Plant in TT Project; Tamana Intech Park;

    Alutech Research and Development Facility; Bamboo Networks Limited; and Reynald Associates Limited (RAL) Consortia);

    PETROTRIN (3 separate investigations: World GTL Ltd; Ultra Low Sulphur Diesel Project; and Gasoline Optimisation Programme);

    Estate Management Business Development Company;

    Sports Company of Trinidad and Tobago;

    University of Trinidad and Tobago;

    UDeCOTT (Brian Lara Cricket Academy);

    Scarborough General Hospital;

    The purchase of the ill-fated MV Su.

    As a result of these probes, the Attorney General has commenced numerous unprecedented cases for civil fraud, negligence and breach of fiduciary duties against top officials to recover over $2 billion in compensation.
    --
    The AG has recovered $300 Million from Hyatt Arbitration
    $1.4 Billion from the OPV arbitration
    And Won the $2.7 billion WGTL arbitration

    One can simply say with the $165 Million spent in 41/2 years it returned over $4 Billion to the coffers of the country.
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