Documents from CLICO Investment Bank (CIB) show that Finance Minister Karen Nunez-Tesheira closed two US dollar accounts with the bank on December 31, 2008, before they were scheduled to mature later this year.
CIB is one of four CL Financial businesses that benefited from a multi-billion-dollar taxpayer bailout approved by the Cabinet last month.Nunez-Tesheira told Parliament on February 2 that she took the money out of a CIB account that had matured. However the docments show that Nunez-Tesheira paid a 3.5 per cent penalty for closing two accounts at CIB worth a total of US$48,549.91.
They were due to mature on April 30, 2009 and August 13, 2009 respectively. She closed one account at US$37,549.45 and the other at US$11,076.34, including interest. Persad-Bissessar suggested that the minister had access to privileged information about CIB, which led to her making withdrawals from her accounts with the bank and Caribbean Money Market Brokers (CMMB), another CL subsidiary, late last year.
http://jyoticommunication.blogspot.com/2009/03/t-parliament-to-debate-no-confidence-in.html Here is what the official Hansard records the minister as saying regarding a CIB account:
"On December 31, I withdrew an account which had matured on December 31, 2008. You go and check it because when you were making your accusations, I wanted to ensure that I was accurate on the information, and I called to get all the information that I had on every withdrawal I made in relation to those two institutions."
Nunez Teshiera claimed that she did not realise that she was breaking the despoits although she signed for the transactions. She said she was not informed by anyone at CIB that she was, in fact, breaking the accounts.
"The request was first made verbally. In that initial discussion, no one said to me that what I was doing I was breaking an account," Nunez-Tesheira told the media.