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Former Member

Govt. launches probe into ExxonMobil’s US$18M signing bonus

– Says charges to follow soon against ex-Finance Minister

Oct 15, 2021 News, Source - https://www.kaieteurnewsonline...us18m-signing-bonus/

[[[Quote]]]

It was only after intense pressure from the media, that the Coalition Government headed by former President Granger revealed that it had, indeed, received the signing bonus from ExxonMobil at the time of inking the 2016 Stabroek Block Production Sharing Agreement (PSA).
Before that there was silence.

[[[Unquote]]]

Kaieteur News – Attorney General and Minister of Legal Affairs, Anil Nandlall, disclosed yesterday that an investigation will be launched into the controversial US$18M signing bonus that the previous Coalition administration received from ExxonMobil back in 2016 and placed into a special account at the Bank of Guyana.

Attorney General and Minister of Legal Affairs, Anil Nandlall

Former Minister of Finance, Winston Jordan.

In a video posted on one of the social media pages of the People’s Progressive Party/ Civic Government, Nandlall noted that the role of the former Finance Minister, Winston Jordan, would be examined, since he had denied that the Coalition ever received the money. It was only after same was exposed in the media that the former Minister eventually admitted to its receipt and existence. Nandlall disclosed that the files regarding the case will be handed over to the Guyana Police Force with charges against Jordan likely to follow soon.

Following this announcement by the Legal Affairs Minister, Jordan issued a statement to the effect that any insinuation that he was involved in any nefarious transaction concerning the signing bonus is utterly untrue.
The former Finance Minister said, “These allegations are false, baseless and repugnant. As on a previous occasion, circa November 2020, I say without fear that they are designed to impugn my character, tarnish my image and lower my esteem in the eyes of my family, friends, admirers, well-wishers and the general public. Moreover, they are intended to intimidate me, in light of my scathing criticism of the government’s approach to development of my beloved country. I cannot and will not be intimidated.”

Jordan categorically stated that during his time as Finance Minister, he performed his duties in compliance with the oath of his office and to the best of his abilities. “This I have done in my over 35 years of public service, in various capacities. I have consulted with my lawyers on this latest attempt to malign me in public, and we have agreed on a certain course of action. Aluta continua!” concluded the economist in his statement to the media.In December 2020, Kaieteur News reported that every cent of the US$18M signing bonus Guyana received when it penned the 2016 agreement with petro giant, ExxonMobil, was spent by the A Partnership For National Unity+ Alliance For Change (APNU+AFC) regime.The Auditor General (AG), Deodat Sharma, made this disclosure in his 2019 report. In that document, he stated that the US$18M Guyana received was deposited into the Finance Ministry’s ExxonMobil Account №. 845L5086, at the Bank of Guyana.

The Bank, he explained, maintained a “Cash and Investment Accounts,” to independently account for earnings accumulated from investments.

The report outlined that during November 9-17, 2016, the sum of US$15.831 million was transferred to that very account and later expended to purchase overseas bonds.

The balance of US$2.176 million or G$449 million remained in the country’s Investment Account.

Later on, the report said, Guyana earned interest of US$498,775 from its investments between November 9, 2016 to December 31, 2018, while the interest from the Investment Account totaled US$2,889.

On December 28, 2018, the Finance Ministry was said to have instructed the Bank to transfer US$3.780 million from the Investment Account to Guyana’s Consolidated Fund. This was done on December 31, 2018, leaving a balance of US$112,480 in the account.

The Auditor General noted too that in January 2019, the value of the investments appreciated to US$14.545 million, while the interest earned on the Investment Account rose to US$42,378. He pointed out that the Ministry then instructed the Bank in January of 2019 to close the ExxonMobil Account №. 845L5086 and transfer all balances to the Consolidated Fund.

“In keeping with the directive of the Ministry, an amount of G$3.065 billion or US$14.699 million was transferred to the Fund on January 24, 2019,” the AG highlighted, noting that a final transfer of G$104,867 or US$502.96 was made on February 14, 2019 “resulting in nil balances in the account.”

The Bank then closed the accounts in February 2019.

That transfer occurred before the High Court had ruled that the December 21, 2018 No-Confidence Motion was validly passed.

It was only after intense pressure from the media, that the Coalition Government headed by former President Granger revealed that it had, indeed, received the signing bonus from ExxonMobil at the time of inking the 2016 Stabroek Block Production Sharing Agreement (PSA).
Before that there was silence.

Replies sorted oldest to newest

@Totaram posted:

What are they investigating?  Is one to believe that people stole the money by depositing it in the Bank of Guyana?

Why not in the consolidated funds where the people/country would have access to it? Oh, i know he just deposited  his gift in bank of Guyana fuh haad time….hahahahaha [maniacal laughter]

sachin_05
Last edited by sachin_05
@sachin_05 posted:

Why not in the consolidated funds where the people/country would have access to it? Oh, i know he just deposited  his gift in bank of Guyana fuh haad time….hahahahaha [maniacal laughter]

Do you have an account at the Bank of Guyana?  Jagdeo? Ali? Granger? Uncle Tularam? Can you? Can they?

T
@Totaram posted:

Do you have an account at the Bank of Guyana?  Jagdeo? Ali? Granger? Uncle Tularam? Can you? Can they?

Don’t kill the messenger bro, take your argument to (TIGI) they said the cash should be deposited in the consolidated fund “The Transparency Institute of Guyana Inc (TIGI) recently reiterated its position that the US$18 million signing bonus, which was received from ExxonMobil, should have been in the Consolidated Fund and that there was a clear breach of the constitutional provisions when it was not placed there.”

Harmon would answer to the courts why he breached the constitution by not placing it there, also the courts might be interested to know if he got his million dollar yacht as a gift…

sachin_05
Last edited by sachin_05
@sachin_05 posted:

Don’t kill the messenger bro, take your argument to (TIGI) they said the cash should be deposited in the consolidated fund “The Transparency Institute of Guyana Inc (TIGI) recently reiterated its position that the US$18 million signing bonus, which was received from ExxonMobil, should have been in the Consolidated Fund and that there was a clear breach of the constitutional provisions when it was not placed there.”

Harmon would answer to the courts why he breached the constitution by not placing it there, also the courts might be interested to know if he got his million dollar yacht as a gift…

There was no theft of the signing bonus.  Read the article--all the money has been accounted for and Harmon doesn't have a million dollar yacht.  Any idiot can photoshop someone on a boat and make up stories about yacht or whatever.  You should stop laughing like a maniac and be more discerning about "news" being peddled by the corrupt PPP.

T

the governor of the bank of guyana knew of the account so nothing was hidden and there was no theft. they all breached the constitution at some point even charrandass, the man with a conscience

we want know how the ppp ministas can afford all dem mansions pon dem wages? how dem opening mall and owning housing schemes pon dem wages? how dem own hotels and property abroad pon dem wages? duh is wuh we want to know

S

imagine the ppp teefman lowlifes sell out we kaieteur and canje oil blocks secretly - worth billions - but barefaced enough to mek an issue about signing bonus

they better hope they stay in power forever. old man does still guh jail...19 fraud charges; law books theft

S
@sachin_05 posted:

Why not in the consolidated funds where the people/country would have access to it? Oh, i know he just deposited  his gift in bank of Guyana fuh haad time….hahahahaha [maniacal laughter]

Maniac Sachin is wuh happen to 19 the Charges versus Ali?

Mitwah
Last edited by Mitwah
@Totaram posted:

There was no theft of the signing bonus.  Read the article--all the money has been accounted for and Harmon doesn't have a million dollar yacht.  Any idiot can photoshop someone on a boat and make up stories about yacht or whatever.  You should stop laughing like a maniac and be more discerning about "news" being peddled by the corrupt PPP.



[TIGI quote]“Consequently, the money was not reflected in the Consolidated Fund as prescribed by the constitution. The arrangement, notwithstanding the fact that the money was not converted to private use, left the fund vulnerable to misuse given the lack of parliamentary oversight. The vulnerability of the fund motivated TIGI’s complaint to the SARA,” its letters said.

In setting out its position, TIGI added that the signing bonus should have been deposited into the Consolidated Fund for parliamentary oversight.

Since when TIGI is PPP propaganda? Nowhere in the article says the money was accounted for. It was not deposited in the consolidated fund so there was no parliamentary oversight how it was spent. Harmon could easily create [without parliamentary approval] a purchase order for three boats for the coast guard, one just happened to be a million dollar yacht like the motion scales, the complete order was never delivered. And viola like Patterson goldbracelet, one yacht was gifted to Harmon..hahahahaha [maniacal laughter]

sachin_05

Former Finance Minister incensed at insinuations and innuendoes


Dear Editor,

I refer to a letter, “Time for Justice”, penned by H. Yusuf and published in Kaieteur News, October 16, 2021. An excerpt from the letter reads, “It boggles the mind that after all the adverse publicity regarding the US$18 million bonus, which the former Minister and his Government vociferously denied, that the whereabouts of the monies are still an unsolved mystery.” Another extract reads, “One can only imagine that if the first monies from oil cannot be accounted for …”
I am outraged and incensed by the insinuations, innuendos and implications of these two extracts and his letter as a whole. If my memory serves me well, it was this same individual who libeled me in a letter published in Kaieteur News on October 18, 2019. You were forced to publish an apology in KN, October 25, 2019, while an action for damages in that matter waits the Court’s ruling.
In a very informative article in KN, October 15, 2021, under the caption “Govt. launches probe into ExxonMobil’s US$18M signing bonus”, Kiana Wilburg traced the origin of the signing bonus, its placement in a numbered and named account at the Bank of Guyana; and the subsequent closure of that account and the transfer of the proceeds, including interest, to the Consolidated Fund, in January 2019. All of this was detailed in the 2019 Report of the Auditor General.
On the basis of these facts, the average person would query the reason for KN publishing a letter, the very next day, in which the writer imputes improper motive to me, with respect to the signing bonus. In my view, it continues the public assault and assassination of my character. Be advised that I will not be cowed. I am prepared to take all necessary actions in this and other matters.

Yours faithfully,
Winston Jordan
Former Minister of Finance

Editor’s Note: It was unfortunate that the letter referenced was published. Indeed this was an error on our part and we hereby offer an unequivocal apology to Mr. Jordan.

https://www.kaieteurnewsonline...ions-and-innuendoes/

S
Last edited by Spugum
@Spugum posted:

the governor of the bank of guyana knew of the account so nothing was hidden and there was no theft. they all breached the constitution at some point even charrandass, the man with a conscience

we want know how the ppp ministas can afford all dem mansions pon dem wages? how dem opening mall and owning housing schemes pon dem wages? how dem own hotels and property abroad pon dem wages? duh is wuh we want to know

You should try defending Harmon in court, tell that to a judge when asked to account how the money was spent - tell him the governor knew so that’s your proof there was no theft, tell him they all breached the constitution so that gives your client Harmon the same right, tell him he should go find out how the PPP ministers own mansions, housing schemes and property abroad so that gives your client to own a million dollar yacht abroad…hahahahaha [maniacal laughter]

sachin_05
@sachin_05 posted:

You should try defending Harmon in court, tell that to a judge when asked to account how the money was spent - tell him the governor knew so that’s your proof there was no theft, tell him they all breached the constitution so that gives your client Harmon the same right, tell him he should go find out how the PPP ministers own mansions, housing schemes and property abroad so that gives your client to own a million dollar yacht abroad…hahahahaha [maniacal laughter]

Sachin is being  the proverbial Asstretch! hahahahaha

Burying your head in the sand? You're feeling guilty | Daily Mail Online

Mitwah
@sachin_05 posted:


[TIGI quote]“Consequently, the money was not reflected in the Consolidated Fund as prescribed by the constitution. The arrangement, notwithstanding the fact that the money was not converted to private use, left the fund vulnerable to misuse given the lack of parliamentary oversight. The vulnerability of the fund motivated TIGI’s complaint to the SARA,” its letters said.

In setting out its position, TIGI added that the signing bonus should have been deposited into the Consolidated Fund for parliamentary oversight.

Since when TIGI is PPP propaganda? Nowhere in the article says the money was accounted for. It was not deposited in the consolidated fund so there was no parliamentary oversight how it was spent. Harmon could easily create [without parliamentary approval] a purchase order for three boats for the coast guard, one just happened to be a million dollar yacht like the motion scales, the complete order was never delivered. And viola like Patterson goldbracelet, one yacht was gifted to Harmon..hahahahaha [maniacal laughter]

There is no point arguing with you as you are being obtuse.  You peddle defamatory material while hiding behind a keyboard.  The following from KN should be instructive but then again one needs a brain for that:

Editor’s Note: It was unfortunate that the letter referenced was published. Indeed this was an error on our part and we hereby offer an unequivocal apology to Mr. Jordan.

https://www.kaieteurnewsonline...ions-and-innuendoes/

T
@Totaram posted:

There is no point arguing with you as you are being obtuse.  You peddle defamatory material while hiding behind a keyboard.  The following from KN should be instructive but then again one needs a brain for that:

Editor’s Note: It was unfortunate that the letter referenced was published. Indeed this was an error on our part and we hereby offer an unequivocal apology to Mr. Jordan.

https://www.kaieteurnewsonline...ions-and-innuendoes/

So, from behind your keyboard you are accusing me of hiding behind keyboard, listen to yourself, are you that chupidy?
You posted a link to some apology to Mr. Jordan, for what? [Quote from article] In a very informative article in KN, October 15, 2021, under the caption “Govt. launches probe into ExxonMobil’s US$18M signing bonus”, Kiana Wilburg traced the origin of the signing bonus, its placement in a numbered and named account at the Bank of Guyana; and the subsequent closure of that account and the transfer of the proceeds, including interest, to the Consolidated Fund, in January 2019. All of this was detailed in the 2019 Report of the Auditor General.

I
f one was to believe KN kiana Wilber account you linked above is true, whyTIGI [six months later] on June 1, 2019 quote Harmon saying [Quote from article] “What the minister said was that it would be placed in the Consolidated Fund at the appropriate time. I believe now, based on what is happening with our budget, what is happening with the nearing of first of oil in Guyana, what is happening with the fact that we have established and made law the SWF [Sovereign Wealth Fund]—it is now an Act of parliament—that it is the opinion of the honourable minister that it is indeed a correct time for that funds to be placed in the Consolidated Fund,” Harmon said when asked about the decision.

Tell Harmon if he lend me the key to theyacht to cruise around sometime I can backtrack he out of Guyana with it when Anil drop the hammer pun he..hahahahaha [maniacal laughter]

sachin_05
Last edited by sachin_05
@sachin_05 posted:

So, from behind your keyboard you are accusing me of hiding behind keyboard, listen to yourself, are you that chupidy?
You posted a link to some apology to Mr. Jordan, for what? [Quote from article] In a very informative article in KN, October 15, 2021, under the caption “Govt. launches probe into ExxonMobil’s US$18M signing bonus”, Kiana Wilburg traced the origin of the signing bonus, its placement in a numbered and named account at the Bank of Guyana; and the subsequent closure of that account and the transfer of the proceeds, including interest, to the Consolidated Fund, in January 2019. All of this was detailed in the 2019 Report of the Auditor General.

I
f one was to believe KN kiana Wilber account you linked above is true, whyTIGI [six months later] on June 1, 2019 quote Harmon saying [Quote from article] “What the minister said was that it would be placed in the Consolidated Fund at the appropriate time. I believe now, based on what is happening with our budget, what is happening with the nearing of first of oil in Guyana, what is happening with the fact that we have established and made law the SWF [Sovereign Wealth Fund]—it is now an Act of parliament—that it is the opinion of the honourable minister that it is indeed a correct time for that funds to be placed in the Consolidated Fund,” Harmon said when asked about the decision.

Tell Harmon if he lend me the key to theyacht to cruise around sometime I can backtrack he out of Guyana with it when Anil drop the hammer pun he..hahahahaha [maniacal laughter]

Are you being deliberately obtuse?

Mitwah
@sachin_05 posted:

Tell Harmon if he lend me the key to theyacht to cruise around sometime I can backtrack he out of Guyana with it when Anil drop the hammer pun he..hahahahaha [maniacal laughter]

Let's see - hmmmm, nah

hardly think the idea of letting loose an ignoramus with a key on a yacht will appeal

S
@Spugum posted:

Let's see - hmmmm, nah

hardly think the idea of letting loose an ignoramus with a key on a yacht will appeal

How about I trow in some real authentic champagne? I went to champagne Mahaicony creek and check out pictures with the grapes I found - will be aged and ready, let me know….hahahahaha [maniacal laughter]

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sachin_05
@sachin_05 posted:

How about I trow in some real authentic champagne? I went to champagne Mahaicony creek and check out pictures with the grapes I found - will be aged and ready, let me know….hahahahaha [maniacal laughter]

i think you easily qualify as the village idiot here

S

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