An employee of the East Port-of-Spain Development Corporation (EPos) who has two companies, has had $15 million in his assets frozen by the High Court.
Justice Frank Seepersad has issued an order freezing the assets of the employee and two of his companies.
EPos took the civil action after a forensic audit allegedly uncovered that unauthorized cheque payments close to $16 million were made over a four year period to Kirk Services Ltd, a trading company, of which EPoS accountant, Solomon Lamb, is a director.
Lamb, Kirk Services Ltd and Lamb’s company Solomon Lamb & Associates Internal Audit & Management Consultant, were named as defendants in the lawsuit.
The corporation asked the court to deal with its application as a matter of urgency, claiming there were instances of forgery of authorized signatures, fraudulent accounts for these payments, apparent manipulation or concealment of relevant records by Lamb.
Housing Minister Randall Mitchell said last week that a report was made to the Fraud Squad, but EPoS would also pursue civil action to recover the monies that were allegedly misappropriated.
He said the forensic probe initiated in November was prompted by financial discrepancies which were discovered in October.
EPoS management brought it to the attention of the board, who in turn raised it with Mitchell.
Seepersad, via video conference from the San Fernando High Court, granted the application to freeze the assets of the defendants in the amount of $15,225,871. 97. The defendants were also ordered to disclose all the particulars in relation to their accounts. The judge directed the parties to file their affidavits and adjourned the the matter to February 20, 2018.
EPoS was represented by Senior Counsel Douglas Mendes.
DOUGLAS MENDES SC