Clico Invested Money In Horses
Wellington Preserve Corporation, a South Florida equestrian real-estate development company which held a secret bank account at State-owned First Citizens Bank (FCB), is not registered in Trinidad & Tobago, according to online company registry searches done yesterday.
The South Florida company benefitted from funds from Clico (Bahamas) Limited, which is a subsidiary company within TT’s CL Financial Group, once chaired by Lawrence Duprey.
Clico (Bahamas) Limited is owned by Clico Holdings (Barbados) Limited, which is owned by CL Financial. Wellington Preserve Corporation is itself owned by Clico (Bahamas).
Newsday understands FCB officials were yesterday served with an order issued by Judge Erik Kimball of the bankruptcy court of the Southern District of Florida.
The order calls for the bank to close account No161946 in the name of “Wellington Preserve Corporation” and to have the money in the account (US$.5 million or TT $3.3 million) paid into a Florida Bank account for the purposes of an ongoing liquidation.caribbean, corruption, financial