T&T banks subpoenaed in bid to trace Hindu Credit Union money
(Trinidad Express) Two of this country’s commercial banks have been issued subpoenas as an attempt is being made to piece together a paper trail in order to determine exactly how millions of dollars were withdrawn from accounts of the Hindu Credit Union.
Legal representatives for Scotiabank Trinidad and Tobago Limited and Intercommercial Bank Limited on Monday appeared at the Commission of Enquiry into the collapse of CL Financial and the Hindu Credit Union to respond to the subpoenas.
Senior Counsel Douglas Mendes on Monday appeared on behalf of Scotiabank.
Mendes said he held a 10 a.m. meeting on Monday with the executives from the bank in order to assist the enquiry.
“I have spoken to one of the persons who was involved in one of the transactions from on the bank’s side and I got a lot of information on the three cheques that we have information about,” Mendes said.
Mendes, however, said two other bank officers who were also involved in the transaction have since left the bank.
“I am happy that at this stage we will be able to provide you with more definite answers as to what those transactions were about,” Mendes said.
A statement from the Scotiabank officer is expected to be filed at the enquiry today, Mendes said.