MANNING MOVES ON MONTEIL

promises to ensure $110m HMB shares are transferred back to the bank
Juhel Browne jbrowne@trinidadexpress.com

Prime Minister Patrick Manning yesterday condemned the purchase of $110 million in Home Mortgage Bank (HMB) shares by the company co-owned by the bank's chairman, Andre Monteil, even if no laws were broken.

And he promised to ensure that the shares are transferred back to the HMB at the same price.
Several calls to Monteil's cellphone over the past two days for comment have gone unanswered.
In winding up the budget debate in Parliament yesterday, Manning said the transaction occurred under questionable circumstances, adding that he always intended for the matter to be the subject of a criminal investigation.

"I wish to make it collusively clear to all members of this House and to members of the national community that whether it is legal or not, it is contrary to Government policy and Government frowns on the whole way the whole transaction was conducted," Manning said.

On August 17, Manning told Parliament that Monteil had been cleared by the Central Bank and the Securities and Exchange Commission of any wrongdoing. Monteil is the treasurer of the ruling People's National Movement (PNM).

The Central Bank had said it came to this conclusion as an amendment to the Home Mortgage Bank Act this year did not treat with issues relating to share structure.

During the budget debate on Monday, however, Manning said he had referred the matter to Police Commissioner Trevor Paul, Director of Public Prosecutions (DPP) Geoffrey Henderson and the Integrity Commission.

Yesterday, Manning advised the House that the two reports were referred to these three agencies for action as they consider appropriate.

Paul has confirmed having received the reports and said a police investigation will be initiated into the matter.

Manning indicated to the House that he wished to make a comment on "the transfer of shares from the Home Mortgage Bank to Stone Street Capital, a company owned by Mr Andre Monteil and his wife, in circumstances that are very questionable".

In doing so, Manning apologised for saying, during the budget debate on Monday, that he had said in his first statement in the Parliament on May 9, that the matter had then been referred to the Police Commissioner, the DPP and the Integrity Commission.

He said it was not an attempt to mislead anybody.

Manning geh ketch lying wid he pants down. He should be walking wid some Vaseline all now.

Now who the fock Manning think he is to promise that the shares should be transfered back to the bank?

If the man didnt do anything against the law then the transaction is ok. But something is fockin wrong.

Why the mudder cont thing would be referred to that lick bottom Commissioner of Patronism ah mean Police?

Why would it be referred to the Director of Puubic Prosecutions ? Something wrong.

So if after their investigations (in which he will obviously be cleared) he did something wrong he should be charged and sent to the mudder cont jail to take some nigga toti in he ass (without the Vaseline).

And then we will deal wid the fockin shares.

Like Hazel gorilla face does really frighten yuh yes.