– Floyd McDonald Vice-Chairman
Deputy Head of the Presidential Secretariat Dr Nanda Kishore Gopaul was yesterday elected as Chairman of the New Building Society (NBS) at the body’s Annual General Meeting held at the Berbice High School in New Amsterdam, Berbice.
Former Commissioner of Police Floyd McDonald was elected as Vice-Chairman while Moen McDoom was re-elected as a Director. Also elected directors were Chandrawattie Ramson, Clement De Nobrega, Seepaul Narine and Ahmad M Khan, who is now the Secretary/CEO of NBS.
McDoom told the members of the society that they would not suffer financially as a result of the fraud that took place some months ago since the same rate of interest would continue.
The statement came in response to questions on the fraud and its effect on the pockets of members of the society. The Director said that had it not been for the financial irregularity, the society would have raked in $466M in profits. The NBS has declared a loss of $73M on a fraud claim last year.
Narine said after the meeting that he believed the holding of the AGM in Berbice was a new beginning for the society.
The meeting, this newspaper understands, went off without a hitch and over 250 people attended.
A group comprising concerned members of the NBS is calling for a forensic audit of the society and an examination in the way it has been and is being managed.
