Dear Editor,
Ten years, and all that has happened in relation to Globe Trust and Investments Company Limited, is the payment of the Education Trust Fund. In respect to other savings, depositors have not been told anything.
One has to smile at the alacrity in which the Government of Guyana approached the Clico issue; an approach so swift that within weeks of the announcement of the liquidation of Clico, policy-holders began receiving monies due to them.
In Guyana all men/women are equal, but some (Clico) are more equal than others (Globe Trust and Investments Company Limited depositors).
The Government of Guyana has reneged most abysmally on all the promises they made to Globe Trust and Investments Company Limited depositors during 2001.
Back then, the government said that depositors would not lose their savings, and that efforts would be made to go, after the “fat cats.” Where are the depositors’ savings now? Who are the “fat cats”?
What has happened to the monies that some Globe Trust and Investment Company Limited debtors have repaid? What has happened to the money accrued from the sale of debtors’ assets? Where is the money that the Bank of Guyana acquired when they began the administration of Globe Trust and Investments Company Limited?
Someone in authority has to provide answers to the aforementioned questions. Additionally, President Jagdeo must explain the loss of depositors’ savings, caused allegedly by a person or persons attempting to stymie the liquidation process.
Globe Trust depositors are not interested in any investigation. Guyana’s ‘spit-press’ has already revealed who the culprits are, and the cause for the collapse. Globe Trust depositors need access to their savings. The same magic that was used in respect to Clico should be used for them.
Statesmanship is required; petty jealousies and polities must be cast aside when dealing with Globe Trust depositors.
Yours faithfully,
CS Vaughn
Major (retired)
