The Corporate Secretary of the Guyana Power and Light Inc (GPL) yesterday testified that prior to 2015 none of the board members were paid.
Corporate Secretary Laurian Bancroft was at the time testifying at the trial of former GPL board member Carvil Duncan, who is charged with stealing and conspiring to steal along with another over $28 million from the company.
It is alleged that on March 31, 2015, at Georgetown, Duncan conspired with another to steal $984,900, which was property of GPL Inc. It is also alleged that between May 7 and May 8, 2015, at Georgetown, Duncan also conspired to steal the sum of $27,757,500, which was also property of GPL.
When the trial continued yesterday before Magistrate Leron Daly, Bancroft began to give evidence as it related to the allegations leveled against Duncan.
As part of Bancroft’s duties, she is to ensure that the decisions of the board are relayed to management and matters pertaining to management are submitted to the board.
In her testimony, she stated that prior to 2015, none of the members of the GPL board were paid.
It was further stated that according to the bylaws, the company is responsible for establishing director fees, which is to be done by the chairman.
She added that prior to February of 2015, no director fees were established and or paid.
However, according to Bancroft, a Cabinet decision on the fee structure was shared with her.
Duncan, who has pleaded not guilty to the charges, has publicly stated that his payment—$984,900—was approved by way of a Cabinet circular which sets out board fees. He has also stated that he was paid fees owed to him for some six years since the company had not paid its board members and they were forced to use their own money for transportation and other expenses.
Bancroft’s testimony was suspended and the matter subsequently adjourned to July 26.
