Trinidad's Director of Public Prosecution says he is probing all files from the probe of the Colonial Life Insurance Company (Trinidad) Limited (CLICO), which has led the country's Central Bank to sue the company's former Chairman, Lawrence Duprey.
Roger Gaspardsaid the action is to determine if Mr. Duprey and other former employees of CLICO should face criminal charges for the collapse of the insurance company.
And Anand Ramlogan, the Attorney General of Trinidad and Tobago, said he would leave no stones unturned to ensure justice for thousands of CLICO policyholders, who were affected by the collapse of the company.
The Trinidad and Tobago Central Bank has already hired a fraud expert to look into the case.
They say they will try to determine if Mr. Duprey acted in the best interest on the company or themselves in conducting certain transactions.
Mr. Duprey is being sued over what the Central Bank says was mismanagement of CLICO assets including what it says were "egregious transactions" including the 2008 purchase of Lascelles de Mercado.
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