Wednesday, August 03, 2005

Paul Denis Commission (CEA) - Factoid #1

Investigation of Banque Populaire Haitienne (BPH)

Alleged amount of Treasury Funds that transited through BPH for ulterior illegal expenses:

  • US$19,259,775.85
  • Gdes 123,861,480
  • TOTAL: US$ 22,356,312.85 (at exchange rate of Gdes 40/US$)
Alleged accomplices:
  • Mr. Faubert Gustave - former Minister of Finance
  • Ms. Rodnée Deschineau - former Director General of BPH
  • Ms. Ginette Céant - former Secretary of Jean-Bertrand Aristide
Alleged beneficiaries of embezzlement (members of the Aristide group):
  • Aristide Foundation for Democracy
  • Université Professionelle et Technique
  • La Fanmi Se Lavi
  • Fanmi Lavalas - political party
  • VJLS Computer Services - shell company
  • Global Spectrum - shell company owned by Lesly Lavelanet, brother-in-law of Aristide
  • SEPA'N Provisions Alimentaires - shell company
  • Max Buteau - intermediary
  • COCSOBFO Soleil Brillant - shell cooperative based in Leogâne (say what?)
  • Quisqueya Store - shell company
  • EFP Ingénierie - shell company
  • K-DO S.A. - shell company
  • Trujillo & Sons, Inc. - wholesale company based in Florida
  • Gerald Saint-Cyr - intermediary
  • SOCOL S.A. - shell company; link to Cuban government
  • Journal Diyite - newspaper of the Aristide Foundation
  • Fred Beliard - Florida-based businessman; part-owner of Haitian Television Network, Inc.
Observations about alleged embezzlement:
  • Rules and procedures of BPH were never respected. Ms. Deschineau had total control over embezzlement activities.
  • Ms. Deschineau was appointed by alleged accomplice, Finance Minister Faubert Gustave, and was given complete authority to do as she pleased.
  • Letters of guarantee were issued with no collateral provided by borrowers.
  • Transactions were effected with no supporting documentation.
  • Withdrawals were made from accounts belonging to an Aristide Group entity without the knowledge of nominal account holders.
  • Deposits from checks drawn on the Treasury did not comply with banking regulations
  • Ms. Deschineau had complete control over the account of the Private Secretariat of Jean-Bertrand Aristide
  • Amounts embezzled were:
    • used to build houses, buy land and engage in miscellaneous construction activities for the account of individuals
    • transferred from one account to another
    • used to open certificates of deposit in the name of indviduals
    • withdrawn as cash by individuals
    • were transferred to private accounts overseas

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