Forensic Audit Vindicates SLBC Board
The St Lucia Banana Corporation properly utilized 3.6 million dollars which was the source of contention among SLBC shareholders, according to the findings of a forensic audit.
The report prepared by Mario Lendor was made public at a news conference Friday.
It concluded that, the assertion that the money due to the SLBC by WIBDECO was to be used as dividends is not substantiated.
"Based on the documents reviewed and facts presented, the management and Board of Directors of the Corporation did not utilize the $3,624,515 for any other uses except legitimate business purposes," Mr. Lendor said.
He said most of the money was used to payoff for corporation's debts.
Meantime,
Shareholders of the Saint Lucia Banana Corporation say they won't recognize the findings of the forensic audit.
It was commissioned by the Eustace Monrose-led Board of Directors, to account for millions of dollars which the farmers claim are unaccounted for.
The shareholders, led by Elias Amorsingh say they plan to launch their own investigation.
Eustace Monrose announced Thursday that he would not be seeking re-election to the board of the SLBC; ending months of fighting for control of the company.
At the same time he extended an olive branch to the disgruntled shareholders to reconcile their difference.
However the gesture has been rejected by Mr. Amorsingh, who said he would not meet with Mr. Monrose.