Trinidad sees rise in white collar crime

President of the Chamber of Commerce, Andrew Sabga calls for those who commit corporate crimes in Trinidad and Tobago to be called to account.

PORT-OF-SPAIN, Trinidad, Monday April 30, 2012 – White collar crime in Trinidad is on the increase.

According to 2011 figures, crimes in laundering and fraud increased from 111 in 2010 to 303 last year.

And, president of the Chamber of Commerce, Andrew Sabga is calling for all those who commit crimes in corporate Trinidad and Tobago to be called to account if apparent misappropriation of funds was evident.

According to reports, Mr. Sabga charged that many alleged abuses of corporate governance were revealed during the Enquiry into CL Financial. Those, he said, have made it clear that there is an urgent need for the adoption of good governance practices and law enforcement.

He made the call for swift justice for offenders to be called on to give an account in cases where misappropriation of funds was evident.

The president expressed concerns that the lack of accountability in Trinidad and Tobago for crimes committed in the corporate world seem to be growing as the established trend.

However, he noted that recommendations coming out of the Commissions of Enquiry were expected to be reviewed and implemented soon, resulting in anyone found guilty of wrongdoing being held accountable for their actions. Click here to receive free news bulletins via email from Caribbean360. (View sample)