The government is claiming victory in the Piarco Miami Civil matter after a judgement went
in its favour.
Judge Reemberto Diaz delivered final judgement to Trinidad and Tobago of $131.3 million US
dollars or near $1 billion TT dollars.
Former Attorney General, Faris Al Rawi, made the disclosure while speaking during a news
briefing Monday.
Minister Al Rawi said interest will be 9 million US dollars per annum.
Steps are now being taken to enforce the judgement. There is a right of appeal which has not yet been invoked.
On March 29th 2023 a six person jury concluded with a verdict of guilt in respect of three defendants who include former Finance Minister, Steve Ferguson and businessman Ishwar Galbaransingh.
In 2004 the country started litigation against 52 persons and entities in this matter which has been going on for 19 years.
The criminal proceedings in the United States of America which are still in existence stands
separate and apart and any criminal proceedings is managed by the Office of the Director of Public Prosecutions.
The lawsuit alleged that the defendants participated in a scheme beginning in August 1996 to illegally obtain consulting and construction contracts at hyper-inflated prices via bribes, bid rigging and money laundering linked to an expansion of the Piarco International Airport.
Source: Power News Digital