Bridgetown.
The police have filed criminal charges against former executive chairman of CLICO Holdings Leroy Parris and current president Terrence Thornhill.
Parris and Thornhill are accused of contravening an order by the Supervisor of Insurance in 2009 which forbid the company's subsidiary CLICO International Life Insurance from solicting new business.
They have been charged under Section 185 of the Insurance Act, Cap,130 which states that anyone found guilty is liable to a find of $1000 or a year's imprisonment and where the offence is a continuing offence, by a a further fine of $250 a day for every day which the offence continues.
This new development in the CLICO saga follows a release this week of the results of a forensic audit into the operations of CIL. 
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