Port-of-Spain: Former Group Financial Director of CL Financial, the parent company of Clico. Michael Carballo has been accused of covering up his involvment in sanctioning the payment of $750,000 to former Clico director, Andre Monteil to serve as a consultant for CL Financial.
Carballo's cross-examination wrapped up today.
Senior Counsel Martin Daly who represents Monteil told Carballo he is making public allegations against Monteil based on hearsay. Daly sought to clear up the aspect of Monteil's political connections, as Carballo claims he was told to take a back seat to Monteil's politcal links.
Daly insists Monteil was no longer a member of CL Financial or the PNM at the time of the PNM's bailout. Daly says Carballo omitted his participation in giving the go ahead to have Monteil paid $750,000 to be a consultant on the Lascelle de Marcado merger.
Carballo also faced cross-examination from Rajiv Persad who suggests Carballo should be investigated.
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