Harry Harnarine says he is willing to co-operate with any further police investigations to be conducted into the collapse of the Hindu Credit Union of which he was head. Harnarine was reacting to the statement made by Prime Minister Kamla Persad-Bissessar during yesterday’s sitting of the Lower House
In a telephone interview yesterday, Harnarine said, “So far I was not questioned by the police, neither was I questioned by any authority up to this point in time. If they have to continue a new investigation into the matters they have already investigated, I am here again to present myself and to co-operate with all the authorities. I am not running and I am not hiding. We (the board members and the president) still have not been given the right to be heard.”
On Thursday, Commissioner of the Enquiry into the collapse of the Hindu Credit Union, Sir Anthony Coolman, presented the final report to President Anthony Carmona. The presentation was made at President’s house, St Ann’s, Port-of-Spain. The major concern raised after the collapse of the credit union was the depositors’ funds.
In mid-June, during the winding up of debate on the Purchase of Certain Rights (HCU) Bill, Finance Minister Larry Howai had said the legislation was needed to ensure depositors in the disbanded Hindu Credit Union would be able to receive $75,000 in cash and those with shares over that figure would also be paid via bonds. Howai also said the exercise was expected to cost the State $400 million and the Government was committed to meeting the payments to the former shareholders.
Asked whether he was concerned that depositors had not received their funds, Harnarine said, “It is not a drain on the Treasury. The parliamentarians went to Parliament and held $400 million of the credit union’s assets to secure the $400 million bonds. Everybody went with the idea that it is $400 million taxpayers’ money going and that is not so,” he said.