Orville Taylor, Contributor
No! I was not displaced by the chief justice although I did disappear like the millions in some unregulated investment schemes. Anyway, whether 'Hill-advised' or deceived, thousands of Jamaican citizens are worried that they might have been taken for a ride and 'crashed' instead of 'cashed.' Some have found use for the extra 'R'.
Carlos Hill began operations here in 2002, during the PJ Patterson administration, offering to the public better deals than commercial banks. Scores of middle- and upper-middle-class persons with ready capital jumped on the gravy train and made megabucks. For more than four years, it was relatively secret, known to 'Mr Big' and his friends. No lawyer, banker or mainstream financial institution cried out or questioned the legitimacy of the attractive Cash Plus 'scheme'.
Hill and 'gullible' ride
Fact! Savers with less than $100,000 are the majority depositors in commercial banks. Thus, as long as the little man was not withdrawing his money, Cash Plus and other alternate speculative schemes (ASS) did not threaten the status quo.
As we rightfully quarrelled over the inappropriate 'donation' from Trafigura, the 'unDutchable' firm, Cash Plus finally became known to the public. The news got out and government pensioners jumped in, risking paltry life savings. Redundant workers wagered severance pay and Granny and Mass Chester sold cows to cash in on the rewards that the more affluent had received earlier.
The Hill and 'gullible' ride began in the United States, where Hill had been convicted and served a sentence and a paragraph for ... ? Swindling people out of their money! At least US$100 million was 'bandooled.' Nevertheless, he was allowed to operate in Jamaica with the precision of a surgeon cutting and sewing up a kilt of money.
Act of deceit
With millions in commercial banks here and the obvious likelihood that unregulated money could easily be fused with illegal earnings, it doesn't take a genius to realise that the 2005 Proceeds of Crime Act could be breached if the investors played the ASSs. Yet, it took the commercial banks two years after the act to act. Why?
Add to the list of the neglectful the political parties. As the Jamaica Labour Party juggernaut gained momentum and unravelled all the hidden details regarding the shady financial contributions to its adversary, 'Driver' and crew stopped just before the cash crash.
Equally disturbing is the inaction of Omar Davies as finance minister, and the governing People's National Party (PNP). PNP general secretary Peter Bunting replicated my earlier inquiry about politicians or political parties receiving pre-election contribution from Cash Plus. The Premier League football sponsorship is well known but the rumours about campaign injections are disturbing. If Hill was a major contributor to any or both political parties, then they would have sold us out in a major act of deceit.
'Bankcorrupted'
Interestingly, this saga is reminiscent of the 1990s meltdown when thousands of trusting Jamaicans were 'bankcorrupted'. Finance Minister Audley Shaw has appropriately ordered an inquiry. However, it appears that he is on Omar's shortlist of persons involved in the subsequent FINSAC bailout and, therefore, should excuse himself.
On another matter, the seat in West Portland is not yet vacated, although Labourites were misled over elected Member of Parliament Daryl Vaz's sworn allegiance to Uncle Sam. Much to the chagrin of Opposition Leader Portia Simpson Miller, who appointed her as part of her 'woman time now!' coup, Chief Justice Zalia McCalla ruled that a by-election be held, because Vaz was disqualified under the Constitution. It had been hoped that since the successful candidate had been wrongly nominated, the seat would have gone to the properly nominated one.
Anomalous situation
However, Vaz has been given a chance to de-Americanise himself, re-contest the seat and become the post-facto martyr, who sacrifices his prized American citizenship. Even a caveman knows it was just not a Dabdoub day.
Her ladyship cannot be faulted because although Vaz and the voters were publicly told by his opponent attorney Abe Dabdoub that he was disqualified from nomination, the director of election advised otherwise. In giving false advice, Danville Walker, himself unqualified for his post, allowed an anomalous situation. How could he not know that under the very laws that he is supposed to administer, neither Vaz nor himself were eligible? His dereliction of duty is either a major act of ignorance or deceit.
Nevertheless, all was avoidable. Edward Seaga, a born American, understood the dilemma of divided loyalties and gave up his birthright to serve his country. Vaz, and all 'foreigners' on both sides of the House should have followed the 'Seagan' principle and not wasted our time.
We clearly need constitutional and legislative change to become more like Trinidad and Tobago. All aspiring parliamentarians must declare, 'I am not, by virtue of my own act, under any acknowledgment of allegiance, obedience or adherence to a foreign power or state.'
Let's do an audit, the Jamaican people deserve better.
