Wednesday, April 19, 2006

by Ivan Cairo
Caribbean Net News Suriname Correspondent
Email: ivan@caribbeannetnews.com

PARAMARIBO, Suriname: Executives of DSB bank, Suriname’s oldest and most prestigious commercial bank, have been charged with an alleged conspiracy to transfer millions of US and other foreign currencies from a casino to Dorsett Hotels & Resorts Inc.

Among those charged are casino manager Jeffrey Clague from New Zealand, and one of the two owners of Suriname Palace Casino, Gautham Parbhoe, a Surinamese businessman.

President of DSB bank Sigmund Proeve, former president Ed Muller, and top executive Patrick Bhagwandien were summoned to appear in court next week. Dorsett and its Surinamese subsidiary company (Suriname Leisure) were also charged.

According to the subpoena, the suspects have violated the country’s currency laws because the money transfers were not sanctioned by the Currency Board. Most of the illegal transfers occurred between 1999 and 2003, but continued beyond 2003, according to Gautham Parbhoe who is also being charged with the transfers.

In an interview with Caribbean Net News, the casino owner welcomed the trial, expressing he has nothing to fear.

According to his defense argument, he and his late brother wrote numerous letters to the executives of the bank, the Currency Board, Central Bank and other authorities after they discovered the illegal transfers in 1999.

However, his communications went unanswered and the money transfers were completed without permission.

“Nobody has done anything about our complaints. I am not keeping my mouth shut any longer. This illegal activity that has ruined me financially should stop,” said Parbhoe.

He also claims that casino management committed tax evasion with the consent of top officials from the Internal Revenue Service. “When the trial starts, a number of people will go down,” said Parbhoe.

The casino was closed in December 2004 after the Ministry of Justice and Police deemed the operations to be illegal, because Parbhoe withdrew his casino license from the venture in 1999.

In January 2005, the Suriname Palace Casino was evicted from the building where they previously operated the casino.

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