Former CLICO Chairman Leroy Parris gets $1.5 million bail

Former CLICO Chairman Leroy Coleridge Parris was granted $1.5 million bail after appearing in the District ‘A’ Magistrates’ Court this morning on multiple charges, including theft, fraud and money laundering.

Parris, 75, of No 8 Dayrells Heights, St Michael, is accused of stealing BDS$3 333 000 belonging to CLICO International Life Insurance Limited, between December 1, 2008 and April 27, 2009.

It is further alleged that during that period, he conspired with other persons to defraud CLICO International Life Insurance Limited of the same amount by inducing the insurance company to pay out the money to Thompson and Associates.

Parris is also charged that between April 1, 2009 and March 31, 2010, he conspired with others to cheat the Crown and the Commissioner of Inland Revenue of Public Revenue, by failing to submit tax returns to the Commissioner or account to the said Commissioner for taxes on his income for the year ending March 31, 2010.

The fourth charge states that between December 1, 2008 and April 27, 2009, Parris engaged in money laundering where he concealed BDS$3 333 000 – the proceeds of crime.
The matters are indictable and Parris was not required to plead before Magistrate Kristie Cuffy-Sargeant.

With no objections from the prosecutor, he was granted bail with two sureties.

He was represented by attorneys-at-law Hall Gollop Q.C., Michael Yearwood Q.C., Michael Lashley Q.C., and Neil Marshall.

Parris was ordered to surrender his travel documents, which was done, and he must also report to the Glebe Police Station every Monday and Friday before noon, with valid identification.

He will make his next court appearance on November 19.

(Barbados TODAY)

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