PM’s brothers deposit $250,000 at BLA

KINGSTOWN, St. Vincent, March 12, IWN — The brothers of Prime Minister Dr. Ralph Gonsalves have re-deposited EC$250,000 of the $1 million they withdrew from the Building & Loan Association in October.

The deposit was made on Monday, Gonsalves told I-Witness News.

Gonsalves, who is also Minister of Finance, had restated in Parliament on Monday his call for persons who withdrew money from the beleaguered building society to reinvest.

He also called for persons who have given notice to withdraw their investment from the BLA, to reconsider.

Gonsalves had previously told the nation that his brothers withdrew the money from their elderly, sick mother’s account after a former director of the BLA advised them to do so.

The Financial Services Authority on Feb. 1 took over management and control of the BLA after depositors withdrew $9 million over a two-week period.

Luke Browne, an economist at the Ministry of Finance, in January wrote a newspaper letter asking if the BLA was on the verge of collapse.

The letter triggered the run on the BLA.

Gonsalves told Parliament on Monday that he was restating his government’s commitments to saving the BLA.

He reiterated that the government has converted into shares at the BLA, the $6 million that the BLA owed in taxes.

Further, Gonsalves said he has asked the Eastern Caribbean Central Bank to put on stand-by a $15 million loan, should the BLA need such liquidity support.

The Prime Minister also noted that his government has identified the BLA as a priority institution for the next tranche of money under CLICO and BAICO insurance companies.


3 thoughts on “PM’s brothers deposit $250,000 at BLA

  1. Reinvesting the $250,000 does not alter the fact that according to Gonsalves his brothers acted on insider information.

    Where is the rest of the money?

    Is there any proof of where this money originated from.

    Posted by peterbinose | March 12, 2013, 08:17
  2. That is just a face off, another form Gonsalves’s cunning strategy to fool idiots like Vincy Powa

    Posted by profdasilva | March 12, 2013, 21:41
  3. Poor Peter and his alter ego ProfDasilva with their SILLY CONSPIRACY theory and propaganda.

    Hey FELLA(S), the people of this BLESSED NATION have CONFIDENCE in the BLA, the FSA and the words of the PRIME MINISTER, and that is why those who took out their money are coming back to invest in that same institution, so enough of your SILLY CRYING.

    By the way, what Dr. Gonsalves’ brothers do with the REST of the MONEY is “NONE of your GODDAMN BUSINESS.

    It seems like LINTON LEWIS is RUBBING off on me. LOL

    That is the kind of INSULTING Linton Lewis uttered over the airwaves for the world to hear. He told a caller on a local programme that it was NONE OF HIS GODDAMN BUSINESS to ask him a question in regards to his bank account.

    Linton is the same fella who wants to be the PRIME MINISTER of SVG, and who said that SVG is an “INSIGNIFICANT PLACE IN THE WORLD.”

    He and Eustace are the so-called leaders within the NDP who wants to govern SVG.


    Again, I would not HIRE EUSTACE, LINTON and the NDP to GOVERN a MAUBY SHOP MUCH LESS GOVERN a COUNTRY, especially in these times.

    Posted by VINCYPOWA | March 13, 2013, 15:53

I-Witness News’ tweets


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