CLICO witness won’t be called

PORT OF SPAIN – Gene Dziadyk will not be called as a witness in the commission of enquiry into the collapse of CL Financial and the Hindu Credit Union, the Express has learnt.

This, despite the fact that Dziadyk (pronounced zadic) has already provided “information voluntarily to the enquiry”.

Gene Dziadyk

Dziadyk, a former consultant and director of CLICO, in an article published in yesterday’s Express newspaper said he is willing to tell all about his seven year tenure at the collapsed insurance giant.

Dziadyk said after he was invited to join CLICO in 2001 as Chief Executive Officer he sold all his assets in Canada and together with his wife handed over their life savings, reportedly over $35 million into the Executive Flexible Premium Account.

After six months as CEO, Dziadyk was fired by executive chairman Lawrence Duprey but was retained as a consultant until 2008.

Dziadyk was fired by Duprey again in April 2008.

The Express learned that Dziadyk had provided information voluntarily to the enquiry.

A decision, however, has been taken to not to subpoena or make Dziadyk a witness.

“He (Dziadyk) put all his money into the EFPA but his real grouse is that he is being treated as a related party in relation to the bailout and therefore he cannot get back his money and that is why he is launching this kind of attack,” a source said.

Being a former executive manager of CLICO, Dziadyk will not be able to get back his investment in accordance with the billion-dollar bailout of the company, the source said.

The stipulated timeframe for the delivery of witness statements was October 8.

None of the parties involved in the enquiry have named Dziadyk as a witness. The enquiry is scheduled to resume on December 3. (Express)

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