Investigate Assets Sale by Finsac

This letter is a request for action on behalf of my family, I and others in the wake of a two-decade old matter for which no resolution has been reached. Recently, we learned of the Government’s “write off” of one hundred and six billion dollars of debt and a plan to wind up the Financial Sector Adjustment Company (F.I.N.S.A.C.) operation within twelve to eighteen months without any formal communication with persons whose assets are held.

The depredations of Century National Bank and companies owned by my Family and I and others are a clear reflection of the aggressive control policies and inhumane actions of former Minister of Finance Omar Davis. The myriad of consequences faced by my family, I and others as a result of the former Minister’s personal attack by sending in the armed guards to seize the Bank includes the hastened passing of my Mother. We have been swept away in this economic version of ethnic cleansing which was crafted through the surge in capricious politics led by Omar Davis that infected the management of Jamaica's economic affairs in the 1990s. This has also resulted in the devastation of a generation of non-traditional Jamaican entrepreneurs including my family, myself and others.

The preferred policy option would have been to strike a better balance of continuing the operations of a number of the viable businesses thereby preventing further financial and human losses which have now resulted in the massive write-off of bad debts by the Government of Jamaica.

Much deliberation had gone into this matter including a costly and ineffective Inquiry which has only served to malign persons like myself. It has been noted that FINSAC (Financial Sector Adjustment Company) has evolved into a uniquely ubiquitous metaphor for the economic malady that crippled the Jamaican economy through the 1990s and continues to this day to scar the economic lives of many in our society.

I have also communicated with Governors-General, Prime Ministers, Minister of Finance and Attorney representing Financial Sector Adjustment Company (F.I.N.S.A.C.) the list of egregious acts unleashed on my family,I and others;
• Failure to provide accounting of Assets, their disposal and fees accrued
• Wrongful utilization of judicial and political interference that has prejudiced all legal matters pursued
• Denial of rights/access to Assets and benefits necessary for basic survival and maintenance of health.
• Malice and injury caused to our person(s)
• Application for an indefinite use of Mareva order to muzzle, strangulate and intimidate thus preventing proper course of obtaining redress to illegal act
• Violations of Company’s Act of Jamaica relative to required reporting in matters of dissolution of companies
• Violation of Human Rights, denying basic passage of justice without prejudice
• Dereliction of Public Trust through use of public office to violate the rights of my family, I and others.
• Application Excessive interest and penalties applied to accounts held by my family, I and others without justification
• Misrepresentation of information that my family and I owned one hundred percent of the companies I led

It was concluded, that the actions of Financial Sector Adjustment Company (F.I.N.S.A.C.) are far more detrimental to the individual business owners because of the improper handling of assets after the seizure. The economic nightmare caused by FINSAC has blighted the economy and plunged the country into a vortex of economic decline with thousands of businesses closing their doors. It locked Jamaica out of the great global economic surge that took place during the 1990s and 2000s, and today it has left us lagging behind other countries which have made significant gains while we still remain entangled by this albatross.

Left without a comprehensive review. Resolution for affected persons and enactment of new measures to prevent a reoccurrence will result in the continuance of the country is economically dysfunctional. Therefore, it’s time for serious discussions about the real issues:
a. The devastating impact of the financial strangulation of my family and I.
b. Inequalities in how the government has treated me over two decades.
c. Losses to the tax paying citizens of Jamaica

As a citizen of Jamaica, I respectfully request that you act to reverse course and cause the Houses of Parliament and your Public Administration & Appropriations Committee (P.A.A.C.) or a Special Select Committee to institute a thorough review of the accounting of Financial Sector Adjustment Company (F.I. N. S.A.C.) and the release of properties and other Assets to my family, I and others.