BREAKING NEWS: VECO Bribery Scandal – VECO Appoints Convicted Securities Fraud Felon As New CEO !
Original Investigation & Story Copyright Barbados Free Press – News Media Has Permission To Copy Story, Must Credit “Barbados Free Press” As Source
Scandal Ridden VECO Appoints Daniel E. Armel As Interim C.E.O. – Convicted Securities Fraud Felon
Does the Board of Directors for scandal ridden VECO Corporation know that their newly-appointed Interim C.E.O. was convicted and sentenced to 15 years imprisonment for his leading role in a securities fraud that took millions of dollars from trusting investors?
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UPDATE: Barbados Free Press Retracted this story
We reported in an earlier story that Barbados Free Press have been following the VECO story with the tenacity of a hound dog on the scent of a fox. Their most recent story suggest that the CEO of VECO has been convicted on securities fraud. The issue which this raises is what implication it has for the ongoing relationship which the Barbados government has with VECO, the company building the 200 million prison. Attorney General Dale Marshall has already gone on record giving Barbadians the assurance that the current obligation to finish the prison by VECO in Barbados will not be affected by the current scandal in the USA.
BU wishes to respectfully ask our AG what is the exit clause in the current contract with VECO and if the current situation is not mushrooming into a no-confidence situation. The reputation which Barbados has enjoyed over the years MUST not become tainted by internationl scandal. The AG therefore needs to state publicly in an unequivocal way how the Barbados government intends to deflect the vibes which continue to emanate from the current VECO arrangement.
Barbados Underground 
Better check BFP they put up an appoligy it is wrongfully named man.
June 6th, 2007 at 8:09 pm
I am eagerly awaitng the news today after the AG’s tour of the jail today, I cannot wait to hear him say that he is launching an investigation into how a project originally quoted at $ 120 million is now ( and I have it on good authority it now exceeds $ 300 million ) costing in excess of $ 300 million and counting.
It will also look into the contracts and who was involved in the awarding these same contracts and who are the local partners involved and who is being paid a commission on all the work going on here.
We need to look carefully into who has been and is being paid for this contract, we need to look into all funds that have been paid out to date on this project!!!!
Come Mr AG have the guts to order a full investigation (not a poo poo gov’t investigation) but bring in Scotland yard, avoid the FBI as this is an american company and they may not want to expose them outside of the USA as being dishonest as we know only those from outside the USA are terrorist, crooks and criminals.
Mr AG you need desperately to get to the bottom of this $ 200 million mess it would give you a lot of respect in the face of the nation, it may expose a few within and close to your cabinet such as Mottley, Owing,Nicholls and Bannister but they did the deed now let they do the time.
June 7th, 2007 at 1:47 pm
The question must be!!! this chap Armel if he is part of this corrupt company is it not likely that he is aware of their method of operation and by extension also likely to be dishonest as well???
Well done BFP I have seen where the Alaska press has a link to this blog now and I am sure it is making some waves there.
What need to know is who are the local components to this jail fraud.
Do the names Nicholls, Arthur and Bannister come to the fore when this project was awarded and what level of commissions are or have been paid to them??
Come on Mr Armel do your job honestly and reveal the truth about this contract as to who is being paid locally.
June 8th, 2007 at 6:37 am
Minister Mottley, who is also the island’s Minister of Home Affairs, also announced that the U.S. firm of Veco had won the bid to build a new prison. It would be situated at Dodds in the south eastern parish of St Philip.
A second bid from a consortium of local firms was rejected. The latter had wanted to do the job for Bds$125 million (US$64.5 million), or $25 million more than the U.S. firm.
It certainly now appears the $ 25 million would have been a small price to pay compared to in excess off $ 300 million and counting and Nicholls, Bannister and Owing would have had their slice out of either contract.
Have we not learnt that this gang of crooks are above being questioned??
This gang have perfected the art of robbing from us the taxpayers and treating was with contempt if we dare attempt to question their wayward ways.
When the PM of this island can openly deposit a cheque for $ 750,000.00 or maybe cheques to his personal bank account what does that indicate to you nothing other than gross arrogrance towards us the public, he is above being questioned by anyone.
That is why he has done and continues to do the back hand deals that he is doing, with the help of Nicholls, Shorey, and Bannister they all need to be investigated.
There is a page on the FBI website that allows you to submit details of things that maybe considered illegal and in the drop down country menu Barbados is listed.
I wonder if we were to submit information regarding the VECO and Nicholls and Owing Jail and Oil storage facility deals if it would activate an inquiry from the FBI or will Owing prevent that from being done as well??
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