The Kaieteur News has again been exposed for carrying a misleading article – the most recent one published in its edition on Sunday regarding Property Holdings Inc (PHI), which is headed by Executive Director of the National Industrial and Commercial Investments Limited (NICIL), Winston Brassington.
The article, which appeared on page seven, claimed that the PHI owes the Mayor and City Council for rates and taxes on six properties. It noted that a request to waive interest was sent to the M&CC through the Local Government and Regional Development Ministry.
What is glaringly and deliberately missing from the article is the fact that the indebtedness of PHI is a direct result of the failure Mohan Lall, aka Glenn Lall, and Tony Yassin to pay rates and taxes.
Lall and Yassin owe M&CC Gy$156.7 million, plus interest of Gy$91.1 million, for rates and taxes on the six properties. In 2004, PHI filed legal action to recover the properties, but the trial is yet to start. The most valuable properties of PHI are a garage property, an electrical property, a property at New Amsterdam, Berbice and another at Lima, Essequibo Coast.
These four properties are some of the most valuable remaining assets of PHI. But shareholders are upset, as Lall and Yassin have not paid a single cent to PHI since 2000. Comments by the respective parties on the matter are muted given a court order.
PHI, which has over 1500 shareholders, was created in 1999. Each shareholder received shares in PHI at no cost. PHI shareholders are former employees and members of the public. The annual general meeting of PHI for 2009, 2010, 2011 and 2012, which was held on October 23 at Regency Suites on Hadfield Street, Georgetown, was adjourned for a poll vote.
Meanwhile, a number of persons have been hauled before the court for non-payment of rates and taxes to the M&CC amounting to millions of dollars. Among them is Mohan Lall, aka Glenn Lall, who was represented by attorney and leader of the Alliance For Change (AFC) Khemraj Ramjattan.
Lall and his wife, Bhena, are accused of owing the M&CC more than Gy$5.6 million in taxes for a property at 24 Saffon Street, Charlestown, Georgetown, according to court documents seen by this newspaper. In a Kaieteur News report on October 11, Lall admitted to owing rates and taxes, but claimed that he had an understanding with the M&CC that the millions of dollars he and his wife owe would be off-set via services provided by his muckraking newspaper.
Also being sued is Lallbachan “Lalloo” Christopher Ram who has three matters. Ram reportedly owes more than Gy$11 million in taxes for properties on Waterloo Street, North Cummingsburg.
In a press release issued on October 11, Ram admitted to owing taxes and claimed that discussions on the matter go back to the 1990s when agreement was reached to have balances due for services rendered to the M&CC offset the millions of dollars he owes in rates and taxes.
