The Tribune

By Fay Simmons

Tribune Business Reporter

jsimmons@tribunemedia.net

The Opposition’s leader yesterday accused the Davis administration of failing to disclose “hundreds of millions of dollars” in awarded contracts as required by the Public Procurement Act.

Pledging to re-table questions left unanswered from the last Parliamentary session in the House of Assembly today, Michael Pintard said: “The questions will address the issue of the Procurement Act and the series of contracts the Government has allocated to the tune of hundreds of millions of dollars, not following the appropriate process.

“We intend, during this seating of the House of Assembly, to ensure that the public is aware of those contracts. We will, at the same time, convene the Public Accounts Committee and call for persons and papers in a series of public hearings, which will reveal to the public that this government has very little intention of behaving in a lawful manner when it comes to rewarding some persons who are loyal to their cause.”

Mr Pintard, while providing no specific contract examples to back his assertions, reiterated that the Opposition again plans to call for the House to appoint a special committee to investigate the FTX crypto currency exchange’s collapse.

He said: “We thought the collapse of FTX had the potential to cause reputational damage to The Bahamas. We then encouraged the government to stop dilly dallying. They really wasted a lot of time addressing the accusations against this jurisdiction, and we thought every day that passed would [harm] the reputation of our country.

“The Government ignored the recommendations, and then urgings and warning by the Free National Movement. And they took their own sweet time and allowed the international press to characterise us in a negative manner. We intend during this month of November to officially call for the establishment of this select committee and debate this in detail.”

He explained that the special committee would seek to answer ten questions, some of them involving whether politically exposed persons (PEPs) profited from FTX or its subsidiaries.

He said: “What is the nature of the relationship between all politically exposed persons relative to FTX and its officials? Did these politically exposed persons receive any loans from FTX, or any of its subsidiaries? Did any publicly exposed persons receive payments or donations from FTX? Or any of its subsidiaries?”

Mr Pintard said the Opposition is calling for the select committee on FTX “to ensure transparency”, and questioned if the Davis administration would be willing to discuss the role PEPs played in attracting FTX to The Bahamas and if these people benefited politically or financially as a result.

He said: “We called for the establishment of the select committee on FTX in order to ensure transparency, due public oversight in this matter, which we understood it back then and we believe now to be of international concern.

“And this is even more relevant now…since it has surfaced that the Prime Minister has asked the principal who’s now being investigated to provide advice to a member of his family.

“The question is: Are the Prime Minister and his colleagues prepared to have a full discussion of the role any of his members played in terms of helping FTX get established, acquire properties, hire persons - some of whom worked previously with government - and have they benefited personally or politically from any resources from this company.”