Chartered Accountant Dennis Chung is questioning several of the Integrity Commission’s claims in its report on Prime Minister Andrew Holness’ statutory declarations.
Chung says the basis of the conclusions are dubious.
Chevon Campbell tells us more.
In the report tabled in Parliament on Tuesday, Director of Investigation Kevon Stephenson says the millions of dollars transferred between three companies linked to Mr Holness raises several concerns.
He has called on Tax Administration Jamaica, TAJ, and the Financial Investigations Division, FID to probe the companies’ accounts for potential irregularities.
According to the report, Mr Holness is connected with, or had financial interests in three companies – Imperium, Positive Media and Estatebridge.
Imperium is wholly owned by Mr. Holness and is a holding vehicle for his assets.
A forensic examination of accounts attributed to Mr. Holness and the referenced companies for January 1, 2020 to June 13, 2023, reveal inter-company deposits and withdrawals in excess of $470 million and $427 million respectively.
According to Mr. Stephenson, the transfers are not supported by the apparent capital generated.
But Mr. Chung questions the veracity of this claim.
The chartered accountant also calls into question claims by the Commission that a company named Greenemerald does not generate sufficient income to support loans valuing $20 million to Positive Media between 2021 and 2022.
In addition, Mr. Chung says the Director of Investigations’ claim of potential tax evasion on the basis of certain entities filing nil tax returns is dubious.
Mr. Chung says the Integrity Commission should share the detailed findings from the international forensic auditor who was engaged as part of its probe.
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