Page 38 - ECEM

A15
LOCAL Thursday 9 March 2017

Irregularities Cited Within the Board of Caribbean Palm Village

NOORD - There are a lot of Overseer of Operations was Audits have not been per-
irregularities under investi- terminated in December of formed in the last 5 years till
gation at Caribbean Palm 2015 and his compensa- today.
Village. The person they are tion was revoked also by Before this incident with
focusing on now, Mr. Dan- the remaining Board Mem- Mr. Maloof, the incumbent
iel Louis Maloof, also known bers. Notwithstanding this Board, which at the time
as Dan Maloof, was until specific order, Mr. Maloof included Mr. Maloof, also
recently the Vice President subsequently paid himself terminated another mem-
of the Board of Caribbean in excess of US$ 35,000 dur- ber of the board, Mr. Ran-
Palm Village. He was given ing 2016. dolph de Cuba, because
the task of Overseer of Op- He was able to make these alleged defalcations, of
erations and the financial payments to himself since which Mr. Maloof is also be-
matters of the Association. he had complete authority ing accused of. However
For this position he was of all of the bank accounts. the incumbent board nev-
paid US$ 5,000 per month, However, there must have er divulged the information
which is against the Articles been cooperation from a about his dismissal.
of Association, because specific or specific Board The Articles of Association
compensation to any Members for approval of delineates specific rules
board members must be these payments. and regulations how to
approved by the Member- He was not only removed counts, and cannot be pervision, the board has deal in these above situa-
ship and not determined from his position for this rea- found in the accounting re- decided to suspend your tions, however these were
by the Board of Directors. son, but also for charges of cords. Did it just disappear? membership pending in- apparently disregarded in
In addition, he was also Customs Fraud for evasion With regard to Mr. Maloof’s vestigation.” both cases.
paid a per diem, as were of import duties. actions, the Board goes on The Articles of Association We will continue to keep
other Board Members, in This matter was settled to say, “Due to the afore- also mandates that an an- you abreast of any new
the amount of US$200 per short of criminal charges, mentioned and the fact nual audit be performed, developments coming our
day, for a maximum of US$ in which a fine was paid that the Board has decid- however these might have way.
6,000 per month, which is but the amount paid with ed to initiate a full scale been purposely withheld If you have any comments
also against the Articles of a cashed Cooperative As- investigation on several (fi- because of all of the irregu- or reactions to this article,
Association and its bylaws. sociation check never ap- nancial) irregularities that larities occurring within the please email us at noticia@
Mr. Maloof’s position as pears in the books of ac- took place under your su- Board. bondia.com.q