Government of the Republic of Trinidad and Tobago

Media Release: Dangerous Misinformation from Senator Mark about FCB’s Investments

The Minister of Finance, Hon. Colm Imbert MP has taken note of the fact that yesterday, July 6, 2022, Opposition Senator Wade Mark came to the Senate and made a frenzied rant about an alleged loan allegedly made by First Citizens Bank (FCB) to a company called Cornerstone Financial Holdings Limited (Cornerstone) and demanded an immediate investigation into this matter.
In his irresponsible outburst, which was obviously intended to harm the reputation of both companies, Senator Mark alleged, without a shred of evidence, other than regurgitating unfounded insinuations in the newspapers, that FCB had invested hundreds of millions of TT dollars in what he described as an unknown over-leveraged fly-by-night company, involved in a Ponzi scheme.