T&T’s Jack Warner ordered to repay multi-million dollar loan

A High Court judge has ordered former T&T government minister Jack Warner to repay TT$1.5 million to the owner of a local company which was used to finance the 2007 campaign of the United National Congress (UNC).

The funds, which was organized by businessman and UNC financier, Krishna Lalla, was paid to Warner by the technology company Real Time Systems Ltd over the period of two months.

Warner promised to repay

Lalla, who also owned Super Industrial Services Ltd (SIS), told the court that Warner had promised to repay him by February 2008 as he was expected to receive US$10 million from the International Football Federation (FIFA), of which he was then vice president.

Claims funds were a donation, not a loan

However, Warner, who served at one time as national security minister in the UNC-led People’s Partnership government between 2010-15, argued in court that the money was not loaned to him but was donated by Lalla for the financing of the UNC 2007 general election campaign.

Proper regulatory framework needed

In delivering his judgement on Tuesday, Justice Frank Seepersad called for proper regulatory framework for election campaign financing noting that in a developing democracy, courts should not have to decide whether sums of money received were spoils of campaign financing.

“The veil of secrecy and anonymity must be removed and there should be full disclosure of financial contributors, with caps placed on the amounts which can be received by a political party from individuals, companies or institutions.”

Justice Seepersad said for far too long election campaign financing has played a central and dominant role in politics. He  said taxpayers’ money and resources do not belong to any political party and cannot be used to court a party’s financiers. The judge also ordered that Warner pay interests and costs.