Paulwell quizzed about account that was closed after Trafigura transfers
Published:Tuesday | March 8, 2022 | 12:45 PM
Businessman Prakash Vaswani requested that a local commercial bank close the account of an entity connected to the People's National Party (PNP) that got a significant chunk of a controversial $31-million payment by Dutch firm Trafigura Beheer, a prosecutor has revealed.
The disclosure came today on day two of the Trafigura hearings in the Supreme Court.
The entity in question is SW Services.
Trafigura made three wire transfers, each for just over $10 million, to an account operated by CCOC Association on September 6 and 12, 2006, according to prosecutors.
But on September 7 and 14 2006, CCOC Association transferred $30 million by cheques into SW Services' account.
Member of Parliament Phillip Paulwell gave evidence today that he now "understands" that SW Services "is a PNP account", but insisted that at the time he had no knowledge of it.
"I had not yet had such seniority in the PNP to be aware of such account," he said.
Deputy director of public prosecutions Andrea Martin Swaby cited a letter Vaswani wrote to First Global Bank on January 14, 2008 -- 15 months after the $30-m transfer -- requesting that SW Services' account be "closed at the earliest possible date".
"Why did SW Services account had to be closed at the earliest possible date and by order?" Martin Swaby asked Paulwell.
"I am not aware of that account," the Kingston Eastern and Port Royal MP replied.
"What happened to the remainder of the money in the SW Services account?" the prosecutor continued, referring to the balance of $1.2 million from the Trafigura payment.
"I do not know," he again replied.
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