Several senior NBS officials arrested

Last Updated on Tuesday, 23 January 2018, 19:01 by Denis Chabrol

At least six managers of the New Building Society (NBS) were Tuesday evening detained and taken to police stations in connection with alleged unlawful imprisonment of several persons at the financial instiution’s headquarters during the day.

Four security guards- three employed by NBS and one by Professional Guard Service-were also arrested and taken to a nearby police station.

Police are probing allegations that the guards were instructed earlier Tuesday to lock the doors and gate with several customers, a reporter, a policeman, High Court Marshals and a lawyer.

Apart from the customers, who were subsequently allowed to leave through a back door, the others had been inside NBS to levy on assets totalling GY$59 million after the mortgage lender had refused to pay Maurice Arjoon, former NBS Chief Executive Officer  in violation of a Court order.

Three labourers, who had gone to take away moveable assets as part of the levy operation, were among those who were inside the building.

Arjoon was sacked in 2001 after he had been accused of conspiring with others to defraud NBS of GY$69 million. They were all later cleared of the allegations, and Arjoon subsequently sought damages for wrongful dismissal, loss of income, pensions and damage to his character.

He was awarded a High Court judgment of GY$79 million, but the Court of Appeal last  December said he should be paid GY$59 million. That amount represents pension that is due to him.

After a stand off lasting several hours, NBS paid GY$59 million by cheque.