Holding expresses concern over findings of leaked CWI audit

Sat, May 16, '20

 

WICB

Did Cricket West Indies (CWI) run the risk of being involved in money laundering when it acted as a conduit for more than US$100,000 intended for the development of cricket in Dominica in 2018?

That and more are questions being asked by auditors and former West Indies fast bowler Michael Holding, who spoke out on the issue which was among several red flags raised by auditors in a recent report on the operations of the CWI.

According to Holding’s reading of the audit, that CWI has reportedly classified as ‘confidential’, but which the fast bowler characterized as damning and harsh, in 2018, the CWI received funds of US$134,200 from a sponsor on or about August 8, 2018, on behalf of the Dominica Cricket Association (DCA).

The money was received from a third party, which appeared to be an offshore corporation, Holding explained.

The auditors, Holding said, wrote that it was unclear why the funds did not go directly to the DCA.

However, the auditors, according to Holding, said the money was paid over to the DCA in three tranches; US$104,100 on November 16, 2018; US$15,700 on August 15, 2019, and US$14,400 on September 21, 2019. “In this particular situation, CWI was the financial conduit,” the auditors are quoted by Holding as adding.

Read more at SportsMax 

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