T&TCB ...where are 15 audits from CWI Funding?

TTCB behind by 15 audits that represents $29M from CWI funding

Over the last four years, between 2021 and 2024, the Trinidad and Tobago Cricket Board (TTCB) received more than TT$29 million (US$4.4 million) in funding from Cricket West Indies (CWI) for operating, tour and tournament expenses. According to Cricket West Indies’ annual audit statements, viewed by Guardian Media, the TTCB’s allocations from CWI increased by 69 per cent between 2022 and 2024.”The local board received $11.5 million in 2024, $9.5 million in 2023, $6.8 million in 2022 and another $1.8 million in 2021.

However, Guardian Media’s investigations discovered that the TTCB has over fifteen audits outstanding for the CWI.According to TTCB sources, the budgets submitted for the outstanding audits are worth around $20 million.Four post-event audits are outstanding for 2022, four for 2023 and another seven from 2023 onwards.The TTCB was given $11.2 million for tour and tournament expenses in 2022 and 2023.In a 2023 email obtained by Guardian Media Sports, Lucia Molyneaux, the Secretary of Cricket West Indies’ Audit, Risk and Compliance Department, wrote to five TTCB board members.

One of the recipients was TTCB President Azim Bassarath. Bassarath is also a CWI vice president.

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Firstly, Guardian Media Sports asked whether the TTCB submitted all required audits to CWI for the period 2022 to present.The last external, independent audit the TTCB underwent was carried out by PriceWaterhouseCoopers in 2018.

We also asked if the TTCB received the remaining 25 per cent of funding from CWI budgets due after the completion of post-event audits.

In response, CWI CEO Dehring said that he was not in a position to speak to specific disbursements or audit submissions at this time.

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On Friday, Guardian Media Sports’ Investigative Desk reported that, between 2019 and 2024, the TTCB received more than $30 million in taxpayers’ money through the Office of the Prime Minister’s Sport & Culture Fund and the Sports Company of Trinidad and Tobago.

However, according to concerned TTCB sources, the board has not been asked to account for its spending.The last external, independent audit the TTCB underwent was carried out by PriceWaterhouseCoopers in 2018.The reports found alleged misappropriation of sponsorship funds by the TTCB.The TTCB and its president, Azim Bassarath, were mentioned in the report.
The investigation “Project Barcelona” examined allegations of procurement, contracting and expenditure irregularities.The report also discovered that false information was provided by the TTCB in its financial statements for 2014 and 2015, including duplicate reporting of funds.

Meanwhile, an NGC audit found that the sponsorship funds were transferred by the TTCB without approval.

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On May 8, the Trinidad and Tobago Police Service’s Special Investigation Unit (SIU) raided the Couva offices of the TTCB.In a subsequent press release, police said they recovered key documents to an ongoing investigation.

In late 2023, whistleblower and former TTCB Treasurer Kiswah Chaitoo reported to police that up to $500,000 or more was missing/unaccounted for from the TTCB’s financial accounts, according to the findings of an audit.A female staff member wrote a resignation letter admitting to alleged misappropriation of funds. In the letter, she claimed that the amount could be between $200,000 and $300,000.

TTCB’s no confidence against ChaitooChaitoo was then removed in a successful no-confidence motion passed by 35 votes for and 12 votes against.
The motion came after some TTCB members believed Chaitoo acted in a manner that undermined the board.Several corporate sponsors paused or withdrew support from TTCB competitions because of Chaitoo’s allegations.

According to concerned TTCB sources, while the board audits and signs off accounts annually, the internally audited accounts are incapable of flagging alleged fraud because the cheques are signed by a signatory.
A cheque signatory is an individual authorised to sign cheques on behalf of businesses and other organisations.“Audited accounts will be sent to any one of the sponsors, but that is protocol. It does not speak to alleged wrongdoing.“To clean this up, there has to be a forensic audit requested by SporTT and the Office of the Prime Minister. There have been a lot of excess funds, yet the board is still requesting funding,” a board source said.

............The TTCB was incorporated under the Trinidad and Tobago Cricket Board of Control Act (Incorporation) Act of 1989.

Contacted for comment over the last weekend, TTCB President Azim Bassarath said, in the aftermath of the police raid, he sees no reason for himself or any member of staff to resign.Bassarath denied being interviewed in connection with the ongoing fraud investigation.

Time for this moron to be thrown out of all cricket positions.

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More investigations soon.

TTCB sources have questioned the operations of the company, Red Force T&T Limited.