Bassarath confirms fraud squad probe - CRICKET BOARD $$ MISSING

A MATTER involving the misuse of funds within the Trinidad and Tobago Cricket Board (TTCB) has been reported to the fraud squad.

Sources told Newsday that at a TTCB board meeting on Saturday, it was revealed that money cannot be accounted for.

An employee of the TTCB has since resigned.

TTCB president Azim Bassarath confirmed to Newsday that a police report was made, and an auditor has been hired to handle the matter.

Bassarath said, "We have a letter in our hands where a former employee, who has since resigned, admitted to some wrongdoings, and the matter has since been reported to the police."

Asked how much money was unaccounted for, Bassarath said the sum was yet to be determined.

"The board approved on Saturday to hire an independent external auditor to quantify, do an audit...we do not know the quantity as yet.

"We prefer to leave it until the external auditor do his findings."

Bassarath said, "We only saying (that) what you heard is true, and we have reported the matter to the police."

Newsday spoke to a TTCB member who attended the board meeting. He said most of those in attendance were unaware that a situation was happening within the organisation.

During the meeting, the treasurer read from a document stating that $18,000 was unaccounted for. However, as the meeting progressed, the figure kept going up. The TTCB member told Newsday the board was told an additional $132,000 was unaccounted for. The treasurer then revised that to more than $500,000.

The member said the treasurer reported trying to speak to the employee who resigned before the board meeting without success.

The treasurer told board members that the former employee was not co-operating after agreeing to refund the TTCB the initial $18,000 that was unaccounted for.

Newsday was told the treasurer tried to handle the matter internally with the help of a three-member committee, but after those attempts failed, decided to take the matter to the fraud squad without the board's knowledge.

The TTCB member said the board was told the matter was reported to police a few days before the meeting.

The source said the treasurer wanted to protect himself and felt taking it to the fraud squad would protect his name.

In the meeting, the treasurer revealed that some cheques for the missing money were signed electronically without approval, while other cheques were signed physically.

The trail of missing money leads back for about five years, Newsday was told.

The TTCB member said the treasurer told the board when he took the post, it was common practice that blank cheques would be available in case any situations arise where money is required.

The news revealed during the meeting caused a stir among the board members, and micro meetings were held after to discuss it.

This is not the first time the TTCB's finances have come under scrutiny.

In 2018, a financial audit by the National Gas Company showed that 24 per cent ($2,983,000) of its funds to the local cricket body was not spent according to stipulation between 2014-2016.

Section (1) clause (iv) of the memorandum of understanding signed by the TTCB and NGC reads, “TTCB shall not transfer disbursement allocated to any of the line items on the funding requirement and disbursement schedule to items not included in this schedule unless agreed to by the NGC. All requests for transference must be made in writing. NGC reserves the right to refuse any such request for transference.”

According to the audit, the TTCB did not inform NGC of its intention to reallocate funds.

The TTCB executive has said it reallocated funds that were not used to other cricketing areas within the agreed framework.