Minority Shareholders Activist, Peter Permell, says the former Independent Senator Subhas Ramkhelawan had no choice but to resign from his position in the Upper House and the Trinidad and Tobago Stock Exchange.
Mr. Permell says this is not the end of the businessman’s troubles.
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Mr. Ramkhelawan’s resignation was accepted by President Anthony Carmona yesterday.
The purchase of over 600,000 First Citizens Bank shares by Mr. Ramkhelawan’s stock brokerage firm Bourse Securities on behalf of the banks former chief risk Officer, Phillip Rahaman, is a subject of controversy, with some labeling it as a possible case of insider trading.
A file on the matter is expected to be delivered to the Director of Public Prosecutions.