The manager of British American lacked faith in the company herself, which is why she chose to keep her health insurance elsewhere and didn’t personally invest any of HER hard-earned cash in the company-i.e. she didn’t buy any of their policies! If the manager didn’t have faith in the very company she was running, that should tell the rest of us a lot! If nobody believes it, I suggest the Press just ask her-it’s true!

Anyway, the first batch of staff made redundant are seeking legal action over how this drawn-out affair was handled. The staff who stayed were put at a mass advantage over us including being employed for two years and receiving bonuses-a fact that Stephen Lowe never denied! We would like to know how these people were selected to stay, including a temp. worker and two employees who had passed British American’s own MANDATORY retirement age.

Also, for any KPMG/BMA/ROC people reading this, remember the correspondence we gave you-these ‘retired’ staff are NOT due to be paid any severance packages. If it is discovered that they have been paid this benefit to which they are not entitled-money that could be going to policyholders-there is going to be trouble. We WILL be asking the Ombudsman to look into this-you have been notified of the facts concerning retired employees and the fact that they are NOT entitled to severance so you cannot claim that you do not know. If they get paid a severance package, it WILL come back to bite you.

Know why not, people? Because he has no proper response-it’s all true! Furthermore, the act of Argus taking over the policies was concluded way back in December of 2009 so he can’t use that as an excuse for what was taking so long.

I can’t say too much because I know how things go in this country (just ask Leoni Junos)but this is just the tip of the iceberg, Mr. Lowe-trust me. If all goes well there WILL be an investigation into what happened here and how this whole fiasco was mishandled from the start.

Lowe calls Wenda Krupp a ‘consultant.’ Well, maybe that is the title KPMG decided to give her, but she was the manager of British American for the last seven years. He’s trying to make it look like she’s someone who just came on board which is not the case. Everything in the handout was TRUE and Mr. Lowe knows it.

The liquidators deliberately chose just before Christmas to hand out the cheques because they know people will be so desperate for cash at this time of year that they’ll happily accept whatever pittance is given to them gratefully and with minimal fuss-just more evidence of how they are manipulating policyholders. They didn’t count on the expose handouts being given out. If the allegations were so frivolous, Mr. Lowe wouldn’t even bother responding. He responded because he knows they are serious allegations and all true! Again, there is more where that came from so I hope he’s prepared with something besides a generic, wishy-washy response next time.

All that means is that policyholders get the short end of the stick as KPMG crank up the fees and drag it out as long as they can. You try to do the right thing by insuring and investing for your future and all that happens here is that they pull the rug from under you when you need it most. Typical.

Wonder how much of a bonus Mr. Lowe got this year???

Remember Televest, right here in Bermuda? Depositors did not get much back on the dollar there either. Has anyone looked at what their house is worth today vs say 5 years ago? How many are upside down in their mortgages.

The biggest one of all of course our debt, which is still climbing & will hit $2B before you know it. Each & every one of us owes something like $20,000 on that, all thanks to the PLP.

1.) Why did policy holders not receive ALL that they put in?
2.) Why hire such an expensive firm to handle the liquidation? (KPMG are the only ones that seem to be benefiting at this point)
3.) Why are bonuses being paid when that money can go towards policy holder claims
4.) Was the amount of money stolen ever recovered? If not why as this to could have went towards policy holders
5.) Why weren’t receprients of matured policies notified if the person who had the policy is now deceased?
6.) Why were staff told what to say (scripted)? Why were the cleaners not allowed in at night and staff had to work in dirty areas with dirty bathrooms?

That is JUST A FEW of the things that are in the document and for Mr. Lewes to take the COWARDS way out and not respond is not acceptable…To Mr. Lewes I would like to ask if everything was on the up and up and there was no wrong doing why was there a concern that pilicy holders would break down the doors at KPMG thus the doors of the uilding would be barricaded at night with office furniture?
The truth will eventually come out………