ZNS chairman earned commission on CLICO investment

Read storyFormer chairman of the Broadcasting Corporation of The Bahamas admitted he earned a commission when the corporation invested $800,000 of pension funds in CLICO (Bahamas).

Chairman Calsey Johnson was an executive at CLICO before moving to BCB's board and was still serving as an independent agent at the time of the investment.

Johnson said he did not consider his recommendation a conflict of interest.

BCB's current chairman Michael Moss said in earlier reports he had no idea when or how the pension funds ended up at CLICO.

Moss and union officers want answers about why the money was invested and how much they can expect to get back.

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Full Story in The Nassau Guardian here