I also mentioned that on November 25th, 2005, Gale wrote “I act on behalf of PricewaterhouseCoopers …”. PwC’s attorney Barry Gale was also a director of at least two other companies speculating with the real estate of Kingsland Estates Ltd. Here is the Gale letter that I promised:
Note that this letter was sent for the attention of Mr. Philip Atkinson, a PwC auditor who worked on the Kingsland audit! Atkinson was familiar with details of the of the Kingsland audit! I am sure that PwC knew about this conflict of interest.
The Keble Worrell deal originated in 1989, was updated in 1995, and was terminated sometime around 2006 or 2007.
It Gets Worse
Yet another Barbados land speculation company, Southridge Investments Ltd., was incorporated on May 30, 1989. (Company No. 5539)
Registered Office - 15 James St., Bridgetown
Patricia Heather Carter
Barry Louis Valence Gale
Gittens Clyde Turney
Patricia Heather Carter was a sister-in-law of the owner of Staplegrove, the late Lionel Ward. The Staplegrove and Kingsland land deals have a connection. SBG had offered to buy the shares of Kingsland. In addition I am told that it also made an offer for the Staplegrove land, which is now being developed.
Like Keble Worrell, Southridge Investments Ltd. exists mainly on paper. There is not much evidence of their business activities, but Southridge Investments Ltd. bought land rights from Keble Worrell for some 16 acres of Kingsland real estate. Clyde Turney owns Keble Worrell.
Two facts are established here.
- One is that Barry Gale and Clyde Turney speculate in land together.
- Barry Gale (PwC attorney) and Clyde Turney (who also represented the “undisclosed principal” of R.G. Mandeville) were speculating on Kingsland lands back in 1989
According to this file, Keble Worrell was an old Harrisonian who passed away in 2008. What was the association between Keble Worrell and Clyde Turney?
PwC Attorney Barry Gale Was Involved in Another Kingsland Land Speculation Deal
Barry Gale was the attorney for and a director of a company called Kalahari Inc. that bought the Spion Kop and Craigwell properties of Kingsland. These properties comprised less than 0.2% (a fifth of 1%) of Kingsland’s acreage, but were sold for double* what Kingsland director Elneth Kentish recommended for the entire company. Imagine 0.2% selling for more than 100%!
Coincidentally, Elneth Kentish’s R.G. Mandeville was also very much involved involved in the deal! I think they even took the deposit. Clyde Turney’s and Barry Gale’s signatures are both on the conveyance!
Let me see. Shell corporations. Beneficial owners unknown. Secrecy, lack of financial statements. Unadvertised land secretly being sold way below market value. Sellers connected to buyers. The same names cropping up again and again. Sure looks like a conspiracy to me!
Shareholders depend on the external auditors to keep them informed. When the attorney of the external auditor of a company is speculating on that company’s assets, the shareholders should be greatly alarmed.
* The documentation shows that Spion Kop and Craigwell sold for BDS$12 million. I was told by an influential politician that it went for BDS$18 million. I have also been told that someone close to the buyey said that the property was bought for BDS$18 million. Kentish recommended that all of Kingsland be sold for BDS$6 million, with the assumption of a debt of approximately BDS$12 million. I have been told that this debt is not properly documented. Many years ago, I was told (by someone who should know) that the government was going to forgive the debt. Furthermore, the Government of Barbados has expropriated land worth more than the debt of BDS$12 million, and has not paid. See: Barbados Government expropriates Kingsland land but does not pay!This is very interesting. I wonder if the government will try to throttle this article!
Disclaimer: This post expresses the views and opinions of Keltruth Corp. Contrasting opinions are most welcome. I would especially like to hear from Barry Gale, PwC and Clyde Turney.
- I - Kingsland, Turney and Cox: Conspiracy?
- VALUING KINGSLAND: Estate could be worth over ten times the purchase price of $18 million, experts say
- Barbados Shell Corporations without Listed Phone Numbers Negotiate Big Secret Land Deals
- 2006: PwC Fined For Audits of BCCI, “the greatest bank fraud in history”