Facts over fiction

Dear Editor,
Public integrity begins with transparency – and that applies to everyone who occupies the national stage.
I have been somewhat disconnected from politics lately, now catching up as I have been deeply focused on work. My attention was drawn to the recent exposé involving GHK Lall, who at one point described himself as a Wall Street analyst and claimed to have formerly held the prestigious, gold-standard CFA designation. This was during the period when, as some of you may recall, I took him to task by exposing a series of financial and procurement irregularities and mismanagement under his tenure as Chairman of the Guyana Gold Board.
I wrote an essay on this matter, published on September 7, 2023, which can be accessed here for easy reference (https://guyanachronicle.com/2023/09/07/ghk-lall-and-the-guyana-gold-board/).
In summary:
• During GHK Lall’s tenure (2017–2019) as Chairman of the Guyana Gold Board, audits uncovered significant financial and procurement irregularities totalling over $120 million.
• Key findings included sharp increases in administrative spending – up 41 per cent – with directors’ fees rising 551 per cent and “other expenses” ballooning 740 per cent.
• There were unauthorised payroll expenditures, unapproved asset disposals, and sole-sourced contracts lacking proper documentation or tendering.
• Licensing irregularities were found in gold dealer approvals, with inadequate due process or ministerial oversight.
• A controversial $60M contract for a Regulatory Compliance System was deemed by auditors to be excessive, unjustified, and noncompliant with procurement laws.
• Auditors concluded that the Board failed to follow financial procedures, did not receive value for money, and demonstrated poor internal controls under Lall’s leadership – issues not present in prior years.
Regarding his claim to have held the CFA designation, my review found no evidence in the official database supporting Lall’s stated qualifications. I even reached out to an actual CFA holder with access to the historical database, and no results were found. If he does possess evidence to the contrary, given the scrutiny he now faces – rightly so, in the public’s interest – he should have records of his certificates, transcripts, or proof of subscription payments, and should therefore make them public.

Yours sincerely,
Joel Bhagwandin