IMC takes back GPSU credit union

As the tussle over present and past management at the Guyana Public Service Co-operative Credit Union Limited (GPSCCUL) continues, the High Court in an order has re-instated the Government-installed Interim Management Committee (IMC) at the body.
This new move comes after High Court Judge Gino Persaud discharged a previous interim order – which was granted to the old management – to have a stay in the decisions of the IMC until the matter was resolved.
The new order therefore means the Government-installed Chief Co-operative Development Officer and Commissioner, Perlina Gifth, is back in charge of the co-op. Guyana Times understands the Police were present to accompany the new management as they took control on Wednesday at the body’s Hadfield Street, Georgetown headquarters.
The issues stem from allegations on financial improprieties where officials were accused of excessive spending for bonuses and travel, tuned the sum of $32 million. Some even alleged that a senior official at the Guyana Public Service Union (GSPS) paid out some $700,000 in bonuses to himself.
The shareholders during their picket earlier this week said the evidence has been passed on to the relevant authorities, as the multimillion-dollar probe gets underway. They called for greater transparency at the body as one member even claimed that he received no dividends for the five for which he contributed to the credit union.
In late May, then Chairman of the GPSCCUL, Patricia Went vented her frustrations when it was revealed that Government installed the interim committee. She explained that the matter was rooted in the demand by the Department of Cooperatives for an undue payment to the Audit and Supervision Fund for years 2002-2013 of an alleged balance of over $49 million.
However, according to another member, Jermain Hermanstyne, documents were allegedly removed from the office before the interim committee first took office.
He had vowed to continue to advocate for transparency at the Union. Guyana Times was provided with a list of eight names of persons, which the picketers say are part of the alleged financial improprieties. At one point, the doors on the credit union’s building were locked as several documents were retained for assessment.