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An in­ves­ti­ga­tion has be­gun in­to the op­er­a­tions of Phoenix Park Gas Proces­sors Ltd’s (PPG­PL) Unit­ed States sub­sidiaries, trig­ger­ing sus­pen­sions, a res­ig­na­tion, and a widen­ing probe in­to how share­hold­er funds were de­ployed in­to loss-mak­ing ven­tures over sev­er­al years.

That dis­clo­sure came from T&T NGL chair­man (TTNGL) Ger­ald Ramdeen, fol­low­ing a ques­tion posed by Busi­ness Guardian on whether Phoenix Park’s US sub­sidiaries are for sale, at the Hy­att Re­gency on Tues­day.

“There is an ac­tive in­ves­ti­ga­tion go­ing on in­to the op­er­a­tions of the Phoenix Park Unit­ed States sub­sidiaries,” Ramdeen stressed, sig­nalling that the mat­ter has al­ready es­ca­lat­ed be­yond in­ter­nal re­view. Three peo­ple have been the sub­ject of a sus­pen­sion. One per­son has re­signed, and the in­ves­ti­ga­tions at all lev­els are on­go­ing.”