ALMOST a decade ago, Sir Anthony Colman recommended that the Director of Public Prosecutions take 'immediate steps' to determine whether criminal proceedings should be initiated against Lawrence Duprey, Andre Monteil, Gita Sakal and Michael Carballo, over allegations that they conspired to defraud policyholders of Colonial Life Insurance Company (Trinidad) Ltd.

Duprey was the former chairman of CLICO, while Monteil, Sakal, and Carballo formed part of his executive team.

Colman made the recommendations in his report arising from the Commission of Enquiry into the failure of CL Financial and several related entities, including Colonial Life Insurance Company (Trinidad) Ltd, CLICO Investment Bank Ltd, British American Insurance Company (Trinidad) Ltd, Caribbean Money Market Brokers Ltd, and the Hindu Credit Union Co-operative Society Ltd.