Fri | Dec 4, 2020

No reduction in our overall financial position, says Phillips

Published:Monday | October 19, 2020 | 7:30 AM

Sandra Phillips, the wife of the Opposition Leader Dr Peter Phillips, has said that an institution had reported Jamaican-dollar figures for securities, resulting in the latest Integrity Commission statutory declaration report on her family showing a drastic reduction in the United States-dollar-denominated assets.

Phillips’ US-dollar securities now stand at US$95,359.31, as reported by the Integrity Commission. It is US$406,542.18 less than the value that was reported for the period ending December 2018.

But in a response to a Sunday Gleaner story yesterday, Phillips said that the US-dollar-denominated securities figure is offset by the corresponding increase in the Jamaican dollar-denominated securities.

Some $84.8 million in securities was reported by the Integrity Commission. At the end of December in 2018, the Integrity Commission reported that $26,385,315.83 was held in securities by the Phillips family.

“The Integrity Commission’s published summaries do not show a reduction from 2018 in our overall financial position for the year ended 2019,” Phillips said.