Sun | Jan 29, 2023

Floyd Grindley not a signatory on company's bank account – Petrojam

Published:Thursday | December 1, 2022 | 4:53 PM
The offices of the state-owned oil refinery Petrojam on Marcus Garvey Drive in Kingston. - File photo.

The state-owned oil refinery Petrojam says it is not aware of claims that former General Manager Floyd Grindley still has access to a bank account belonging to the company.

Grindley and former Petrojam chairman Dr Perceval Bahado-Singh are being tried on fraud charges in relation to overseas travel allowances amounting to US$73,620.

In the Kingston and St Andrew Parish Court on Wednesday, Grindley's attorney King's Counsel K.D. Knight suggested that he remains a signatory on the company's bank account and, up to last month, was still able to check the account which had in it more than US$19 million.

Knight made the suggestion during his cross-examination of Petrojam's chief financial officer, Delroy Brown, who denied that Grindley was still a signatory.

Brown testified that while it was the financial treasurer's duty to ensure that Grindley's access was lifted, he said that the ultimate responsibility lay with the company's general manager.

In a statement this afternoon, Petrojam dismissed that Grindley remains a signatory.

It explained that in May 2019, the company advised its financial institution of the authorised signatories to the account as follows:

· General Manager

· Manager, Logistics and Marketing

· Manager, Refinery Production

· Financial Treasurer and Budget Planner

· Chief Accountant

According to Petrojam, the bank was advised in said correspondence that it superseded any previous authorisations sent.

It says in May 2021 it established online access to the account, for viewing and printing only, by the following post holders:

· Cost Accountant.

· Financial Treasurer and Budget Planner.

· Accounting Officer - Banking and Investment.

· Chief Financial Officer.

Petrojam says this online access does not facilitate any transaction.

“We wish to note that all our banking transactions require two authorised signatories.”

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