Steve Ferguson and Ishwar Galbaransingh have lost their extradition appeal before the Appeal Court. Galbaransingh and Ferguson have been indicted in the United States on 84 charges of bid-rigging, money laundering, conspiracy to commit wire fraud, conspiracy to defraud and wire fraud, arising from the Piarco Airport development project.
These charges were laid by a United States grand jury on November 29, 2005. Both men have been battling extradition ever since on a number of claims including that the charges overlap similar charges in Trinidad and Tobago. Appeal Court judge Margot Warner, rejected those claims in a 32 page judgement handed down.Galbaransingh and Ferguson will now appear before Sherman McNicolls in the new year to proceed with extradition. The Appeal Court also rejected claims of biasness by the Attorney General in seeking out the extradition of the two men.
Six foreign nationals have already plead guilty and have been sentenced in the United States for defrauding the government of Trinidad and Tobago. They have also agreed to repay the money, most of which will stay in the United States.
It is also understood that in October of this year, Corethra AG, which is incidentally owned by Steve Ferguson was ordered to pay US$1.3 million to the Government of Trinidad and Tobago by a Liechtenstein court. This was connected to money laundering. It was alleged that the sum was transferred by Ferguson from an offshore bank account in the Bahamas to a bank in Liechtenstein.
Trinidad and Tobago also claim that Ferguson, Ishwar Galbaransingh, Raul Guiterrez Jr and Birk Hillman Consultancy Inc and other conspired to manipulate the bid process for the expansion of the Piarco Airport terminal.
At the Liechtenstein court, the Government argued that Ferguson and Galbaransingh established bank accounts in the Bahamas to launder the proceeds of criminal activities.
