The High Court has ruled in favour of ANSA Bank in its lawsuit to recover $30 million from six former employees, five used car dealers and one client.
The judgment was handed down by Justice Frank Seepersad on Thursday.
A release from the company notes that it believes the judgment represents a victory not only for ANSA Bank but also for Trinidad and Tobago, as the court has confirmed that fraudulent acts and related conspiracy will be brought to justice.
The bank says it has developed systems guided by international best practice, aimed at strengthening its internal controls and oversight mechanisms to be robust and resilient.
In making his judgment, Justice Seepersad further directed that the decision be sent to the Minister of Trade, Industry and Tourism for review to see if the dealerships involved in the case should be allowed to keep their operating licences.