The Central Bank of Trinidad and Tobago has filed a High Court lawsuit seeking to recover nearly $18.8 million in connection with what it alleges was a sophisticated fraud involving a forged government cheque.
The legal action, filed on June 10, names NiPat General Contractors Limited, its managing director Nigel Patterson Vincent, and director Jackqui Watson-Vincent as defendants, the Trinidad Express reported on Sunday.
According to the newspaper report, the Central Bank is alleging that the company received funds from a cheque that was never issued by the Government and that large portions of the money were quickly disbursed before the alleged fraud was detected.
The case centres on a cheque purportedly issued by the then Ministry of Planning and Development and deposited on September 29, 2023 at Republic Bank’s San Juan branch into NiPat’s account.
The cheque, reportedly for $20 million, was later processed through the Electronic Cheque Clearing System after being re-presented following an initial query regarding an endorsement irregularity.
The Central Bank alleges that it only discovered on October 26, 2023 that the instrument was fraudulent, after officials from the Treasury Division of the Ministry of Finance confirmed that no such cheque had been issued and that no payment was owed to NiPat.
Court documents state that between October 5 and October 25, 2023, NiPat issued 66 cheques and transferred approximately $18.77 million out of its account, including payments to companies, individuals and the company’s own directors.
Among the transactions cited were $10 million to Naissal Construction and Maintenance Services Limited, $2.5 million to R and D Holdings Limited, $410,348 to Nigel Vincent, and $170,000 to Jackqui Watson-Vincent.
The Central Bank says that when the matter was flagged to Republic Bank on October 26, 2023, the account was frozen, but only $1.23 million remained. That amount was recovered, leaving a net alleged loss of $18,766,837.24.
The Trinidad Express reported that Auditor General Jaiwantie Ramdass had previously red-flagged the matter in a January 23, 2026 letter to the Central Bank Governor, identifying two allegedly fraudulent cheques of $20 million and $25 million. The lawsuit is in connection with the $20 million cheque only.
The Auditor General’s concerns followed broader scrutiny of the Central Bank’s audit arrangements, which were later reversed under current Governor Larry Howai, allowing full access to records.
The Central Bank is being represented by former attorney general Anand Ramlogan of Freedom Law Chambers and is seeking damages for fraud, deceit, unjust enrichment, conspiracy, breach of trust and related claims. (CMC)
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