Minister scotches HSBC rumours

Environment Minister Walter Roban this afternoon scotched rumours that he is professionally or personally linked to HSBC.

In a statement this afteroon, Mr Roban said: “The allegations, made in the public domain this week, were in the context that Minister Roban would benefit through this link from the passing of the Special Development Order for Tucker's Point in that it would prevent the hotel from going into receivership.

“The allegations went on to claim that this would ultimately allow HSBC, who hold the mortgage for the Tucker's Point Club, to get a repayment on the loan, which was issued to the Tucker's Point Club.”

Mr Roban said he terminated his employment with HSBC in December 2010. Previous to that, from August 2009 to December 2010, he said he took a temporary leave of absence to fulfill his Ministerial duties, during which time he was not on company payroll.

The statement added: “In response to further allegations, Minister Roban confirmed that as an employee of HSBC he was not involved in discussions about how Tucker's Point Club could find a way to pay back its loan to HSBC. Nor did HSBC at any time present him with a plan to build private residences at Tucker's Point Club and never was he involved in drafting such a plan.

“Minister Roban added that he has never had shareholdings in Bank of Bermuda or HSBC and that rumors saying the contrary are incorrect.”

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Published Feb 16, 2011 at 3:10 pm (Updated Feb 16, 2011 at 3:14 pm)

Minister scotches HSBC rumours

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