Fri Sep 13 01:36:00 UTC 2024: ## SporTT Negligence Trial Continues: Expert Witness Casts Doubt on Company’s Finances
**Port of Spain, Trinidad and Tobago:** The multi-million dollar negligence lawsuit against the former CEO and board members of the Sport Company of Trinidad and Tobago (SporTT) continued yesterday with the testimony of Dwayne Rodriguez-Seijas, an accounting expert from PriceWaterhouseCoopers. Rodriguez-Seijas prepared a report analyzing SporTT’s financial statements from 2007 to 2015, focusing on the controversial $34 million LifeSport program contract.
During cross-examination, Rodriguez-Seijas admitted that SporTT was not a for-profit company and had never declared a profit or loss within the examined period. He stated that SporTT relied heavily on government grants and project funding. However, he couldn’t definitively clarify how the funds were used, particularly regarding the $17 million payments made under the LifeSport program.
The expert highlighted that SporTT’s financial statements provided limited information regarding those payments and he did not have access to all supporting documents or interviews with the company’s management. He stated that such information could have led to a more comprehensive conclusion.
The lawsuit revolves around the allegations that the former CEO, John Mollenthiel, and the 13 former board members acted negligently and breached their fiduciary duties by authorizing the $34 million contract to eBeam Interact Ltd without proper board approval. SporTT claims that eBeam failed to deliver the promised services, aimed at assisting unemployed young men with sports training and job placement.
The company is seeking to hold the defendants liable for entering into the contract and demanding repayment of the funds. The trial is set to continue today with testimony from three of the defendants.
First Piper 