WILLEMSTAD - Minister Ruisandro Cijntje of the Economy is under intense scrutiny following the departure of three out of four members of the Aqualectra Supervisory Board. As the majority shareholder of the water and electricity company, concerns are raised about his allegedly inadequate response to signs of issues within the company's management.
The Supervisory Board appears to have tried to bring serious matters within the company, such as potential financial irregularities and a lack of operational transparency, to the minister's attention.
This is of particular significance given the role of the Supervisory Board, responsible for overseeing the company's management and acting as a vital control mechanism to ensure the company operates in the best interests of all stakeholders, including shareholders.
Concerns Over Irregularities
A recent report from Forensic Caribbean has highlighted possible criminal activities involving Darick Jonis, the former CEO of Aqualectra. The report alleges that Jonis repeatedly exceeded his power of attorney, which authorizes someone to act on behalf of a company, including signing contracts. While Jonis had approval for decisions up to one million guilders, the report suggests he went significantly beyond this limit.
In one instance, Jonis allegedly signed three contracts with NuCapital and Koraal Tabak Windparken, totaling over ten million dollars, without the knowledge or authorization of other key board members. The report indicates these actions were not discussed with the Supervisory Board, raising concerns about the lack of permission for such transactions.
The report also points out 'unusual provisions' in the contracts and suggests potential inappropriate agreements with third parties. Alleged serious negligence in the procurement of large transformers, where Jonis supposedly exceeded his authority again, is another area of concern.
Former Supervisory Board members Karel van Haren, Austin Martina, and Patrick Aberson note that these findings indicate a severe neglect of management and may suggest financial fraud and forgery. The report also accuses Jonis of 'deliberate withholding of information,' which hints at deceiving the supervisory board and other board members.
Minister's Role in Question
Minister Cijntje's apparent reluctance or negligence to intervene or respond adequately to this information raises questions about his fulfillment of responsibilities as the majority shareholder.
This scrutiny prompts questions about the effectiveness of oversight and governance within the company, suggesting a potential lack of adequate control and accountability within Aqualectra, which might have allowed the alleged violations by the former CEO.
In a press release, Cijntje strongly rebuts these claims, labeling the departure of the three Supervisory Board members as 'irresponsible' and 'cowardly.' He contends that they share responsibility for the misconduct at Aqualectra.
Cijntje denies allegations that he failed to respond to reports from the Supervisory Board and emphasizes that he consistently sought contact. The minister underscores his push for an investigation at Aqualectra, particularly after consecutive power outages last year.
Referring to a prior investigation revealing issues with Aqualectra's maintenance of installations, Cijntje suggests this laid the groundwork for the recent 'devastating forensic investigation report.' He asserts that the Supervisory Board members remain jointly responsible and liable for the identified misconduct that occurred under their supervision.
Cijntje highlights the Supervisory Board members' purported inability to provide a satisfactory answer to his questions about the backlog in maintaining Aqualectra installations. He dismisses the allegations in the dismissal letter as a misrepresentation and as 'low.'