As projected by the Government two weeks ago, the State has been awarded almost $1 billion (TT) by the Miami courts in Government’s successful Piarco civil asset forfeiture case.
This was confirmed in the final judgment now issued in the Miami-Dade circuit court by Judge Reemberto Diaz.
The defendants in the matter–businessman Steve Ferguson, former minister Brian Kuei Tung and US businessman Raul Gutierrez Jr who lost the case in March have to pay the State US$132.5M (TT$900M). But they are appealing the matter.
The State had alleged that Ferguson, Kuei Tung, and Gutierrez had conspired with others to corrupt the bidding process on two construction packages, as well as the maintenance contract for the Piarco International Airport. Gutierrez was the former principal of Calmaquip Engineering Corporation, which provided specialised equipment at the airport
The matter had taken 19 years since it was first started in 2004 by the Patrick Manning People’s National Movement (PNM) administration.
The court had already found that Kuei Tung and Gutierrez were liable. In the outcome on March 29, a Florida jury found “clear and convincing evidence” that Ferguson had violated Florida’s racketeering statutes, and was also liable for fraud and conspiracy to commit fraud. The jury found Ferguson liable for multiple claims arising from fraud perpetrated in connection with the redevelopment of the Piarco Airport in the late 1990s and early 2000s.
Steve Ferguson
The jury concluded that all three were liable for US$32,385,988 in damages suffered by T&T and granted the racketeering claims made by the State of T&T . This trebled the damages awarded to T&T. It was projected then that the final judgment would have been “in excess of US$100m (TT$700M).”
At the time, Ferguson reportedly said he intended to appeal the decision, claiming several elements of the case were “prejudicial”. He accused Government’s representative Faris Al-Rawi of entering false statements during the trial.
Government officials subsequently projected the final judgment would have been completed by settling pre-verdict interest over the 19 years that the case took to complete, plus costs—which they said could bring the final figure close to TT$1B.
In the final judgment now issued by the court, it was indicated (US)$97.1M constituted the trebled damages figure regarding the jury’s verdict of the (US)$32.3M in damages for which the three defendants were liable.
Diaz also added pre-judgment interest:(US)$38.9M. This was minus (US)$3.5M which constitutes a set-off from paid settlements and restitution to the State. The final total judgment was (US)$132.4M.
Diaz stated the final court judgment amount will continue to bear interest at the legal rate of interest beginning on the day following the final judgment “through and including the date on which,” the three defendants satisfy the final judgment amount.
He instructed that the three should each complete–under oath–a Florida Civil procedure form and serve this on the state’s judgment creditors within 45 days from the final judgment’s date.
The court is also entitled to enter further order of judgment on awarding attorney’s fees and costs as the State may be entitled to, according to any motion the Government may file.
The trio is understood to have filed an appeal against the judgment. Calls to Ferguson and Kuei Tung received no reply yesterday.
The Government’s US attorney White and Case had filed a motion for the final judgment to be heard later this month. Al-Rawi had said the State had intended to go after the fruits of the judgment awarded to T&T and the matter was projected to be a very significant amount.”