Two T&T companies and two individuals operating in Guyana have received a four-year sanctions from the Inter-American Development Bank (IDB) for fraudulent practices.
Scientific and Medical Products Limited (SciMed) and Western Scientific Company Limited have both been declared ineligible to be awarded and participate in any IDB-financed contracts from March 31, 2016 to October 15, 2020.
Mario Ricard Dell and Edwin K Mackoon, both of T&T, were also debarred over fraudulent practices for the same period.
SciMed is a distributor of laboratory and process equipment and exclusively represents a number of leading manufacturers in the United Kingdom. Western Scientific Company is a marketing, sales and distribution firm specialising in the areas of scientific, clinical/medical, furniture, audio-visual, education, technical service and consultancy.
The address for all four sanctioned was stated as Ramsaran Park, Chaguanas
According to information on the IDB's website, the firms and individuals were sanctioned by the IDB Group's Sanctions Committee because they were found to have engaged in "fraudulent practices".
The IDB defined "fraudulent practices" as "any act or omission, including a misrepresentation, that knowingly or recklessly misleads, or attempts to mislead, a party to obtain a financial or other benefit or to avoid an obligation."
The IDB said the findings against the two firms and the two individuals "were made through an administrative process that permitted the accused firms and/or individuals to respond to the allegations pursuant to the Sanctions Procedures."
Sanctions are meant to prevent and deter fraud and corruption in IDB Group-financed activities.
"The Sanctions Committee may impose any sanction that it deems to be appropriate under the circumstances, including but not limited to reprimand, conditions on future contracting and debarment. Debarred firms are declared ineligible to be awarded and participate in any IDB-financed contract for the periods indicated," the IDB said.
"Ineligibility may extend to any firm or individual who directly or indirectly controls the debarred firm or any firm which the debarred firm directly or indirectly controls. In the case of a debarred individual, ineligibility may extend to any firm which the debarred individual directly or indirectly controls," it said..