WILLEMSTAD – The Court of First Instance in Curaçao has ruled that former Central Bank of Curaçao and St. Maarten (CBCS) President Emsley Tromp and ex-director Jerrald ‘Jerry’ Hasselmeyer must repay significant sums to the bank for funds they allocated to themselves and others during their tenure.
The case, brought forward by the CBCS, involved questionable payments, including legal fees, bonuses related to the Girobank emergency plan, year-end benefit increases, and personal expenses.
Breakdown of the Court’s Ruling
Emsley Tromp has been ordered to repay CBCS a total of over 2 million guilders, covering:
- Girobank bonuses for Hasselmeyer: 203,463 ANG
- Excessive personal bonuses and payments: 1,162,979.84 ANG
- Overpaid one-time allowance: 30,036 ANG
- Legal and tax advisory fees covered by CBCS: 177,437.50 ANG
- Utility bills (Aqualectra) paid on his behalf: 310,103.19 ANG
- Solar panel installation costs for his residence: 300,870.82 ANG
- He must also cover CBCS’s legal expenses of approximately 18,000 ANG.
- Jerry Hasselmeyer has been ordered to repay 380,900.62 ANG, including:
- Legal and tax advisory fees for Tromp: 177,437.50 ANG
- Girobank-related bonuses: 203,463.62 ANG
- Additional court costs of around 16,000 ANG.
- Legal Consequences and Repayment Terms
The court ruled that both Tromp and Hasselmeyer must pay the amounts with statutory interest dating back to 2020 and 2019, respectively. The ruling is immediately enforceable, meaning CBCS can take action to recover the funds even if an appeal is filed.
This verdict marks a significant step in holding former financial leaders accountable for their management decisions and reinforces transparency within Curaçao’s financial institutions.
Source: Curacao Chronicle https://www.curacaochronicle.com/post/main/former-central-bank-executives-ordered-to-repay-misallocated-funds/
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