How I made my millions
I'm no blue eyed boy, says Carlos
Independent Oct 4, 2000
By Maurisa Findlay
CARLOS John is clearly a wealthy man.
Since becoming a government minister in June this year at what he has insisted is a greatly diminished salary, he has acquired a million dollar Royal Castle franchise, completed a million dollar mansion in upscale Moka, for which he issued a $400,000 cheque to have professionally decorated, acquired a brand new Mercedes Benz and purchased two million-dollar La Fontaine condominiums in Westmoorings, among other assets.
But the Junior Works Minister says there is nothing unusual about his apparent sudden fortune. In fact, John described rumours that his seeming economic rise has been aided by his closeness to government as total rubbish.
“I am in government because of my civic mindedness and my belief that the UNC can further develop this country,” he said, adding, “I certainly didn’t get any of this since I have been in office.”
He told the Independent in an interview recently that much of what he has now had been in the making months before he was ever approached by the UNC.
And while John agrees it seems his cup runneth over, he argues that what seems to be sudden good fortune is truly an amalgam of assets acquired through years of hard work, added to the benefits of prudent business decisions.
His Moka residence, he says, had been under construction before he ever considered working with the government.
“That house took 19 months to build.”
His spanking new Benz-PBJ 1- was ordered over a year ago, “long before I was Junior Works Minister.” Saying that he was aware that in some circles his Moka home was referred to as “the Pageant House,” John explained that to build his dream house he sold his Blue Range, Diego Martin home for six times the cost and, “sunk the profits into the Moka house and moved into the Guardian Life Towers,” where he now lives. To acquire his Benz, John admitted he purposely stalled the delivery of the car after the UNC approached him so he could benefit from the tax exemptions government officials are entitled to. He then “passed on my BMW to my wife.” His other assets he explained, are the result of his dedication to his job at CL Financial.
The former executive assistant to C L Financial’s boss Lawrence Duprey, John was among the highest paid employees at the firm where he spent the last 15 years climbing the corporate ladder.
Independent investigations revealed that John’s take home salary on a monthly basis was in excess of $80,000. Following his appointment to the CL Financial Board in April 2000, John’s annual salary was set at $1 million.
His enviable monthly salary thoughout his career at Clico has been a sore point among his peers at the insurance company.
But John, who turns 52 in November, scoffs at his detractors.
“It’s a case of pure envy, he says.
“...I am no blue eyed boy,” he counters, adding, “I put out day and night for Clico....”
Without doubt, John says he is deserving, “of every darn cent,” he earned at Clico. They can talk, but John says he will continue with his affluent livestyle whether he works at Clico.
His comfortable life, he boasts, is his reward for being a highly efficient employee.
“My desk is usually free from the clutter of paper work. I am always in work mode... always hyped, my energies are aplenty.”
When the public looks at him John hopes they see him as a success story. Not as the suave, well-to-do “red man” whose closeness to millionaire Lawrence Duprey has brought him considerable leverage.
“...It’s a straight case of hard work, astute planning, sacrifice and integrity, “ John says, adding that these qualities were what his parents instilled in their eight children.
Describing himself as “a non conformist and one who swims against the tide,” John said he can handle any level of criticism. Gossip about his private live and private business dealing, he says, has been brought to the attention of the Prime Minister.
The Independent understands that Prime Minister Basdeo Panday was sent two confidential notes; one referred to the absence of his wife Glenda and the presence of a close male friend at the many functions John attends, while the other highlighted John’s indebtedness to a financial institution. With a deep sigh, he says, “My back is broad enough to handle the nastiest of mauvais langue, let them continue to mind my business.”
Although hesitant to detail the source of his wealth, John conceded that he owned, “a few companies and had sizeable shareholdings in a number of other firms both on the local and foreign stock market and in the private sector.”
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Carlos’s interests
CARLOS John holds holds quite a diverse financial port folio.
Among the companies on which his name is listed as a registered shareholder/co-owner are two real estate firms, one with his wife Glenda the other with businessman Lawrence Duprey. There is also an investment company and stock interests in several local and foreign companies including recently bought shares in Angostura Limited, and shares in a Royal Castle, Curepe franchise.
“...My wife Glenda and I buy properties, and rent them both commercial and residential. I am in business with Lawrence (Duprey) we own several properties ... I am up early and on the phone with my stockbroker in New York, telling them, buy this, sell that...”
John says, he also received a handsome commission for every deal he worked on at Clico which went a long way in giving him the security he enjoys.
Now that he has accepted a ministerial post, his family, he says, will have to tighten their belts, a bit. But that doesn’t mean he will not continue to travel first class or not be able to purchase his designer label suits and shoes. “I love the good life, a good bottle of wine, fine dinning ...I am proud to live well.”
The monthly $8,000 he receives as a Minister is proof that he is willing to give back to his country in a tangible way; not an indication that he is out to get more.
“If I wanted to do that I would stay in the private sector.”
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