National

Former DPM Vindicated of Fraud Charges

NASSAU, BAHAMAS – The Supreme Court has cleared accountant Peter Turnquest of fraud but found he breached his fiduciary duty.

Published

2 weeks ago

April 16, 2024

Berthony McDermott

NASSAU, BAHAMAS – The Supreme Court has cleared accountant Peter Turnquest of fraud but found he breached his fiduciary duty.

Supreme Court Justice Carla D. Card-Stubbs ruled that Turnquest breached his fiduciary duty to Alpha Aviation Limited. The company that brought the legal action, failed to prove conspiracy to defraud on the part of Turnquest, Captain Randy Butler and his wife Larona Butler.

Turnquest who later became deputy prime minister and minister of finance under the Minnis administration was manager and director of the company.

The ruling found that Alpha Aviation did not suffer measurable loss as a result of Turnquest’s breach of duty.

As a result, they were not awarded.

In a statement, Turnquest said he is pleased the Supreme Court rejected the claims against him, adding he has emerged victorious against their baseless allegations of conspiracy.

The statement continues, the victory not only vindicates him but also stands as a testament to the enduring power of truth and integrity in the face of adversity.

He said he remains committed to serving his community with honor, transparency, and unwavering dedication.

Alpha Aviation had alleged the trio conspired to defraud it of the outstanding balance owed under a mortgage agreement and that Turnquest breached his fiduciary duty by executing a deed of release about the said mortgage without first securing payment of the money owing under the mortgage.