GOVERNMENT Senator Dr Patrick Watson has described the collapse of Clico as an "elaborate Ponzi scheme".
Watson made the comment today as he addressed stakeholders at a post-budget forum held at the Port of Spain office of the Caribbean Money Market Brokers (CMMB).
Watson said arrests are imminent.
 

National Security Minister Brigadier John Sandy and a team of Cabinet Ministers are to meet with Professor Ramesh Deosaran the acting President of the University of Trinidad and Tobago (UTT) today.
The meeting is aimed at developing a partnership with UTT and the Government in an attempt to build crime fighting policies and reducing crime, school violence and lawlessness.
 

The People’s National Movement will be holding a public meeting in Belmont tomorrow to address the 2010/2011 budget.
Opposition Leader Dr Keith Rowley is expected to deliver the feature address.
The response to the budget by Opposition Leader Dr Keith Rowley is scheduled to start at 10 a.m. tomorrow.