Terrence Smith

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1. Royal Gazette
www.theroyalgazette.com/apps/pbcs.dll/article?AID= - [Cached]
Published on: 3/4/2006   Last Visited: 3/4/2006

Jurors hearing the case of a $1.3 million fraud allegedly perpetrated by former Bermuda Housing Corporation property manager Terrence Smith, yesterday heard claims that policies and procedures at BHC were not followed. They were told by a former senior manager at BHC that concerns raised over invoices rubber-stamped by Smith were apparently disregarded by the general manager, Raymonde Dill.
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Smith initially employed him to make cedar doors for his home in Tee Street, Devonshire, paying him a cash deposit of between $5,000 and $10,000. Next, he claimed, Smith told him that he was a general manager at BHC, and invited him to do all of the carpentry work for the Corporation. However, he claimed that having accepted this, Smith told him to re-write three invoices that he submitted for work in St. George's, meaning he received an overpayment of more than $11,000 from BHC which he kept for Smith.
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Earlier in the day, the court heard from Tudor Smith, who joined BHC as property manager in early 1994 and left in May, 2000, around three months before Terrence Smith's alleged fraud commenced. He explained that Smith was one of three property officers whose work he oversaw. The BHC policy at that time, he said, was for all renovation work to be put out to tender after discussions between the property officer and property manager. Four to six qualified contractors were invited to bid, he said, and the property officer was responsible for checking the work was carried out as it should be by the selected contractor before approving the invoice submitted for payment. He said he relied on the integrity of the property officers working under him to do this, and believed Terrence Smith followed the procedures. However, he added that he would question the officers and carry out his own occasional checks on the contractors' work. Tudor Smith said he left the BHC before what defence counsel Larry Scott termed the Corporation's "public difficulties" arose. Asked his impressions of Terrence Smith were, he replied: "He was very amenable, generous, kind and of the nicest disposition." But he added: "As a person at work I would say he's interested and capable, but that he's always in a rush and has a relatively short attention span.
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Following an internal investigation, Smith, Mr. Dill and finance manager Robert Clifford were suspended.
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Smith accused of ‘monstrous fraud' 03/03/2006

 
2. Royal Gazette
www.theroyalgazette.com/apps/pbcs.dll/article?AID= - [Cached]
Published on: 9/22/2006   Last Visited: 9/23/2006

Photo by David Skinner Emptied: Movers take furniture from Terrence Smith's house as it was repossessed by Capital G.
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Bailiffs have seized convicted fraudster Terrence Smith's luxury home in Tee Street. A team of removal men and a locksmith descended on the Devonshire property around 10 a.m yesterday at the behest of Capital G bank, which mortgaged the home and moved to repossess it yesterday. During Smith's trial for his $1.2 million fraud, the jury heard he renovated the house using public cash he had siphoned from the Bermuda Housing Corporation, where he worked as a property officer. Jurors also heard how Smith made false claims to be an architect at the Corporation and gave inflated salary figures when applying with wife Veronica for Capital G loans totalling $840,000 for Tee Street.
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Terrence Smith was jailed for eight years in May, and Chief Justice Richard Ground subsequently made an order giving Capital G possession of the house in order to recover the mortgage money. He set the sum of $2.5 million as the reserve sale price for the property which boasts three bedrooms plus a separate apartment, a swimming pool and a home movie theatre.

 
3. Royal Gazette
www.theroyalgazette.com/apps/pbcs.dll/article?AID= - [Cached]
Published on: 3/22/2006   Last Visited: 3/22/2006

Jurors hearing the case of Terrence Smith, the former Bermuda Housing Corporation worker accused of a $1.3 million fraud, will look around his luxury home later this week. Chief Justice Richard Ground announced the move yesterday after a request from the jury who want to see the mansion in Tee Street, Devonshire, upon which Smith is alleged to have lavished much of the cash. He explained that although the defendant had the right to veto the tour, he had consented. Former BHC Property Officer Smith is accused of directing $1.3 million of BHC funds to carpenter Steven Barbosa by rubber-stamping overpayments for his work between September 2000 and February 2002.
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Mr. Barbosa is said to have passed $924,668 in profits from this scam back to Smith in the form of cash and luxury goods for his home.
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Giving evidence yesterday, Guy Desilva said that his company Island Wide Construction had been engaged by Smith to work on his 40ft x 20ft swimming pool in February 2001.
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The value of the contract signed was $54,212.50 and other work commissioned by Smith ran up an extra $50,000 to $60,000 bill, said Mr. Desilva.
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John Bento, general manager of Star Motors, said that Smith bought a $50,000 BMW station wagon in British racing green in June 1999.

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