Saturday September 29th, 2007
http://www.guardian.co.tt/business1.html

The Telecommunications Authority of T&T (TATT) has filed charges against
Laqtel Ltd, the cash-strapped telecommunications company formed by
businessman Joe Laquis, for failure to post a $4 million performance
bond with TATT.

Laqtel is expected to appear in the Port-of-Spain Magistrates Court on
Monday to answer the charges.

If found guilty, the company could be fined $250,000 and sentenced to
five years imprisonment. The section under which the charge was laid
also provides for a further fine of $10,000 a day for each day the
offence continues after conviction.

Laqtel was required to post the bond under the terms of a concession
granted to it by TATT for the operation of a public domestic mobile
telecommunications network and public domestic mobile telecommunications
services. The bond was to guarantee that Laqtel lived up to the
obligations of the concession.

The concession was awarded on December 31, 2005 and the bond should have
been posted by January 14, 2006.

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http://www.guardian.co.tt/business1.html