An Audit into the operations of Property Holdings Inc. (PHI) has revealed an unhealthy practice where the entity would award properties to the second and third highest bidders. This is usually the case when the first and second highest bidder withdrew.

PHI used to be controlled by Winston Brassington who was also Director/Chairman for about 13 other companies. Auditor Charles Sugrim has “strongly recommended” that PHI cease this sort of practice that was condoned under Brassington. Surgrim reported, “PHI did not consider re-tendering of properties when the highest bidder withdrew. In some cases there were prior bids for the same property at a higher price.”(Kaieteurnews.com/photo: Kaieteurnews.com)…[+]