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As a newspaper known for its reliability and fearlessness, Kaieteur News has always striven for highFazil Ramzanstandards. A few months ago,Cheap NFL Jerseys China, there was a story on Fazil Ramzan, the developer, and our available information at that time came from one type of source and one side of the equation which turned out to be anti-Ramzan.Now, we are correcting that by carrying the other side by speaking with Ramzan himself and other knowledgeable persons.Who is Mr. Ramzan? Ramzan is a qualified electrical engineer who did studies both at UG and Waterloo University in Canada. Before he emigrated, he worked at Banks DIH and GPL. In Canada, he worked and practised as an electrical engineer and developer over many years. Then came 1992 and Dr. Jagan’s return to power. He answered Dr. Jagan’s call to Guyanese to return home and help rebuild their country. His extended family who had also done very well in Canada did their best to prevent him from returning, but the call of Guyana was irrepressible and he returned.He wished to use one of the expert skills he had acquired in Canada and decided to become a housing developer. He made arrangements to purchase two estates on East Bank Demerara to begin his development activity. He began with Sarah Johanna where he intended to build houses to meet the pockets of ordinary folk.As is normal in housing developments everywhere, those wishing to purchase houses enter into a contract and pay a deposit. Forty persons duly contracted and paid deposits which ranged from $100,000 to two million dollars.In all, a total of $35 million was deposited and this, together with personal funds several times the quantum of the deposits, were sunk into the project in preparatory and infrastructural work.Lawyers, land surveyors, designer, and around-the-clock security had to be paid. Heavy equipment including excavator, bobcat, bulldozers, cement mixers, ground leveler, generator and lorry had to be bought as well as smaller tools and equipment. Land was cleared, drained, lots measured out and a road built. Six houses were the first done.Then came the dark reality which often plagues so many Guyanese projects. Losses from theft grew; legal and administrative delays became legend; workers slacked and squatters who had occupied a small part of the land and who had been left alone by Ramzan began to try to sabotage the project.As important,Wholesale Jerseys Free Shipping, several of the persons who had made deposits had also been applying for lots the Government was distributing, concealing from the Ministry that they already had landed property. As soon as they were allotted lots, they broke their contracts and demanded their deposits.All the deposits and Ramzan’s other monies had been sunk in the project and though he had great value in land, equipment and other assets,Wholesale Jerseys USA, he did not have ready money. In other words, he did not have liquidity, as business people would say. He therefore could not refund the deposits with the immediacy the depositors were demanding.Ramzan’s business associates advised him to resist in the courts those who had illegally broken their contracts, to inform the Ministry of those who had been granted house-lots on basis of false information, and to invoke the penalty clause in the contracts which allowed the forfeiture of a good percentage of the deposits on breaking the contracts.Ramzan, however, did none of those things to defend his interests but insisted that he would refund everyone in full and always accepted full liability. He took this position because he realised his present difficulties were temporary and that he has to continue to do his business way into the future.Several of the refundees, especially those who had obtained Government lots, went to the police with statements that Ramzan had taken money from them wrongfully. The police instituted charges of false pretence against Ramzan but when the Magistrate reviewed the facts and saw the contracts, she dismissed the charges.A few others brought actions in the bail court and though Ramzan could have defended himself in contract,Cheap Jerseys From China, he consented to judgements since it was his desire and determination to pay back all refunds in full.The paying back has been much slower than Ramzan would have wished since to sell assets such as land or big machines is a slow process. Yet,Cheap Jerseys From China, he has been able to refund some completely and has been making payments to others.Most refundees now understand that they would be paid back completely but they are of course dissatisfied with the time it is taking to pay back. To date,Cheap NFL Jerseys Free Shipping, the total amount of refunds he still owes is $18 million to be paid to 25 persons.Ramzan says that his finances are beginning to improve and he expects to complete all refunds within three to six months.
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