Unprecedented Depravity in a Life Insurance Company

A Disgrace to the Canadian Actuarial Profession

“How Camest Thou in this Pickle, Trinculo?”


WARNING to the Faint of Heart

Alien vs. Predator” 

A Story Within a Story

I suffered a series of unfortunate events that led to financial and professional ruin in the belly of the beasts: the esteemed Canadian Institute of Actuaries (CIA) elites and the CBTT Ho Sing gangster.

I filed a complaint with the CIA concerning the misconduct of CLICO actuary Paul Ngai. The CIA elites deemed me a disgrace to the actuarial profession, an impolite liar whistleblower lacking integrity, and sent me to CIA disciplinary hell as the elites exonerated Ngai and cleansed the fraud (took 3 years to get 100% wrong the EFPA contract, law, and IFRS 4 Standard). The Ho Sing gangster confiscated my savings and made a media hatchet job on me, painting me a scoundrel who looted CLICO. These are vicious, wicked people, thugs and goons, that befell me. 

Ho Sing gangster and CIA elites were pit bulls, in a witch hunt, my side of the story, the truth was blocked. I was a means to an end by the elites wanting the maximum penalty and pressuring me to admit what was not true.

Yes, dear gentle reader, I have an ax to grind. You decide: are these the rants of a mad man or insightful analysis in the public interest? Alas, for me, this has turned into a story of revenge for wounds that will not heal, as there are some things you just don’t do:

You don’t tug on Superman’s cape, you don’t spit into the wind, you don’t pull the mask off that old lone ranger and you don’t mess around with Jim Gene.

Exceptional Actuaries

I survived because the best of the best actuaries saw me through my series of unfortunate events:

  • Pat Johnston and Bryan Sigurdson guided me and my sanity through a CIA nightmare.
  • As a fledgling CEO, I formulated the big picture within which to fit and to operate CLICO in collaboration with my compatriot, Michael Hawkins. Mike gives me too much credit for my contribution. The Canadian model (CIA standards and regulatory MCCSR) was being imposed on me but it violated the nature of the life insurance company and does so dangerously to this day. 

I may have changed the course of history had I been able to restructure CLICO. Duprey was a visionary, operated CLICO as a “capital appreciation” company, just a boy scout compared to Canada’s Big 3 insurers, but CLICO was the wrong vehicle for him to make money from assets, a life insurance company acquiring trophy assets all over the planet with policy premium acquired without a prospectus but with secured promises, not a venture capital pool. Had I been at CLICO, I’d have torn up that audacious MOU.  

As CEO, I had to deal with the CIA’s “Canadian Asset and Liability Method” (CALM) being imposed on me, so I am turning the tables, this genie’s out of the bottle and it is payback time:

CALM has greased the skids for Canadian life insurance companies to operate dangerously in violation of “the public interest,” as creatures morphed into the antithesis of their very nature, their raison d’être; these are not insurance companies but unwittingly Ponzi schemes depending on new money and paying shareholder dividends in a fool’s paradise of massive participating accounts and so much more, pointing to dramatic and perhaps unreachable changes to protect Canadian policyholders, putting the brakes on a Ponzi scheme.
A Series of Unfortunate Events

Upon return to Canada in June 2008 and assurance my policy was protected, Ho Sing gangster entrapped it in April 2009, which led to impoverishment and family in ruins. I was deemed not 3rd party,” even though MOU specified such only in relation to CIB, and an (illegitimate) MOU agreed between GORTT and CLF is irrelevant to contracts between CLICO and its policyholders, and the IA prohibited alteration of a contract.

Alas, I had purchased a grand home at the top of the market before the Sept 2008 financial crisis, primarily on credit. I did business with TD Bank pretty much my whole life and they chased me out of the house like a dog and sold it for half of what I paid.

There was no evidence of wrongdoing, I begged for 12 years for my money and they won’t give it. Suzette Medina’s email of Jan 15, 2019, responding to my begging confirms the iron fist of the goon enforcers: “Good Afternoon Mr. Dziadyk… I just want to reiterate that your matter is continuously escalated and breach of compliance by CLICO officers will result in severe repercussions… We empathize with the suffering faced by you and your family over the last ten (10) years… Have a pleasant afternoon.” So, what the hell do you do?

Ho Sing gangster did a media hatchet job with lies about my policy, defaming me and putting my life at risk, as a scoundrel who looted CLICO, which terrible publicity disqualified me from earning a living as a consulting actuary and carrying that home, and a complaint of my character was made to the CIA, who investigated my signed agreements and reported:

This was… deposit into the EFPA as approved by Mr. Duprey.

Well, thank God. But, the media did not report it and the public still thinks I’m a scoundrel.

Can things get any worse? Well, yes. The actuary, Paul Ngai, is the kingpin, as policy fraud can’t happen without his consent. I confronted Ngai, the jig is up, as he was shifting around his opinion wording from year to year, and asked him, in accordance with the CIA Rules of Practice (Rules), to rectify his work, as he was in brazen violation of the IA, International Financial Reporting Standards (IFRS) and the CIA Rules. He came clean, spilled his guts but won’t rectify “his” work, covering for the Ho Sing gangster, the de facto actuary, so I filed a complaint with CIA elites: he’s cooking the bloody books!!!

Instead of 3 minutes, elites took 3 years to exonerate him:

  • Got 100% wrong the EFPA contract, the law, and the IFRS 4 Standard,
  • Agreed fraudulent actuarial accounting confers rights to derogate EFPA policy benefits, 
  • Called me and 15,000 Trinidadians liars, and since,
  • Has doubled and tripled down, aiding and abetting this criminal regime.

Alas, CLICO hasn’t skipped a beat, thanks to the CIA, has world-famous Canadian actuarial consulting firm, OW, with its Ngai “Mini-Me” Simone Brathwaite in the kitchen, craftier than Ngai, and she’s a bald-faced, shameless liar, took Ngai’s lies up a notch, lies to “EFPA” like they’re stupid: don’t believe your lying eyes as she provides “Actuarial Certification of Short-Term EFPA Investment Contracts” that do not exist

OW styles itself consultant to the world, “Hey, OW is my name, insurance is my game, and you don’t mess with me in the kitchen.” Yes, OW is a highly specialized short-order cook, but lookie here, this time a prestigious world-class cook, easily worth the extra bucks. What’s in a name? Well, a kid who can sign his/her name to be the front for Ho Sing gangster may cost a Happy Meal. 

OW makes my blood boil, cooking books set up, and keeps up a roadblock to my money.

 I warned Mini-Me, the jig’s up, when she certified the 2019 financial statement, and she along with the CIA has doubled down and certified the 2020 statement. 

Can things get worse? Well, a lot worse. Desperate for my money in CLICO, and tiring of waiting for 3 years for the CIA to deal with my complaint when it should have taken 3 minutes (see Prologue), I returned to whistleblowing on the fraud going on at CLICO.

The CIA declared on 7 counts that I’m a disgrace to the profession, in violation of the public interest along with “false or misleading” and railroaded me into a disciplinary torture chamber, spent a record $400,000 going to town on me for impolite whistleblowing, as I was being looted, despite that no one filed a complaint and elites did not provide a scintilla of evidence I was a liar or I harmed the public or I harmed the CIA, but they took me out of this game (liar, liar, pants on fire), running interference on my trying to get justice for policyholders for 5 years. 

Can it get much worse? I was a totally discredited actuary, the worst of the worst.

In a faint light of hope, elites withdrew the liar charge on learning my expert witnesses, Neville Henderson and Michael Hawkins, but let it linger in the public arena for a year.

Can it get worst than that? Yes, it can. The disciplinary tribunal ruled that just because elites are not charging me with being a liar does not mean that I’m not a despicable liar:

“Dziadyk engaged in unjustifiable, improper criticism… did not identify anything to validate any claims…  against Ngai…  no creditable evidence… untruthful remarks [of] KPMG consenting to “fraudulent IFRS accounting” did not serve the best interest of the public… his response to all who would not accept what he regards as accepted fact rather than at best, unproven allegations, is to question motivationsdiscourteous and disrespectful language… reflects adversely on the CIADzaidyk (sic) did not act with integrity… to fulfill the CIA’s responsibilities to the publicDziadyk was found guilty on six counts [4 Rule 1 and 2 Rule 8] … At no time did [he] admit guilt on any of the charges…  continues to maintain the validity of his actions… nor did he exhibit any remorse for the injury he caused.”

Surely it can’t get worse? I wasn’t fudging numbers, like Ngai who got off scot-free. Well, there’s only one other CIA member found guilty without violating a Standard of Practice, and that’s a convicted child molester, just a piker compared to me, as elites wanted, along with a fine of $25,000, 100% of costs, and a 36-month suspension for each count and a battle of titans broke out, Ho Sing gangster vs. CIA punishers, to obliterate me, “Alien vs. Predator” for first dibs to my carcass.

I claimed elites were acting in bad faith and they all laughed at me. And by the way, elites ran roughshod over the disciplinary process specified in the By-laws. So how does one live with that stain on his character, showing up in public and trying to make a living? Instead of protecting me, the elites were bent on punishing and destroying me. The full horror is in the book.

My story reaffirms the old adage, no good deed goes unpunished,” as I was sacked for standing steadfast on the needed restructuring of CLICO, and then again as a director and then punished for whistleblowing in the public interest; it’s equivalent to stepping out into the street to try to prevent an accident and getting flattened by a truck driven by actuaries.

Please leave a comment with impressions and suggestions. I can be reached at geneD@avenueDconsulting.ca

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