Trinidad Police Probe Death of Prominent Businessman Yip Choy

PORT OF SPAIN, Trinidad – Police are investigating the circumstances that led to the death of a prominent businessman, Yip Choy, 70, whose body was found Monday in the carpark at Harbour View Apartments in Westmoorings.

Yip Choy (File Photo)The body was found by the manager of the property, who reportedly heard two gunshots and went to investigate. Choy, a former president of the Trinidad and Tobago Manufacturers’ Association (TTMA) was found with his licensed firearm in his hand.

Choy began his career in 1976 as managing director of Sweetheart Cakes Ltd., later renamed as Kiss Baking Company Ltd. He was a former senior official of several companies here, including being the chief executive officer of Angostura Holdings Ltd  in the aftermath of the 2009 collapse of CL Financial Ltd and was credited with playing a key role in its turnaround.

His tenure ended in 2011 following a dispute over performance-based compensation, including a bonus tied to the company’s financial results. Choy maintained that the payment, estimated at about TT$20 million (One TT dollar=US$0.16 cents)was justified based on the company’s performance.

The dispute led to legal action, culminating in a High Court ruling in his favour.

In a later judgment delivered by Justice James Aboud, Choy was awarded TT$28 million in compensation after a protracted legal battle with Angostura.