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Investment Minister Dr Ernest Hillaire has refuted opposition claims that the Citizenship by Investment Programme (CIP) is rife with scandal.
Hillaire was the featured speaker at the Chamber of Commerce executive luncheon on Monday, where she spoke about issues surrounding CIP and where it is headed.
He also responded to a lawsuit filed by MSR Media Head Philippe Martinez, who earlier this year filed a Racketeer Influenced and Corrupt Organizations Act (RICO) lawsuit against several individuals, including former St. Kitts and Nevis Prime Ministers Timothy Harris and Denzil Douglas, Caribbean Galaxy Real Estate Limited, and the CEO of St. Lucia’s Citizenship by Investment unit, Mc Claude Emmanuel.
In a report, the MSR claimed to have documentary evidence, including audio recordings, to substantiate its allegations of corruption and unfair practices in the CIP department in Saint Lucia.
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“You may have heard the harsh criticism from the Opposition about Saint Lucia not signing the MOU, the continued parade of Philip Martinez and the RICO case he filed, the Opposition joining him in alleging there is a CBI scandal, over $1 billion missing, that we facilitated the underpricing of Galaxy Securities, and that I will soon be named in the RICO case,” Hillaire said.
He added: “Despite repeated accusations from the opposition and Martinez, we have a proud record in managing the CIP. We implemented every recommendation made by our international partners (the United States, the European Union and the United Kingdom). We have not been accused of any failures or operational deficiencies, and the same cannot be said of other countries.”
The minister said the only outstanding recommendation “will be addressed soon and we will announce shortly the name of the international company that will conduct an audit of the department’s operations.”
He said the opposition had criticised the government for not immediately signing the memorandum of understanding signed by other CIP countries, “missing a great opportunity to demonstrate national responsibility”.
“This is a competitive industry, and while we may disagree on approach, we should never show national disunity on fundamental issues, especially when the disagreement is not based on facts but on political convenience. This political opportunism was further demonstrated in Martinez’s RACO case, as Martinez admitted that he received information from the opposition,” Hillaire said.
Allen Chastanet accused Ernest Hilaire of politicizing the meeting at a Chamber of Commerce luncheon and criticized his remarks yesterday in a Facebook Live broadcast.
“The government and the minister have done everything they can to try to convince us that Martinez is a liar, that these are private sector people colluding with each other, and that we shouldn’t be considering all these things. Is that your argument?” Alan Chastanet asked the minister.
Meanwhile, at a luncheon at the Chamber of Commerce, the minister said the opposition must be careful about talking about the CIP scandal.
“We believe that we must always act in a way that puts Saint Lucia and the Saint Lucian people first. We want our country’s reputation to be one that respects the privacy of its laws and commercial agreements. We want the country to have a reputation as a leading jurisdiction for investment and one that respects government decisions. That is why every time we disagree with a decision of the previous government, we state the reasons and propose alternatives,” he said, adding, “While in government, we respectfully engage in private discussions with relevant investors to express our position and seek alignment with our philosophy and approach to development.”
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