If you follow the news of the European Union's issues with Citizenship by Investment programs of its members, you know that EU Minister of Justice Vera Jourova has scheduled a visit to Malta, to discuss, primarily, what has been referred to as "money laundering issues." Malta faces a sanctions procedure, due to its unexplained delay in adopting new EU rules on money laundering. The EC Vice President, Frans Timmermans, speaking on the matter, stated that CIP passports may only be issued to individuals who have a "demonstrable link" to an EC country. This principle should apply to all CIP programs, including those outside the European Union.
Additionally, unresolved issues there concerning the CIP program, illicit payments allegedly made to government officials in connection with its operation, and their appearance in the Panama Papers, all are being ignored by government, leading to the presumption that money laundering arising out of illegal payments by CIP consultancies, has occurred, and is being artfully covered up.
ANTIGUA & BARBUDA ORIGINAL FLAG
Taking the EU actions as guidelines, whistleblowers* concerned about the rampant corruption, mismanagement and negligence, surrounding the CIP programs in certain East Caribbean jurisdictions**, are quietly taking action by seeking the active involvement, and investigative action, by Caribbean regional associations, groups, and organizations, of which Antigua & Barbuda, Dominica, and St Kitts & Nevis are members. Those agencies include, but are not limited to, CFATF, CARICOM, The East Caribbean Central Bank, and the OECS.
* including one individual who was formerly the principal adviser to the president of an EU agency.
**The United Kingdom recently announced that it would be posting High Commissioners to certain East Caribbean States, including Antigua.
Chronicles of Monte Friesner - Financial Crime Analyst
Contributed by Kenneth Rijock - Financial Crime Consultant