A number of the ministers in the cabinet of St Kitts & Nevis have been overheard expressing their serious concerns for transparency, regarding the lack of disclosure of the precise amount of funding received from the CIU [CBI] program. A number of the CBI programs operated in the East Caribbean States have admitted that only a small percentage of the funds paid by applicants actually end up in government treasury accounts, and therefore the Kittitian ministers are now asking hard questions about precisely how much money is being received, in light of the fact that there are funds missing in other CBI jurisdictions.
The matter is further complicated by the fact that there is reportedly an illicit romantic relationship between two of the participants, which could interfere with the disclosure of misconduct or diversion of funds. Whether there has been misfeasance, malfeasance or nonfeasance, by government officials or CIU staff members, remains an open question, requiring an outside forensic audit for confirmation.
Chronicles of Monte Friesner - Financial Crime Analyst
Contributed by Kenneth Rijock - Financial Crime Consultant