Why is it that every major white collar criminal or fraudster or Ponzi schemer or Iran or North Korean sanctions violator arrested in the US seems to have a Citizenship by Investment (CBI) Passport issued by one of the five East Caribbean States ? Here's this week's new case, Philadelphia hedge fund manager/Ponzi schemer BRENDA ANN SMITH, who holds a Dominica CBI passport.
It is high time for bank compliance officers, when receiving any new account file where the client's passport was issued by DOMINICA, ST KITTS & NEVIS, ANTIGUA AND BARBUDA, GRENADA AND ST LUCIA, the issuing East Caribbean States, tostop trying to ascertsin whether the passport in hand was issued under a CBI program, and conduct enhanced due diligence on ALL
from these jurisdictions. There are just too many CBI identity documents out there for you to have make a judgment call on whether you are holding a CBI passport. Raise risk levels on ALL passports
from the listed countries, lest you incorrectly determine that one, and its holder, are genuine, low rsk, local West Indians.
Since the governments in the East Caribbean routinely issue CBI passport to
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