GRENADA FAILS TO CHARGE $19m SWEDISH FRAUDSTER SOREN DAWODY WITH NEVER BUILT GSA AQUACULTURE PROJECT

If we had any doubts about whether Grenada's Citizenship by Investment (CBI) passport scheme was corrupt, one look at the never-built GSA Aquaculture Project, whose Swedish developer, SOREN DAWODY, failed to construct, after he had taken in $19m for construction from investors, and you have your answer. Dawody alleged that he had spent those funds, but his partners, contractors and suppliers all have asserted that he failed to pay them a cent.

Dawody ordered his investors to send their money to him abroad, and not to a designated escrow account in Grenada, as the contracts required, and the island nation's government allowed this to occur. Of course, the fact that he remitted CBI passport application funds to it, which meant that Grenada made out extremely well on each investment, might have had something to do with the government's total failure to charge Dawody with fraud, breach of contract and money laundering.Its government facilitated the fraud, and afterwards did not seek justice for the investors.

Dawody escaped justice by failing to return to Toronto, and by now residing in Dubai, UAE, his investors never received the contractually-promised payments, as the project was never completed. All they have for their six-figure payments is a Grenada CBI passport, which may eventually be useless, as the European Union is moving towards revoking visa-free status for all East Caribbean CBI passports, and the UK has taken to scrutinize each and every EC CBI passport holder who shows up at Heathrow Airport, seeking admission to the United Kingdom.