THE IMPACT OF THE FILING OF THE RICO COMPLAINT ABOUT ST. KITTS AND ST. LUCIA CBI PROGRAMS SHOULD NOT BE UNDERESTIMATED

No sooner did the news appear, reporting on the filing of a RICO complaint, asserting systemic illegal conduct in the sale and operation of Citizenship by Investment (CBI) passport programs in the East Caribbean states, when the naysayers in the passport sales industry started discounting its importance. One commenter opined that it would not affect those individuals who already owned St. Kitts CBI passports. Obviously, that individual has not even read the 102-page Complaint, because if he did, he would understand the gravity of the threats to the holders of those passports. the prices of thousands of the passports have been illegally discounted by one vendor, with the assistance and cooperation of government officials, for financial benefit. This renders them illegal and void under Kittitian law.

The plaintiff has also filed an action in St. Kitts to require that ALL illegally discounted SKN passports be cancelled, and declared by the government to be of no further force and effect. We hope that this little detail gets the attention of the passport sales industry. It will most certainly have a "material impact" upon all existing and issued passports.

Ultimately, the lawsuit, which demands treble damages in addition to one hundred and fifty million dollars in actual damages, will ultimately result in complete and total reform of how CBI due diligence is conducted, to properly screen applicants, and eliminate the corruption that permeates most such programs, which are fatally infected with illicit bribes and kickbacks.

Again, I ask anyone with a serious interest in the future of CBI, whatever that might be, to take the time to review the filing, which is a public record, in order to completely understand how the St. Kitts program has been illegally administered and operated, thereby damaging investors, passport purchasers, developers, and the people of St. Kitts & Nevis. MSR Media SKN Ltd. et al vs. Leslie Kahn et al, Case No.: 24-cv-01248 (MD FL). It will bring about a sea change in the Citizenship by Investment passport industry, forthwith.