DOMINICA CONTINUES TO SELL CBI PASSPORTS AT AN ILLEGAL DISCOUNTED RATE, IN VIOLATION OF THE MEMORANDUM OF AGREEMENT IT SIGNED LAST YEAR

If you were one of the people in the Immigration Migration sector, as consultancies that sell Citizenship by Investment (CBI/CIP) passports like to refer to their industry, you may have seen that Roosevelt Skerrit, the Prime Minister of the Commonwealth of Dominica, made a public statement at the beginning of the St. Kitts & St. Lucia CBI scandal to the effect that Dominica would also cancel any passports that were found to have been sold at an illegal discount. Considering that Dominica does not appear to be connected to Caribbean Galaxy, the Chinese company alleged to have been involved in the SKN/SLC illicit sales, what was the necessity for that announcement, they wondered aloud.

The fact is, there were illegal passport sales in the past, and it seems that since Dominica agreed, in March 2023, to abide by the M of A that it signed, there continue to be illegal sales. Our sources have stated that this fact is not only well known, one of the principal vendors of Dominica economic citizenships is known to have been the seller.

Not only that, but some of the application payments sent in for illegally discounted passports have been blocked from being deposited in American correspondent accounts by one of the very same US banks that we have identified as having accepted, and transmitted, illicit payments in the St. Kitts/St Lucia scandal, which confirms that American banks had actual knowledge that some of the five East Caribbean CBI states were accepting illegal applications at seriously discounted rates.

This fact undermines any defense that US financial institutions may assert that they were unaware of conduct which is illegal under the local laws which govern CBI sales, and increases the probability that some American banks may end up as party defendants in CBI litigation. This will give bank counsel who represent those financial institutions, who most likely are nervously monitoring the unfolding developments, both down in the East Caribbean as well as in two U.S. District Courts in Florida, some food for thought.