ANOTHER CHINESE COMPANY, THOSE ONE LOCATED IN DUBAI, IS ILLEGALLY SELLING CBI PASSPORTS AT DISCOUNTED RATES

As we continue to closely monitor unfolding developments in the RICO litigation in the United States, which involve allegations of the widespread sale of illegally-discounted passports of Saint Kitts and Saint Lucia by a Chinese company, CARIBBEAN GALAXY REAL ESTATE LIMITED, we are examining the CIP programs of the remaining East Caribbean states that offer economic passports, looking for other violations of the laws that set minimum prices, including the regional MEMORANDUM OF AGREEMENT.

We have evidence that another Chinese company, SINGAPORE HENG SHENG (Grenada) DEVELOPMENT PTE, LIMITED, operating out of Dubai, UAE, is openly offering to sell Grenada CBI passports for USD$85,000, which is a small fraction of the legal minimum permitted under the laws that authorize the sale of citizenships, and the accompanying passports. Attached to this article is one of the documents in our possession; we have several more, which serve to confirm that Heng Sheng's sales are illegal, and which subjects all the passports sold thereby to termination and cancellation by the Government of Grenada, forthwith, without prior notice or hearing.

Additionally, We note from the Heng Sheng MARKETING AGREEMENT, of which we have several copies, gives the company's third-party vendors an illegal referral fee of $35,000 for sending the company each new customer. This is over and above the normal commission, and inasmuch as it is not disclosed to the purchasers, represents a second violation of Grenada's economic citizenship laws and regulations.

Since the announcement was made that there will be several additional defendants added shortly to the RICO lawsuit, but to date those names have not been made public, we do not know whether Heng Sheng, or its third-party vendors, will be included as a party defendants. When an Amended Complaint is filed, we shall promptly publish those details.