CALLS FOR THE RESIGNATION OF THE GOVERNOR OF THE EASTERN CARIBBEAN CENTRAL BANK FOR WILLFUL BLINDNESS TO MONEY LAUNDERING IN CITIZENSHIP BY INVESTMENT INCREASE

Public pressure upon TIMOTHY ANTOINE, the Governor of the ECCB, to tender his resignation, after an interview during which he repeatedly evaded answering direct questions about illegal activities of the financial institutions at member banks which constitute money laundering, and could result in major loss of correspondent banking access in the region, has now spread to Saint Kitts & Nevis, where the regulatory agency has its headquarters. A media report just released brutally excoriated Antoine for professing ignorance of what has become a desperate situation where essential correspondent banking is literally hanging by a thread, and the ECCB is pointedly ignoring the problems, which threaten the economies of the EC states that offer CBI/CIP. Antoine has become the face of the problem.

Many observers believe that Governor Antoine is following strict orders of the members of the Board of Directors of the ECCB, all of whom are closely linked to their respective countries' prime ministers, who are themselves alleged to be recipients of illegal compensation from companies engaged in CBI sales, and that this widespread corruption is the root cause of the problem. Antoine's recent interview demonstrated his intentional avoidance of the rampant money laundering problem, which could result in the loss of the three principal US banks which currently offer most of the correspondent banking access to EC banks. He claimed not to be aware that Bank of America had terminated acceptance of CBI money originating in Dominica, and that real threats of the loss of correspondent banking elsewhere, from ECCB Member banks was a real possibility, thereby losing public confidence in his leadership ability.

We call upon Governor Antoine to tender his resignation with immediate effect, and for the immediate appointment of a qualified administrator, from outside the region, so that the problems can be addressed forthwith, before the economies of the countries in the region are severely damaged by the loss of access to the American financial structure, as US banks choose to De-Risk, rather than face major possible fines and penalties from regulatory agencies for failure to rein in massive money laundering from the Caribbean.