THE CONTINUED PRESENCE OF AMERICAN CAREER CRIMINAL PAUL BILZARIAN SHOW US THAT, IN SAINT KITTS, CBI DUE DILIGENCE IS PURE FICTION

 

This is the dodgy American white collar criminal, PAUL BILZARIAN, who moved to Saint Kitts & Nevis after he was approved to purchase a Citizenship by Investment (CBI) passport. At the time he applied, Bilzarian had just served a four year Federal Prison sentence for Securities Fraud, and had an outstanding final judgment entered against him, which now exceeds one hundred and eighty million dollars, with interest. This confirms that the vaunted pre-approval due diligence process conducted by the country's CIU is a total fiction as a simple internet search would have turned up  not only his felony conviction and judgment, but shown his long history as a career criminal in the United States. This is positive proof that the country does not conduct an investigation into the suitability of its CBI applicants. By the way, the US Government has still been unable to collect on its judgment, as Bilzarian is hiding his significant liquid assets through multiple shell companies. 

The more recent announcement, by its Prime Minister TERRANCE DREW, that Saint Kitts now has an agency that is conducting continuing investigation of SKN passport holders, in order to insure that any who engage in criminal activity lose their passport privileges, is also completely bogus and without a basis in fact. In September, Bilzarian was charged in Los Angeles, in a multi-count Federal indictment, on securities fraud, wire fraud, and defrauding the United States, which carry potential sentences that would commit him to prison for the rest of his life. Still, Saint Kitts allow him to keep his prized passport, and remain in the country, thus evading arrest by US law enforcement, and the administration of justice.

This is a clear demonstration that not only is there zero due diligence on CBI applicants, the purported "continuing due diligence' capability that PM Drew promised simply does not exist. How many Paul Bilzarians are hiding in Saint Kitt & Nevis from the long arm of law enforcement in their home countries? We suspect that the number will surprise you. The bottom line for compliance officers is, when presented with a Saint Kitts CBI passport as identification at account opening, to initiate an enhanced due diligence investigation, before approving any movement of funds. To do otherwise might allow yet another career criminal, like Bilzarian, into your bank, with an unacceptable level of risk. watch yourself with SKN passports, please; they are not to be trusted.