SAINT LUCIA IS ON THE EVE OF DESTRUCTION, WITH A USD$3bn CIP FRAUD AND CARIBBEAN GALAXY THREATENING LEGAL ACTION FOR BREACH OF CONTRACT

Ernest Hilaire; on the edge of a cliff

The dire situation in Citizenship by Investment (CIP) passport seller SAINT LUCIA has gone from bad to worse, with evidence now confirming that the total amount of payments by applicants, at illegally-discounted pricing, has now been calculated at $3bn US Dollars, which is in the possession of Chinese-owned CARIBBEAN GALAXY GROUP. The Caribbean nation's Minister for Investment, ERNEST HILAIRE, has now ruefully admitted that the government has "suspended" (read: cancelled) its contractual relationship with Caribbean Galaxy, and there are rumours that the company, unhappy with this turn of events, is actively contemplating serious legal action. Whether this will be breach of contract or some other remedy at law or in equity is unknown, but the consequences for Saint Lucia could be extremely serious.

Hilaire also disclosed publicly that Saint Lucia privately sought an exemption from the Memorandum of Agreement, signed by all five CBI and CIP states, to allow it to continue to sell passports at illicit prices, but was unsuccessful. Nevertheless, Galaxy continued to break CIP laws and regulations, and Saint Lucia facilitated that continuing fraud by approving the applications, and issuing passports. There are a possible 90,000 Saint Lucia passports sold by Galaxy in circulation; think about how that figure could impact the future of Saint Lucia, and the world.

There have been calls for Hilaire to resign the portfolio for Investment forthwith, as well as his elected office, as the massive fraud, money laundering and corruption scandal keeps getting worse each time additional evidence is brought to light. While Haiti is currently the only Caribbean nation that qualifies as a Failed State, Saint Lucia appears to be on track to join it shortly.