FIVE YEARS AFTER CYPRUS CANCELS ITS DODGY CBI PROGRAM, BAD ACTORS WITH CYPRIOT PASSPORTS CONTINUE TO COME OUT OF THE WOODWORK

A new scandal in Singapore reminds us that, years after a mismanaged Citizenship by Investment (CBI) economic passport sales program has been terminated by the sponsoring country. the problems created by such dodgy programs come back to haunt those who created them. Media in Singapore is ablaze with the emerging story about how three senior Singaporean ministers, Ng Chee Meng, Ong Ye Kung and Chee Hong Tat, have been found to have been to dinners also attended by SU HAIJIN, the convicted, sentenced, imprisoned (14 months) and now deported, Chinese money launderer involved in cleaning S$3bn.

You may recall that Su infamously jumped off a balcony, seeking to evade arrest and seriously injuring himself, but still finding himself being taken into in custody. Desperate money launderers, do desperate things, i can tell you from personal experience.

What I found of interest is that Su operated through a Cypriot Citizenship by Investment (CBI) passport, which he acquired before media exposure caused the program to be cancelled in 2020. Perhaps government officials in the Caribbean countries that still sell CBI or CIP, such as Grenada, might want to keep this in mind, in the event that the country's IMA deems it advisable to terminate its program; the money launderers, sanctions evaders, and transnational criminals that you have given passports to will continue to cause problems abroad, and be exposed, together with their valuable CBI passports, which they never should have been issued.