THE UAE STARTS ENFORCING ITS SIX FIGURE JUDGMENT AGAINST HENG SHENG GROUP, WHILE GRENADA CONTINUES TO DO CBI BUSINESS WITH THIS FRAUDSTER, AND CARIBBEAN REGULATORS IGNORE THE SCANDAL

This week, the Dubai Court of First Instance began proceedings to collect upon the $400,000 judgment it has entered for fraud against the Chinese-owned economic passport sales company HENG SHENG (HS); its bank accounts and business licenses have been blocked, and liens placed against them. There are also reports that its insurance policy has been forfeited and liquidated.

At the same time, as we have previously reported and now confirmed,, the company, using criminal tactics often employed by fraudsters caught in the act, have reopened under a new name, with a brand new bank account, and a new business license, but virtually this time, most likely to evade the anticipated next court action, a suit for fraudulent conveyance, to attach the assets of the successor company. Justice will be served in the UAE.

Notwithstanding the outstanding and unpaid judgment, the Government of Grenada continues to do business with Heng Sheng, and has even allowed the company to return to the illegal discounting of Grenada CBI citizenships, which are specifically prohibited by an international regional agreement on minimum pricing, signed by Grenada. It continues to allow HS to market Grenada CBI at the illegal rate.

Furthermore, the EASTERN CARIBBEAN CENTRAL BANK is still allowing international banking transactions of HS to be processed, and has not issued any statement, sanction or ruling, blocking Heng Sheng from the fraudster company's continued abuse of the regional financial system, and the Eastern Caribbean Citizenship by Investment Regulatory Authority (ECCIRA) has still, a year later, not gotten off the ground to rein in CBI misconduct by the East Caribbean CBI states, as promised in 2024. Caribbean CBI states continue to have zero effective international regulation of their passport sales misconduct; no wonder the EU has declared that it has had enough.

Finally, does the Government of Grenada not realize that its inaction regarding Heng Sheng's fraud, and its continued business relationship with the company could jeopardize its unique visa status with the United States, as well as the ability of its native-born nationals to visit America, as has already occurred to Antigua and Dominica? Grenada is playing with fire in the Heng Sheng scandal, and it's about to get burned. Is the country's arrogant leadership totally blind to the probable consequences? You can expect accountability from the U.S. sooner, rather than later.