ST. KITTS' BILZARIAN MONEY LAUNDERING INDICTMENT OPENS A CAN OF WORMS REGARDING RUMOURS OF SALE OF ANTIGUA'S GOVERNMENT-OWNED CARIBBEAN UNION BANK (CUB) TO CHINA

The scandal surrounding the $50m money laundering indictment filed in SaintKitts & Nevis against American corporate raider and fugitive from justice PAUL BILZARIAN, his wife, and a business partner who operates Bilzarian's business empire from Antigua, has reopened controversy over the bleeding financial wound in St. John's known as CARIBBEAN UNION BANK, which is majority government owned and in fiscal difficulty.

Reportedly, Antigua's PM GASTON BROWNE, who previously attempted to get Bilzarian to buy shares of the bank, first those held by his family, and then later the entire 80% owned by the Government of Antigua, back in 2025. There are also rumours that, following the collapse of that transaction, Browne offered the bank stock to an unidentified Nigerian businessman. Unfortunately, no further information is available on that unsuccessful attempt to bring in a new party to recapitalize the bank from an African source.

Finally, there apparently has been a more recent interest in the acquisition of CUB; this was was reportedly from a Chinese financial entity. Given that such matters do not occur without securing prior approval at the highest levels of government in China, we see this as an additional effort by China to exert a level of control over Antigua's decision makers. If it comes to fruition, such a transaction will be seen as an unfriendly act by the Government of the United States, which is actively seeking to reduce China's role in the Eastern Caribbean. The current American administration has made it clear that it regards the Caribbean as its Sphere of Influence, to the exclusion of all outside powers, pursuant to the Monroe Doctrine, whose Roosevelt Corollary should give Antigua pause, should it contemplate selling an indigenous bank to a Chinese company.

One additional and serious wrinkle: CUB had an incestuous relationship with another indigenous bank, GLOBAL BANK OF COMMERCE, now under administration, and their connection reportedly included substantial transfers from Venezuela, which means that there may be connections revealed in the NICOLAS MADURO MOROS case (SDNY), the ALEX SAAB MORAN case(SDFL) and a third as yet unfiled financial crime indictment also in SDFL. Will CUB turn out to be too hot to sell?