MANIPULATIVE CBI CARTEL EXPOSED

In an unprecedented conspiracy meeting in Dubai held by some significant citizenship by investment agents, WIC News reveals the formation of a CBI agent cartel.

A source who was invited to this meeting feels quite disgusted with the idea and has leaked the underhanded movements of the group who have formed a cartel to manipulate the pricing of CBI programmes in the Caribbean.

The modus operandi is to form a cartel, therefore, having immense purchasing power and thereafter demand massive commissions and price reductions from Caribbean CBI jurisdictions. This can be manipulated against each CBI jurisdiction by promising volume of applicants where pricing is lower and commission is higher.

The anonymous whistleblower provided an insight into the manipulative practices of the newly formed CBI cartel and how they intend to use its combined purchasing power to extract more substantial commissions and drive down the investment price greedily. They are also using COVID-19 and certain Governments financial exposure to strike at a time of weakness to push through their cartel tactics.

These particular cartel members have overlooked that these very programmes have earned them success and wealth; however, now they feel competent to take captive of a position to manipulate an entire programme. Thoughts of the benefits of CBI to peoples every day lives on these islands are not even considered by the cruel cunning ways of this cartel.

Some Government officials anonymously stated that CARICOM member nations offering citizenship under-investment programme recently joined together to strike on these agents asking for more than 50 percent of the amount received under Citizenship by Investment Programme for each application.

Many countries also condemned the attempt of monopolising the programme which has a more considerable impact on the economic growth of these Caribbean nations.

Citizenship by Investment Programme allows these countries to sell their citizenship for as much as US $200,000; however the application charges may vary.

The agents are now plotting to monopolise the programme and charge half of the amount received by the countries. For instance, if USD$200,000 is the total amount for an application, then the agents are proposing to jointly manipulate Governments to reduce this to USD$100,000 and take USD$50,000 as commission. This of course will have a drastic effect on income to a country whilst enabling an easy sell and huge commissions for an agent.

By doing this, the agents would receive nine times of more than their current commission which will undeviatingly lower the benefits for these small Caribbean nations that rely on this programme to run their economies.

Dubai is a significant market for this Citizenship by Investment agents dealing with selling of majority of Caribbean passports. These are third party agents authorised by the countries to sell their citizenship programme for which they receive their designated commission per application.

Other investment immigration programmes such as Canada or United Kingdom do not offer commissions to agents. This initially was the case,for example in St Kitts where commissions were not paid. Perhaps it is time that the Caribbean jurisdictions work collectively to safe guard the programme from unscrupulous agents and cartels by following the lead from countries like Canada and United Kingdom by not offering any commissions to agents. After all it is doubtful there will be any reduction in demand for second passports.