Jacho Entertainment open to full scrutiny in Vybz Kartel $950K investigation

Trinidad and Tobago: Jacho Entertainment who were the promoters of the One Caribbean Music Festival that promoted and advertised about the appearance of Vybz Kartel (Adidja Azim Palmer) as the main act are facing an investigation involving the large sum of money of $950,000 that were transferred to Vybz Kartel.

Jacho Entertainment denies all claims that are being made by the officials, that the money did not go through the proper channels of exchange to transfer the 950,00 USD to Vybz Kartel. Jacho Entertainment refutes all claims saying that at no time in paying for any of their artists including Vybz Kartel did they engage in the dishonesty practices or any unauthorized black market currency exchange.

It is reported that Jacho Entertainment is welcoming all investigations and said that they will cooperate with the ongoing inspection that is ongoing and any transparent reviews that are being conducted within the bounds of law. The statements came on Tuesday after acting Police Commissioner, Junior Benjamin had announced that the Financial Investigation Branch (FIB) had been assigned to begin conducting an investigation into how they acquired the USD to pay the artistes and how it was transferred.

Reportedly, the amount that was contracted to Vybz Kartel was 1.35 USD to which he received 950,000 USD which attracted the Finance Minister Davendranath Tancoo as to the relationship of how this amount had been transferred though the foreign exchange to the payment for the artistes and thereafter requested the investigation.

Jacho Entertainment further emphasised  that they are a registered entertainment promotion company that fully abides to the laws and regulations that govern not only the business but the foreign exchange of the Republic of Trinidad and Tobago which also includes the Central Bank guidelines.

Notably, no formal reports of the investigation have been filed linking Jacho Entertainment to any form of money fraud and all the formal payments that were handled and made to Vybz Kartel and other artistes were done through legal trackable banking procedures.

Jacho Entertainment further said that all investigations that are being conducted should be according to the law and guided by credible and reasonable cause. Saying that there is no need for any presumptions to be there just because a private company has successfully accessed the county’s foreign exchange platforms through the proper channels. Advising the police to have real cause and legitimate legal allegations and evidence for the investigation instead of targeting a legal working company and fishing for the public's interests.