St Kitts and Nevis launches probe into CBI irregularities under former Govt

In a landmark move, St Kitts and Nevis has announced to launch of a formal investigation into alleged irregularities in the Citizenship by Investment Programme during the previous administrative charge. The action of the Director of Public Prosecution’s Office is likely to pose implications for the Caribbean Galaxy, and Former CEO Les Khan. 

Following the announcement of the major action, Prime Minister Dr Terrance Drew also addressed the situation later Friday evening. He said he “fully supports that effort”.

“After enacting significant CBI reforms in St. Kitts and Nevis—including making underselling of citizenships illegal—our Administration led efforts that resulted in a Memorandum of Agreement among the five members of the Organization of Eastern Caribbean States which offer CBI programmes,” added the PM.

Prime Minister Drew added that now as the MOA is implemented, the administration is moving its attention to the irregularities that occurred within the CBI Programme much earlier the reforms were enacted. 

Appointment of a Special Prosecutor 

DPPO will also be appointing a Special Prosecutor from a foreign jurisdiction to lead the inquiry, with the assistance of a team of some outside investigators, including at least one local investigator.

The director of the Public Prosecution’s Office further emphasized that the local investigator will be an individual in whom the department has full confidence and ensure collaboration as well as add local oversight.

A Fair and Independent Inquiry 

The Director of Public Prosecutions Office (DPPO) assured a fair and independent inquiry into the matter. The Federation Administration has also ensured to fully support the impartial process, which the DPPO said will allow the investigation to proceed smoothly.

CBI Programme- A Vital Asset for St Kitts and Nevis

Moving with the address, Prime Minister Drew also added that the Programme is a vital asset for the citizens of St Kitts and Nevis. 

“We intend to ensure that it is administered properly and that anyone who improperly takes advantage of it is held to account,” said the Prime Minister in his address. 

Irregularities: A Major Concern 

During the previous Government, the Citizenship by Investment Programme of St Kitts and Nevis allegedly underwent several irregularities. Concerns have been raised on the major underselling of the applications with the assistance of the Former Government. Several key players such as CIU CEO Les Khan, and the Caribbean Galaxy have been under the radar.

The underselling led the Caribbean Five to sign the historic Memorandum of Association (MOA) to set up a minimum investment threshold to curb any future situations.