In a press statement released on Thursday April 18th, 2024, MSR Media announced that a 2 year long investigation into the CIP programs throughout the region, has uncovered evidence of corruption, money laundering and the unlawful underselling of CIP units. The media company has invited Prime Minister Phillip J Pierre and Minister for Investment Dr Ernest Hilaire to examine the evidence as part of MSR’s campaign against corruption within the CIP.
MSR Media Inc is a movie production company which has invested millions in the CIP program in St Kitts and Nevis. Recently MSR was named an approved public benefactor in the twin island nation. In November 2023, MSR announced legal proceedings against a number of CIP players including the former Prime Minister of St Kitts, the former head of the CIP unit and Caribbean Galaxy Real Estate, for allegedly underselling stakes in that country’s CIP at prices well below the legally mandated rates. The suit also outlines allegations of money laundering and corruption.
MSR Media claims to have been defrauded by such activities and have pledged to file suit in US federal Court. The company claims to have obtained financial data from the US and international financial systems, including evidence of transactions benefitting government officials related to the CIP. These findings will be presented to the European commission next week by the MSR legal team.
One of the companies named in the suit, Caribbean Galaxy Real Estate, is currently engaged in selling shares in St Lucia’s CIP program. The company is offering investment opportunities in its Canelles Resort Project and the chance at St Lucian citizenship, at a price of US $300 thousand dollars.
It remains to be seen whether Prime Minister Pierre and his deputy Dr Hilaire, will attend the meeting, which has been mandated to take place within the next ten days.
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