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Jul 18, 2019

F.I.U. Speaks On Sanctuary Bay Land Scam; P.U.P. Calls for the Removal of Joy Grant

In the multitude of documents, the F.T.C. points out that the Financial Intelligence Unit was warned by then Central Bank Governor Glen Ysaguirre, via email, of an ongoing investigation into massive violations of our Foreign Exchange Regulations by the principals and developers of the S.R.W.R. real estate project. That email was sent to the then Director of the F.I.U. Joy Grant, who, after four days of receiving the email, was given the post of Central Bank Governor. According to Grant, the communication was informal and Ysaguirre had said that there may be a fraud and not necessarily that there was a fraud. The F.I.U. broke its silence today and fired off a statement in which it says that it did receive the Central Bank’s referral and the referred party was invited to several meetings during which available evidence was provided.  An assessment of the evidence was conducted and the F.I.U. concluded that the likelihood of a successful prosecution was negligible.  Today, the P.U.P.’s Kareem Musa called for the resignation of Joy Grant as Central Bank governor.

 

Kareem Musa

Kareem Musa, Shadow Minister for Legal Affairs, P.U.P.

“The U.D.P. government, Central Bank, F.I.U. they have made Belize a sanctuary for scandals, schemes and scams. When this scandal broke, what did Dean Barrow do? He got up and told the Belizean people no big deal this is a private matter for U.S. citizens. So again if it a private matter, why did he settle with them? And why is he to this day keeping the settlement a secret? I listen to the press conference in utter dismay and disbelief as he tried to wash his hands of his mess that his government created. The Prime Minister would want us to believe that the government, the Central Bank and the F.I.U., they have no duty to protect investors from scam being perpetrated against them. He actually said that there is no crime that took place.  As a trained lawyer he is well aware that there is criminal offence that fit this type of crime. What about the crime of obtaining property by deception? What about the crime of theft of some one hundred million dollars. Your government Mr. Minister knew it all and did nothing about it. So she Joy Grant has to answer to his nation. What did you do when you got that memo? Did you pass it on to Mr. Clare who took over from you four days later or did you just ignore the biggest international scam ever? In which case, she does not deserve to be the governor of our Central Bank. She needs to resigned or be removed because that is negligent.”  

 

The F.I.U. says that it pursued other available avenues and cooperated with local authorities to ensure that enforcement of existing national compliance obligations was being pursued. The statement says that the F.I.U. continued to monitor various persons associated with the enterprise.


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