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Apr 15, 2021

Frose Brothers Allegedly Defrauded of $2 Million Investment in Commerce Bight

A pair of siblings came forward today with a bold claim that they have been swindled out of a two-million-dollar investment in Commerce Bight by former area representative Frank ‘Papa’ Mena and Dr. Peter Allen, an ex CEO under the Barrow administration.  Brothers Abraham and Heinrich Frose are local shareholders in Recological Systems Limited which was founded in 2018.  The company was established primarily for the purpose of offshore oil exploration near Dangriga.  This was done through a partnership with Alan Gobie, the managing director of R.S.L. who subsequently ended up transferring the Frose’s shares to another company called P Projects represented by Paul Martin.  According to the brothers, when they began investigating the company that they had invested in, it was discovered that Gobie was merely a front for R.S.L.

 

Abraham Frose

Abraham Frose, Bel-Caribe

“We had tried with Commerce Bight from 2008 to find out what the possibilities are for opening Commerce Bight for bulk exports because grain needs bulk, cheap prices.  So that was the first fact that attracted us.  When we contacted Gobie, he was more into oil which we were fine with that because it would evolve into what we would eventually want, it’s what our understanding was and we started investing on the agreement that we would be fifty percent shareholders with Recological Systems.  It was hard to get the share certificates.  We feel [that] there was interference at the registry which as above our heads.  We fought long and hard to get the fifty percent.  It was finally, eventually through, when the government changed that we were able to get the thirty-three percent and not the fifty percent.  So the interference was real at the registry, we know it was.  We forced the shares to come through, we had a lawyer to do it and we found out that Alan Gobie had sold or transferred [sixty-seven] percent of the shares already to P Projects.  That left only the thirty-three percent which at that point we were able finally to transfer to Bel-Caribe.  When P Projects came and took control of the other shares, we had never again heard, we requested but we never heard, we never had the decency of an answer from them, it was just a complete lockdown.  So basically, from late 2019 we don’t know what happened.  We found out just lately that they had a signed license, they had a license on Commerce Bight port. We had our doubts.  We started investigating and we found out that it was not, Gobie, he was not the real player in this, there were other people controlling it and at that point we had to let go.”


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