Is there chronic racketeering with Dominica’s Citizenship by Investment (CBI) due
diligence fees? The answer to this question is – why not when the entire CBI operation is laden by corruption .
Apart from the Billions of dollars misappropriated from the direct investment fees there are also millions of dollars collected by the CBI agents exclusively for auditing applicants and as already established, Dominica’s CBI program is opaque with little to no accountability to the public. It is also a known fact that Dominica’s "due diligence"continue to be void of "Due Diligence" - but we will get to that later.
Apart from the Billions of dollars misappropriated from the direct investment fees there are also millions of dollars collected by the CBI agents exclusively for auditing applicants and as already established, Dominica’s CBI program is opaque with little to no accountability to the public. It is also a known fact that Dominica’s "due diligence"continue to be void of "Due Diligence" - but we will get to that later.
Dominica’s
Due Diligence fee structure is as follows .
The Principal applicant pays US$7500
The Spouse another US$7500
Dependent (16 and over) –US $4000 each
Dependent (12-16 year) – US $2000 each
In 2018
the government declared that there were 5000 passports sold. From the fee
structure noted we can safely assume that over US$36 million had been collected
by passport selling agents. This is like blood in ocean for hungry sharks.
Notwithstanding the many years of misconduct within Dominica’s due diligence program, in 2019 the program again came under the scrutiny of the US State
Department. The 2019 state department report says “Under Dominica’s Citizenship by Investment Program, “due diligence has been
lax,” The report continues. “Dominica does not consistently use available
regional mechanisms, such as the Joint Regional Communications Center (JRCC),
to properly vet candidates. The CBIU does not always deny citizenship
to those who are red flagged or given negative dispositions from the JRCC and
other institutions.”
The
report further indicated "a general disquiet among American authorities
regarding the proliferation of CIPs.“U.S. law enforcement is increasingly
concerned about the expansion of citizenship by investment programs due to the
possibility of local corruption and the visa-free travel and ability to open
bank accounts accorded these individuals,”
The many scandals involving diplomatic passports sold and issued to dodgy diplomats is a definite indication of a
system afflicted by bribery and corruption however we have also reported countless examples of passports issued under the CBI program where clearly there was no due diligence performed on the individuals– For example we
reported on an Iranian who came to Dominica via Venezuela picked up his
passport and fake birth certificate and two days after he took a flight back to
Venezuela. We also reported on a Chinese businessman who had been under SEC
investigation and was able to get two Dominica passports using two different
names. We also reported on the Iranian woman who was deported to Dominica from
Canada – our investigation revealed that she too had not been given a
background check when she purchased her passport in Dubai.
Where
millions of dollars in cash is collected with the only oversight coming from
Dominica’s pack of hungry hyenas
(Roosevelt Skerrit and his gang) a spring board for money laundering and
financial improprieties becomes part of the operations. Dominica’s CBI manual indicate
that the processing of an application takes 3-4 months yet there are 5000-8000
passports sold per year. It is therefore not farfetched that a considerable amount
of successful applicants never go through background auditing. According to the standard CBI requirements due diligence
fees are collected upfront.
Last
year we also learned that the US State Department had been very concerned about
the number of Iranians who received Dominica passport and were allegedly not
vetted. Did these unvetted Iranians pay the US$7500 in due diligence fees?
Nanthan This time due its a due diligence matter
A few weeks ago there was a matter in the high court of Dominica involving Dominica’s CBI director Emmanuel Nanthan and one Mohammed Raad Al Quasi. We have found several businesses (nonfunctional as well) and addresses in London and UAE all related to a Mohammed Raad Al Quasi. At this point we are not sure if it is the same person in the Nanthan case.
Details
regarding Nanthan’s matter is under strict lockdown and are guarded like the
Gold Codes (launch codes for nuclear weapons) however our investigation reveal
that the matter has to do with disputes related to Due Diligence fees and it is
alleged that Mohammed Raad Al Quasi is requesting money related to due
diligence be returned to him.
Several
questions come to mind
How and why is Dominica’s CBI director involved
in CBI due diligence dispute?
Is Nanthan himself selling “still” selling
passports and collecting due diligence fees? If so this is conflicting interest
and evidence of wanton corruption
A few
years ago it was reported that over a million dollars allegedly came into Nanthan’s
private account and when the activity was flagged as suspicious it alleged that Nanthan told the bank that the money came from passport transactions.
In a
recent declarations Nanthan stated that in 2019 there were 2600 passports sold
and based on the due diligence fee structure we estimate US$19 Million in fees collected by CBI agents /passport sellers just for the vetting of applicants. In the interest of transparency and accountability we are
asking Mr. Nanthan to provide us with the due diligence account; sum collected
by each agent and evidence of the amount paid to the various due diligence
firms. If our CBI director Emannuel Nanthan is selling passports, we would like an accounting report from him as well.
 due diligence fees? The answer to this question is – why n...){kind=link}
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