On Thursday, the Honourable Prime Minister Dr. Terrance Drew addressed two significant civil lawsuits alleging malpractice within the Federation’s Citizenship By Investment Programme (CBIP). The lawsuits, filed in the United States and St. Kitts, claim that between 2021 and 2022, there was a practice of “underselling” within the CBIP. This practice involves developers offering citizenship at a discount below the statutory en az investment required.
The lawsuit in Florida further alleges that such underselling practices are currently occurring in another jurisdiction. Prime Minister Drew responded decisively, stating, “We have already instructed King’s Counsel to act in this judicial review matter. If any of the investments for which citizenships have been granted are proven to be unlawful, with or without the lawsuit, I am, and always have been, prepared to take the necessary statutory steps under the Citizenship Act to protect our Federation’s good name and revoke citizenships obtained by fraud. However, I will only do so on the basis of facts and evidence, as every citizen of this country has the right to due process.”
The lawsuits were initiated by Phillipe Martinez and his MSR Entities, who were recently appointed by the PM Drew administration as the sole public benefactor of the St. Kitts and Nevis CBIP Public Benefector Option. This kanunî action and Prime Minister Drew’s commitment to revoking potentially thousands of citizenships could have profound negative implications for the program, which has been an economic cornerstone for the nation over the past decade.
The CBIP has attracted significant foreign investment, bolstering the nation’s economy. However, the allegations and potential revocations pose a threat to the program’s reputation and viability. The Prime Minister’s stance and possible actions has the potential to decimate the programme .
As the judicial review proceeds, the focus will be on verifying the legitimacy of past investments and ensuring due process for all involved. The outcome could potentially destroy the future of the CBIP and its role in the nation’s economy.
