Latest / IMI Podcasts / MSR Media Indicates its Lawsuit Over CBI Discounting Has Widened in Scope

Transcript

MSR Media Indicates its Lawsuit Over CBI Discounting Has Widened in Scope · IMI Podcasts

• 0:00
  SPEAKER_00: This episode first appeared as an article titled MSR Media Indicates Its Lawsuit over CBI Discounting Has Widened in Scope, and authored by Christian Henrik Nesheim on IMIDaily.com.
• 0:12
  SPEAKER_00: Subscribe to the newsletter and become an IMI pro to get exclusive access to our data center, private briefings, the citizenship catalogue, as well as your very own professional profile in IMI, and many more pro members-only tools and resources.
• 0:29
  SPEAKER_00: Movie producer Felipe Martinez and his company MSR Media, who late last year announced plans to sue St.
• 0:36
  SPEAKER_00: Kitts and Nevis's former Prime Minister and head of CIU over what they characterize as, quote, an international scam.
• 0:44
  SPEAKER_00: End quote, related to CBI real estate discounting, have issued a press release indicating their case has broadened in scope.
• 0:52
  SPEAKER_00: In his initial public claims in November, Martinez said MSR's lawsuit would target former PM Timothy Harris, former CIU head Les Khan, as well as Caribbean Galaxy executive Ying Jin.
• 1:05
  SPEAKER_00: IMR understands that Harris has responded by suing MSR and Martinez for defamation over the serious allegations.
• 1:13
  SPEAKER_00: MSR Media and Martinez have long promised to share, quote, explosive, end quote, evidence of corruption, fraud, and money laundering.
• 1:23
  SPEAKER_00: So far, however, while the company says it has shared this evidence with law enforcement, it has yet to release such evidence to the public.
• 1:31
  SPEAKER_00: What's new in this weekend's press release from MSR Media is chiefly two elements.
• 1:37
  SPEAKER_00: First, MSR Media indicates it could broaden the scope of its lawsuit to also target third parties, quote, who knowingly participate in these illegal practices or allow them to continue, including CBI escrow agents and CBI sales agents such as Eric Major of Rift Trust and Latitude, end quote.
• 1:56
  SPEAKER_00: While MSR Media singled out the well-known companies in the press release, dozens of investment migration companies worldwide have helped clients obtain Caribbean citizenship through discounted investments in CBI real estate, not only in St.
• 2:11
  SPEAKER_00: Kitts and Nevis, but also in the other Caribbean CBI countries.
• 2:15
  SPEAKER_00: The practice has been the subject of industry discussion for years, and the general, but far from universal consensus has been that as long as the government allows some companies to sell CBI at a discount, other companies will be pressed to follow suit or become uncompetitive.
• 2:31
  SPEAKER_00: This is particularly the case in heavily saturated markets like that of Dubai, where clients shop around for the lowest priced CBI packages, as described in vivid detail last week by Anastasia Barner in her article The Risks of CBI Real Estate Financing.
• 2:48
  SPEAKER_00: IMI has contacted Eric Major, who says he has chosen to refrain from commenting at this stage.
• 2:54
  SPEAKER_00: Second, MSR's newest press release indicates it has obtained fresh evidence that it plans to introduce in U.S.
• 3:01
  SPEAKER_00: courts, such as, quote, financial data from the US and international financial systems, including evidence of transactions benefiting government officials related to the CBI industry, end quote.
• 3:15
  SPEAKER_00: The media company also claims to have received, quote, troubling, serious evidence of potential security risks to the U.S.
• 3:22
  SPEAKER_00: and the European Union, resulting from poorly performed due diligence processes handled directly and or indirectly by Caribbean Galaxy and its CEO out of China, end quote, evidence it says it has already shared with U.S.
• 3:38
  SPEAKER_00: authorities and which it plans to share with the European Commission this week.
• 3:43
  SPEAKER_00: The company has also invited officials of the St.
• 3:45
  SPEAKER_00: Lucian government to travel to Washington, D.C.
• 3:48
  SPEAKER_00: to, quote, review investigative findings regarding the criminal activities undertaken by some bad actors in the CBI industry, including, but not limited to, Caribbean Galaxy, which currently dominates the CBI market in St.
• 4:02
  SPEAKER_00: Lutia, end quote.
• 4:04
  SPEAKER_00: MSR Media indicated it hopes this evidence will help persuade the St.
• 4:08
  SPEAKER_00: Lucian government to end its cooperation with Caribbean Galaxy and finally join the Pan-Caribbean Memorandum of Agreement.
• 4:16
  SPEAKER_00: MSR Media has promised to, quote, make an additional announcement regarding potential litigation involving individuals and companies based in St.
• 4:25
  SPEAKER_00: Kitts and Nevis.
• 4:26
  SPEAKER_00: End quote, today.
• 4:30
  SPEAKER_00: Thanks for joining us today on IMI Podcasts.
• 4:34
  SPEAKER_00: Subscribe for free to the IMI Daily Newsletter for breaking news and updates from the investment migration industry.
• 4:41
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