Latest / IMI Podcasts / St Kitts “Deactivates” Passport of Chinese National Facing 20 Years for Money Laundering

Transcript

St Kitts “Deactivates” Passport of Chinese National Facing 20 Years for Money Laundering · IMI Podcasts

• 0:00
  SPEAKER_00: A Chinese national who obtained St.
• 0:01
  SPEAKER_00: Kitts and Nevis citizenship has pleaded guilty to money laundering charges in Los Angeles.
• 0:07
  SPEAKER_00: Darren Lee, also known as Devon, admitted this week to orchestrating a cryptocurrency pig butchering scam that defrauded victims of millions.
• 0:16
  SPEAKER_00: The 41-year-old who secured his St.
• 0:18
  SPEAKER_00: Kitts and Nevis passport in 2020 through the Citizenship by Investment Program now faces up to 20 years in federal prison.
• 0:26
  unknown: St.
• 0:27
  SPEAKER_00: Kitts and Nevis authorities have deactivated Lee's passport following the guilty plea.
• 0:31
  SPEAKER_00: The case involves another Chinese national, Yi Ching Jang, who allegedly participated in the same criminal enterprise.
• 0:39
  SPEAKER_00: Prime Minister Dr.
• 0:40
  SPEAKER_00: Terrence Drew acknowledged earlier challenges with the CBI program and initiated comprehensive reforms, including mandatory interviews for applicants and dependents over 16.
• 0:50
  SPEAKER_00: The government recently established the continuing international due diligence unit to monitor investment-based citizens.
• 0:57
  SPEAKER_00: Prime Minister Drew previously stated that St.
• 0:59
  SPEAKER_00: Kitts and Nevis, quote, must ensure that citizens holding passports issued by St.
• 1:04
  SPEAKER_00: Kitts and Nevis and residing internationally abide by the laws of the countries in which they reside and respect international laws, end quote.
• 1:13
  SPEAKER_00: He further emphasized his administration was prepared to take the necessary statutory steps under the Citizenship Act to protect our Federation's good name and revoke citizenships obtained by fraud.
• 1:25
  SPEAKER_00: It is important to note that until now, there is no confirmation whether St.
• 1:29
  SPEAKER_00: Kit and Nevis has revoked Lee's citizenship, only that it has deactivated his passport.
• 1:35
  SPEAKER_00: U.S.
• 1:36
  SPEAKER_00: authorities noted that Lee's St.
• 1:38
  SPEAKER_00: Kitts and Nevis passport facilitated his international travel while conducting fraud against American citizens.
• 1:46
  SPEAKER_00: This episode first appeared as an article by Ahmad Abbas on IMIDaily.com.
• 1:52
  SPEAKER_00: Subscribe for free to the IMI newsletter for breaking news and updates from the investment migration industry.
• 1:58
  SPEAKER_00: And upgrade your membership to IMI Pro to get access to our exclusive professional community, citizenship catalog, investment migration company Rolodex, private briefings, and more members only content.