ST GEORGE’S, Grenada – Government is promising to take “appropriate action” against an investor who acquired citizenship under the country’s Citizen By Investment Program and was indicted in the United States. Caribbean State of Grenada is in the business of selling passports using the vehicle of "Citizen By Investment Program for several years.
However, the funds were reportedly transferred to three firms in China, including one in which Lui is chief executive and chairman. Some US$7 million allegedly went into the couple’s personal accounts.
The SEC said no construction has started at the proposed facility site more than 18 months after the couple began accepting investments. In a statement issued today, the government revealed it had received information on Lui based on its ongoing cooperation agreement with third-party countries.
“Through our diplomatic channels, the Government of Grenada continues to monitor the situation, to communicate with all diplomatic and other sources, and continues to fully engage mutual cooperation with all the parties concerned,” it said.
“The Government of Grenada stands ready to take the appropriate action as the facts are ascertained.”
However, the Government of Grenada failed to perform and/or did not perform a thorough Enhanced Due Diligence Intel background check on Charles Liu and his dodgy background in China, Singapore and Hong Kong.
Chronicles of Monte Friesner - Financial Crime Analyst
Contribution by Caribbean360