The Director of Public Prosecutions’ Office (DPPO) announced today that it will be launching a formal investigation into the administration of the Citizenship By Investment (CBI) program prior to the significant reforms implemented by the current Federal Administration.
The CBI program has attracted significant criticism for its lack of transparency and its seeming disregard for rules that were supposed to govern its operation. Concerns have been raised about the administration of the program prior to the recent reforms, including issues of underselling citizenships, transparency, and financial accountability.
“The DPPO office emphasizes the importance of ensuring a fair and independent inquiry, particularly in light of the potential political implications of the investigation”, said a government statement.
The DPPO has received assurances from the Federal Administration that they will fully support an independent and impartial process, allowing the investigation to proceed. The DPPO plans to appoint a Special Prosecutor from a foreign jurisdiction to lead the inquiry, with the assistance of a team of outside investigators. At least one local investigator, in whom the DPPO has full confidence, will also be part of the investigative team to ensure collaboration and local oversight.
“I fully support that effort. This administration is turning its attention to irregularities that allegedly occurred with the CBI program prior to the reforms we enacted.”
– Prime Minister Dr. Drew
PM Drew explained, after enacting significant CBI reforms in St. Kitts and Nevis—including making underselling of citizenships illegal—our Administration led efforts that resulted in a Memorandum of Agreement among the five members of the Organization of Eastern Caribbean States which offer CBI programs. That MOA established CBI reforms and put OECS members on equal footing regarding CBI activities.
