Five years ago, during the Response of the Parliamentary Opposition to the 2019-2020 Budget Address, Dominica and the World learnt about a missing XCD / EC $1.2 billion dollars that was derived from the island’s Citizenship-By-Investment (CBI) Program. To this date, the whereabouts of the vital funds for a resource-poor, developing country remains unknown to the General Public, the legal and rightful owners of these Public Funds. Above all, the magnitude of the missing funds have continue to mushroom.
Under the CBI legislation, it remains unclear who has ownership of the Public housing, health and Wellness Centers the 'New' Marigot Hospital and the 'under-construction' International Airport. As written, under CBI (SRO 2014) there are two option for those who purchase Dominican Citizenship: Economic diversification Fund, EDF and Real estate options. At least, that is what is documented on invest Dominica site and in the legislation. But, in August 2019, we learnt of a third option, MMCE-Housing Option, from Roosevelt Skerrit (then Minister of Finance) in response to questions of missing founds.
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Genesis of a Fraudulent scheme and emergence of a Rapacious Entity - MMCE.
2014
- Revamped Dominica CBI program established through SRO.
- Canada's Immigrant Investor Program (major source of MMCE Income) was discontinued; MMCE needs a lifeline.
2015 - A banner year for MMCE
- August 2015 - TS Erika hits Dominica
- November 2015 - MMCE starts advertising Dominica's CBI Program concurrent with similar program in St. Kitts and Nevis.
- Suspicious Housing Option likely floated amongst crooked politician and private entity. However, except for the crooks who created this entity, no one knows the date nor circumstance(s) as this has never been publicized in the Official Gazette or other government communication instruments like the GIS (see next section).
2016
- 'Time-stamp' when the 'Real Estate Option' took flight - citizenship sales via this option started to mushroom. Seeing how well this option was doing, it is suspected that the idea of an 'MMCE Option' under Dominica CBI proram may have been consolidated sometime in early 2016.
- September 2016 - Bellevue Chopin Housing project announced with Lies and Fanfare. The claim that MMCE front-loaded the project was a lie. The claim that MMCE bought the land was also a lie.
2017 -2018
- MMCE
receives multiple no-bid government of Dominica contracts to build
homes, apartment complexes, schools, health centers throughout Dominica.
Without exception, all structures were tagged at highly inflated prices
(2-3 times true market value).
2019
- July 29, 2019 - Funds missing from Dominica's Consolidated Funds initially identified by then opposition leader (Lennox Linton)
- Aug 2019 - Roosevelt Skerrit, then Minister of Finance reveals for the first time on Local Radio Station, Kairi FM, the existence of an Housing Option, which had then become more profitable than the "Fund Option". This fund was latter called the "Housing Option" or "MMCE Option" by the Prime Minister. The money is apparently stashed in an Escrow account controlled by Roosevelt Skerrit and CEO of MMCE (Anthony Haiden).
2020 - 2024
- Funds missing, diverted or stolen from the Consolidated Account of Dominica has risen to (conservative) range XCD $5-7 billion. The estimates are based on citizenship sales at cost of US$100,000 each. However, under the original Real Estate option the listed cost is US$200,000 each so the missing funds may be as high as XCD$9-10 billion. Still, there has been no audited statement or public accounting to quantify the missing funds or their location.
- The MMCE Housing Option has become a behemoth slouch fund for Roosevelt Skerrit, Anthony Haiden and Dominica labor Party to do as they please - build mansions, buy influence / ministers, curry favor, electioneering, purchase private land and property in Dominica, Dubai (UAE) and elsewhere globally.
MMCE now runs Dominica and has more catch-on-hand than the government of Dominica. Unfortunately, all of those funds were diverted from the sale of Dominica citizenship. All housing projects, health centers and the billion dollar International airport have been contracted to MMCE. A visit to MMCE webpages shows it is all about Dominica and nothing else. MMCE is now the goverment of Dominica.
In October
2023, multiple OCCR reports blows up the scam. At least 25,000 passport
sold in the period 2017-2023 with no official report in the official
Gazette. The European Union has placed sellers of Golden Passports (Dominica,
Antigua and Barbuda, St. Kitts & Nevis, St. Lucia and Grenada) on
notice that Visa waiver to holders of passport from these country will likely be ended unless certain conditions are met. The conditions include 1) passport peddling country should stop advertising as their main attraction 'access to Schengen countries', 2) the practice of selling citizenship to individuals who do not visit the state should be reconsidered; 3) funds to be repatriated to countries selling the citizenship. To save face, the corrupted DLP govenment in Dominica recently stated that the have cancelled about 70 citizenship that were obtained under 'fraudulent means'....
The challenge is now asset recovery, a completely new area that has never been explored by Dominica. Retrieving Dominica' monies out of fancy condominiums and cars, fake hotels, land, foreign accounts and 'other criminal vehicles' will be the biggest challenge this nation will face; greater than Hurricane David, TS Erika and Hurricane Maria..... The missing funds can potentially nullifies the combined damages visited on the island by these three super-storms.
