The Grenada government says it doesn’t expect any fallout from the civil charges brought against an investor who acquired citizenship under the country’s Citizen By Investment (CBI) programme.
Civil charges have been brought against Charles Liu by the Securities and Exchange Commission (SEC) in the US. The investor, who had committed to a multi-million dollar tourism project in Grenada in September last year, has been charged with violating anti-fraud laws in the US and has had his assets frozen.
But Minister for Economic Development Oliver Joseph says the civil matter has nothing to do with the CBI programme.
At the same time, he said the administration is working closely with the US government and other stakeholders in the matter.
And Joseph says while it is unlikely it will become a criminal indictment, Grenada will take whatever action is deemed necessary if that time comes.
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