Businessman Calls for Revocation of MSR Media Group’s CBI Status
Businessman Criticizes Martinez’s Actions
A prominent businessman has called on Prime Minister Dr. Terrance Drew to revoke Phillipe Martinez and his MSR Media Group’s status as the sole public benefactors under the St. Kitts and Nevis Citizenship by Investment (CBI) Program’s new Public Benefit Option.
Speaking on Freedom FM’s Issues Programme with host EK Flanders, the well-known businessman passionately articulated his concerns. “Good afternoon, EK. I am happy to weigh in on this topic this afternoon, and it is one that is very important to me as a citizen of St. Kitts and Nevis. I believe that a lot of people in the Federation still don’t understand the implications of what this gentleman has done.”
Background on Martinez’s Involvement
According to the businessman, Martinez, who came to the Federation to produce films, received substantial financial support from both the Nevis Island Administration and the government of St. Kitts. Martinez used these funds to purchase the Ocean Terrace Inn (OTI) and subsequently leveraged this investment to further profit from the film industry.
“Now, we have a situation where a man came into the Federation to make movies, and we were paying him, well, the Nevis Island administration was paying him, $150,000 U.S. dollars per month for the last two years, and he was able to accumulate some money. He saw a golden opportunity and he went and bought the OTI with our money.”
Condemnation of Martinez’s Actions
The businessman criticized Martinez’s strategy to generate additional income through the CBI program by selling shares related to his film ventures and the OTI, despite not being a citizen of St. Kitts and Nevis. He accused Martinez of exploiting the country’s resources and connections for personal gain while jeopardizing the financial stability of local institutions, including the National Bank.
“This man has put an attack on the National Bank. And for me, that is first and foremost. He is jeopardizing the ability of businesses like Rams and Valuemart to conduct international transactions, which is a critical issue.”
Call to Action
The businessman concluded by urging the government to take decisive action and remove Martinez’s project from the CBI Unit (CIU) website, stating that someone who poses a threat to the country should not be allowed to benefit from its programs.
“The government must transform and make a firm decision as to what they are going to do with this gentleman. His project must be removed from the CIU website. You can’t want to kill us but still want to make money from us. We don’t want his movie. He’s trying to destroy us. And I’m calling on the government of St. Kitts and Nevis to stand up and stand out and make a firm decision in the best interest of the people of St. Kitts.”
Conclusion
The businessman’s impassioned plea highlights significant concerns regarding the integrity and future of the CBI program, urging the government to protect the nation’s interests against those who might exploit its resources.
FAQs
Q: What is the Citizenship by Investment (CBI) Program?
A: The CBI Program is a government initiative that allows foreign nationals to obtain citizenship in exchange for investing in the country.
Q: What is MSR Media Group’s involvement in the CBI Program?
A: MSR Media Group is a film production company that has been involved in the CBI Program, selling shares related to its film ventures and the Ocean Terrace Inn.
Q: Why is the businessman calling for the revocation of MSR Media Group’s CBI status?
A: The businessman is calling for the revocation of MSR Media Group’s CBI status due to concerns that the company is exploiting the country’s resources and connections for personal gain, while jeopardizing the financial stability of local institutions.
Q: What are the implications of MSR Media Group’s continued involvement in the CBI Program?
A: The businessman believes that MSR Media Group’s continued involvement in the CBI Program poses a threat to the country’s interests, as it could lead to further exploitation of the country’s resources and connections.