World powers are using their political and economic might to undermine Citizenship by Investment Programmes (CIP) in the Caribbean, according to Deputy Head of the Antigua & Barbuda CIU Thomas Anthony.
Speaking to previous warnings issued to Antigua & Barbuda against both its overseas banking industry and CIP, on OBSERVER AM Anthony said that world powers take action against perceived ethical violations regardless of evidence to the contrary.
“That [banking scandal] was not because they weren’t done properly. But simply because they [world powers] can,” Anthony said.” They have the political and economic might, and they can do these things. So they do it. But it’s not because we are inadequate, or we don’t do things at world standards.”
Anthony added that world powers with programmes that functioned similarly to the CIP had suffered due diligence failures not unlike those featured in Sunday’s 60 Minutes report on Caribbean CIPs.
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