By Elesha George
Nine years after one of the largest corruption scandals to emerge from Latin America and the Caribbean, the government of Antigua and Barbuda has secured a court-ordered forfeiture of EC $93.8 million.
On November 13, 2024, Justice Rene Williams granted the Recovery Order under the Proceeds of Crime Act, 1993, directing the seizure of US$14 million and €17 million held by Creswell Overseas SA, a Panamanian company with accounts at the Meinl Bank (Antigua) Ltd now in receivership.
According to a press statement from the Office of National Drug and Money Laundering Control Policy (ONDCP), the funds are believed to be tied to the Brazilian construction giant Odebrecht, which was at the centre of the global corruption scandal known as Operation Car Wash. This operation revealed billions of dollars in bribes paid to politicians and officials worldwide to secure lucrative construction contracts.
Lieutenant Colonel Edward Croft, Director of the ONDCP, confirmed that additional steps are being pursued as Meinl Bank remains in receivership. Once the legal processes are completed, the seized funds will belong to the state.
The ONDCP’s investigation into Creswell Overseas SA began when the company failed to provide legitimate documentation to justify its financial transactions. The ONDCP alleges that the funds were linked to Odebrecht’s scheme of “awarding of or the payment of invoices connected to large-scale construction contracts”. Creswell’s funds were frozen after the company could not substantiate its claims, and investigators believe the money was part of Odebrecht’s broader network of illicit payments.
Croft, satisfied with the performance of his financial investigators, said the investigations have brought about the recovery of the proceeds of ill-gotten gains and thereby taken the profit out of crime.
The investigation into potential links between Antiguan and Barbudan officials and the Odebrecht bribery network began in 2017 following a US probe. The investigation revealed that two Antiguan government officials were implicated. US authorities identified one as a “consular official” and the other as “an intermediary to a high-level official”.
A €3 million bribe was allegedly paid to one of these officials to obstruct international efforts to access banking records that could have exposed Odebrecht’s illegal activities. In the aftermath, Hon Consul Louis Franka was dismissed, and Ambassador to the UAE Casroy James resigned after being asked to clarify his involvement. James denied accepting any bribe money but agreed to return sums he claimed were paid for independent consultancy work. It is believed that his resignation was due to his inability to provide a satisfactory explanation for the funds.