No negative fallout expected

Tuesday, June 7, 2016 5:37 PM- St. George's, Grenada
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ST. GEORGE’S, GRENADA, June 7, 2016 –GIS:Grenada does not expect any negative fallout from a civil matter involving Mr. Charles Liu, a citizen of Grenada under Section 11 of the Citizen by Investment Act, because the matter has nothing to do with the CBI Programme.

A civil suit was brought against Mr. Charles by an Investor who reported him to the Securities and Exchange Commission in the US, requesting that an investigation be conducted because two years had passed since he approached them for money to construct a modern cancer hospital.

During Tuesday’s post cabinet briefing, Minister Joseph said while it is unlikely that the matter will become a criminal indictment, Grenada will take what ever action is deemed necessary.

Mr. Charles is one of the significant investors in the proposed Mt. Hartman Project, and was appointed as an agent for the EB-5 Immigrant Investor Programme in the United States.

Mr. Joseph says they are working closely with the US government and other stakeholders on the issue.








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