Economic citizenship abuse may have cost St Kitts-Nevis between US$30 million and $130 million


St Kitts and Nevis Prime Minister Dr Timothy Harris (L) with Citizenship by Investment Unit CEO Les Khan

By Caribbean News Now contributor

BASSETERRE, St Kitts — The recently exposed but apparently still ongoing abuse of the St Kitts and Nevis citizenship by investment programme (CIP) may have already cost the country and its government between US$30 million and $130 million in lost revenue and overall economic impact.

Multiple allegations of apparent fraud in the St Kitts and Nevis CIP have surfaced recently, involving forged letters of approval, unmonitored switching from the donation option to the real estate investment option, misappropriation of client money into personal bank accounts, and illegally financed unsanctioned discounts.

Although, according to documents in…

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