17th December 2024
Statement by the Saint Lucia Citizenship by Investment Board on the
Voluntary Dismissal of U.S. Lawsuit
By CIP Saint Lucia
In what we consider a failed attempt to threaten, embarrass, and extort the
Saint Lucia Citizenship by Investment Board (“CIB”) notes the recent
voluntary dismissal of a lawsuit filed in U.S. Federal Court against Mr. Mc
Claude Emmanuel, the Chief Executive Officer of the Citizenship by
Investment Unit.
The lawsuit, brought by Mr. Philippe Martinez, a developer based in St. Kitts
with no business ties to Saint Lucia accused the Unit of misconduct. The
Saint Lucia CIB has characterised the legal action as baseless and an effort
to tarnish the reputation of not just the Unit’s leadership but also its
network of key partners, including banks, authorized agents, and
promoters.
This lawsuit had no merit from the outset. It was a frivolous attempt to
undermine the credibility of the Citizenship by Investment Programme and
its management.
The withdrawal of the lawsuit further underscores the lack of credibility
surrounding his claims. It should also be noted that last-minute attempts
for a financial settlement were also rejected.
The controversy comes as Saint Lucia continues to position its Citizenship
by Investment Program as a leader in the global industry, with a reputation
for rigorous due diligence processes. The program, bolstered by
partnerships with other CIB programs in the OECS and collaboration with
international stakeholders such as governments, the European Union, U.S.
State Department and other relevant regulatory authorities, has been
lauded for its commitment to transparency and good governance.
The Saint Lucia Citizenship by Investment Board wishes to reiterate that it
takes the business of the State very seriously and ensures the operations of
the Unit and by extension the program remains above board and within the
regulatory requirements.
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