The Press also asked the PM about that hot-button issue of Sanctuary Belize. That group, along with about 24 other entities including Atlantic International Bank are named in a civil complaint by the Federal Trade Commission. The complaint names Sanctuary Belize as a massive real estate investment scam - which has defrauded hundreds of US investors. A court in Maryland granted the FTC an order shutting down the scam operation. It’s a black eye for Belize, because the properties are held on the Sittee River Wildlife Preserve, a privately owned not for profit set up by the Prime Minister’s law firm. Today, he told us that the greatest concern is for the domestic banking system that there not be any contamination by association with Atlantic International.
Latest reports say that a Maryland court has extended the Temporary Restraining Order over the Sanctuary Belize development through at least February 2019.
Hon. Dean Barrow - Prime Minister
"Number one, the wider jurisdiction, the wider financial secretary is in no difficulty. Central Bank has made sure to be in touch with the corresponding banks that service the domestic banks in particular in our jurisdiction and we're fine there. With respect to the particular difficulties that Atlantic International Bank Limited is facing, I just want to express the sincere hope that there will be able to work through the difficulties with this American federal agency. People should certainly recollect this is not a criminal complaint, it's a civil liability type proceeding but it is nevertheless extremely serious. When we talk about AIBL we're talking not just about a bank that has been able to entrench itself in our offshore banking sector. A bank that has had a stellar reputation, we're talking about the fact that locals are in the main, the owners of that bank, so of course it strikes me that all Belizeans will want to wish the bank well. In terms of exactly how they are going to handle the situation, really that is a matter which I think they should speak to the media and be public."
Reporter
"Are you concerned that international media citied it as unfortunate that your firm has worked along with the scammer?"
Hon. Dean Barrow
"Well I don't know which international media has said that. If the international media did, that strikes me as a pronouncement of no substance. What I saw was that one of the companies was incorporated, the legal work of incorporation was done by Barrow and Williams. My god man, that's what lawyers do every single day, if there had been any suggestion that Barrow and Williams was somehow involved in the operations of these companies and what the federal agency describes as the scheme, that would have been a different matter."
Reporter
"So you're not concerned?"
Hon. Dean Barrow
"Not at all."
Latest filings say, quote, “the FTC and the Receiver entered the defendants” business premises on November 7, 2018. and found new evidence of the FTC’s allegations and significant corroboration, including documents showing the relevant individuals had the roles identified by the FTC in its pleadings and telemarketing scripts showing the defendants were making the relevant claims to consumers.”
