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SIPT settles with Sandals for $12m PDF  | Print |  E-mail
Written by Administrator   
Friday, 25 January 2013 08:18
The Special Investigation Prosecution Team (SIPT) and the Turks and Caicos Islands Government (TCIG) announced this week they have reached an agreement with Sandals and its directors and officers in respect of the SIPT investigations. In a statement released to media Wednesday, Jan 23, few details were revealed.

"This agreement is without any admission of liability by the company, its directors and/or officers. It does not however prevent the prosecution of any other persons in respect of any facts and matters," the statement read.

"The agreement, which involves a payment of USD$12 million to TCIG, is due in part to the co-operation of the company with the United States authorities to a degree that has been acknowledged to be both extraordinary and unique and included the early and voluntary release of valuable evidence that has been shared with the SIPT. That information has materially assisted SIPT's investigations."

This is the fourth such settlement SIPT has negotiated since beginning its investigations in 2009. 

In December 2011, Attorney General Huw Shepeard agreed to accept $1.25 million from U.K. businessman John Gill to settle all criminal and civil issues discovered by SIPT. No details of the allegations against Gill were ever revealed. In July 2012, bribery charges against millionaire developer Jak Civre were dropped in return for his payment of $4,750,000 plus $250,000 in costs.

Developer Mario Hoffmann’s companies paid $7 million to the Turks and Caicos Islands government to settle civil claims involving a proposed development on Salt Cay, government revealed Aug. 7, 2012.

Several cases against former government ministers are on-going. 

 

 

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