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MONDAY, OCTOBER 18, 2021
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Fox eyes $100m hotel after New York go-free By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net ISLAND Luck’s cofounder yesterday said “a weight has been taken off my shoulders” after a federal New York judge allowed him to walk free rather than impose a minor jail sentence. Adrian Fox, now back in The Bahamas, told Tribune Business he felt “very bad” and “very remorseful” over the role he played in a human trafficking scheme some 13 years ago but said the outcome of Friday’s hearing in the southern New York federal court confirmed his “second chance” in life. Revealing that he wanted to “clear my head” before focusing on possible business opportunities, he added that the immediate focus will be the
• Island Luck co-founder: ‘Weight off my shoulders’ • ‘Very remorseful’ over ‘dumb’ human trafficking • Past decade ‘imprisonment’ with bank cut-off philanthropic and charitable activities carried out through his Fox Foundation and other avenues. Nevertheless, Mr Fox disclosed ambitions to enter the hotel business via a potential $100m investment at the former Cable Beach Manor site he has acquired next to Sandals Royal Bahamian on Cable Beach. While plans for the project are still being drawn up, he added that he was looking at a
European-style boutique hotel that could employ up to 300 Bahamians. And, with the 11-year US pursuit now ended, the Island Luck co-founder voiced optimism that commercial banks would be willing to work with him once again and allow him to open accounts, as he likened the last decade to “imprisonment” that stifled numerous commercial ventures he wanted to launch.
BAIC HEADQUARTERS
ADRIAN FOX “It’s a second chance. I’m very grateful. It worked in my favour,” Mr Fox said of Friday’s hearing, where Judge Denise Cote sentenced him to “time served”, a $5,000 penalty and one year of supervised release after he formally pled guilty to “to aiding and abetting the
SEE PAGE 7
Ex-PM signed off $40m loan day before election By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net A CABINET minister yesterday said he had no problem with Dr Hubert Minnis committing The Bahamas to a $40m loan one day before the general election as it has secured vital health funding. Dr Michael Darville, minister of health and wellness, told Tribune Business he would have been forced to seek “supplementary Budget funding” for the COVID-decimated public healthcare system had the former administration not signed the loan agreement with the Inter-American Development Bank (IDB). The loan contract, which has been seen by this newspaper, shows that Dr Minnis signed in his
then-capacity as prime minister and minister of finance on September 15, 2021, just one day before his Free National Movement (FNM) administration was voted out of office. The timing again raises questions about whether an outgoing administration should seek to bind the hands of its successor in such a manner by agreeing to such hefty financial commitments, but others will argue that the move was timely regardless given the overwhelming pressure the surge in COVID-19 infections has imposed on the overburdened public healthcare system. The $40m loan, which will finance efforts to strengthen critical aspects of the Bahamian healthcare
SEE PAGE 8
Bahamas broker: $440m action out in under four days By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net FOUR Ukrainians yesterday withdrew a lawsuit alleging a $440m fraud against a Bahamasbased broker/dealer just four days after it was filed in the southern New York federal district court. The move by Oxsana and Volodymyr Hryn, together with Elizabeth Lata, Ihor Ushenko and
their corporate vehicles, to “voluntarily dismiss without prejudice” the claims against Weiser Global Capital Markets and its senior executives also occurred just three days after a New York judge declined to hear their bid for an injunction and restraining order. Judge Naomi Reice Buchwald, in an October 14 notation, ruled that she lacked “subject matter
SEE PAGE 5
Ex-BAIC manager’s $134k win over ‘radio show’ firing By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net A FORMER Bahamas Agricultural and Industrial Corporation (BAIC) manager has won more than $134,000 after he was fired for allegedly sitting in his vehicle and joining in radio talk shows. Anthon Thompson, who in February 2018 demanded that former prime minister, Hubert Minnis, intervene over what he slammed as a “travesty” of a termination,
was found by the Supreme Court to have been both unfairly and wrongfully dismissed by the government agency. Justice Diane Stewart, in a September 22 ruling, awarded Mr Thompson $60,122 for wrongful dismissal - a sum equivalent to what BAIC offered when he was terminated. And, on the unfair dismissal, she gave him a “basic” $41,495 plus $32,700 in “compensatory” damages.
SEE PAGE 4
PAGE 2, Monday, October 18, 2021
THE TRIBUNE
GB CORAL FARM WINS £1M ON REEF REBUILD INNOVATION A GRAND Bahamabased coral farm has won £1m after being selected among the first five winners of the Earthshot Prize, which was launched by the UK’s Prince William and the Royal Foundation. Coral Vita fought off two rivals to win the Revive our Oceans category via a project billed as “an innovative approach to coral farming that can help restore our world’s dying coral reefs faster than any traditional method”.
The Earthshot Prize and Royal Foundation, in a statement announcing the winners, said: “Coral Vita’s innovative approach to coral farming - of growing coral on land then replanting it in the ocean - can grow coral up to 50 times’ faster than traditional methods and improves resilience to the impact of climate change. “As well as restoring reefs, Coral Vita works with local communities, public officials and private companies to improve education
and create new job prospects in environmental protection. “Winning The Earthshot Prize will accelerate Coral Vita’s goal to establish a global network of coral farms to grow a billion corals each year, including deploying the latest technology in coral farming as well as developing funding models to make coral restoration more financially viable for coastal communities.” Coral Vita, whose partners include the Grand
Bahama Port Authority (GBPA) and Grand Bahama Development Company (DevCO), has been working on a coral restoration project on that island. Founded by Gaitor Halpern and Sam Teicher, it is located on a canal-front lot in the Discovery Bay subdivision. “Winning the Earthshot Prize is a win for the ocean and jumpstarts scaling our impact from The Bahamas around the world,” Mr Teicher said in a statement. “We
BAHAMAS ‘SAFE HARBOUR’ FOR WEALTH ACCUMULATION A CABINET minister consistently sought to sell The Bahamas as a “safe harbour” for wealthy persons and their assets in his address to a major estate planning conference. Senator Michael Halkitis, minister of economic affairs, also told the annual Society of Trust and Estate Practitioners (STEP) Latin America conference that this nation’s financial services industry has talent that is “on par with the world’s best jurisdictions”. Describing financial services “as a big deal for us”, given its status as The Bahamas’ second largest
industry and role in developing society’s middle class, he added that this nation’s “measured approach” to innovation was focused on creating “clear wins” for clients and the jurisdiction. “Over the years The Bahamas has positioned itself as a safe haven for investors,” Mr Halkitis said. “We are a secure option for people looking to set up trusts and wealth management vehicles in stable, well-regulated jurisdiction with high levels of professionalism, expertise and service.” Conscious that it was addressing a
Spanish-speaking, Latin American audience, the Ministry of Economic Affairs provided fullytranslated promotional materials and an Internet copy targeted at that segment. Acknowledging that The Bahamas’ prosperity and stability “depends on our ability to remain competitive in attracting investors to our shores”, Mr Halkitis added: “What we have in The Bahamas is some of the strongest trust-specific legislation in the world. “We are well-regulated, globally compliant, and universally respected. We
have prioritized the Latin American market and are constantly catering to the needs of our existing and prospective regional clients.” As evidence of this, Mr Halkitis pointed to products such as the SMART (Specific Mandate Alternative Regulated Test) Fund and ICON (Investment Condominium), both of which were heavily targeted at the Latin American market when they were introduced over the past two decades. Hailing the STEP Bahamas branch as Latin America’s largest, and the sixth largest in the world, the minister added that constant reforms and innovation were critical for The Bahamas to “make our presence felt in the global financial services market”. “Successive governments have consistently demonstrated the country’s commitment to international best practices and its co-operation in the administration of justice, international tax transparency, anti- money laundering efforts, and counter financial terrorism initiatives,” Mr Halkitis added. “Across government administrations, we have displayed continuity in our commitment to strengthening our standing in the international financial services arena.”
ultimately envision massive coral farms in every nation with reefs, working sideby-side with communities, scientists, students, NGOs, governments and the private sector. “As we work to deliver ecosystem-scale restoration, failure is not an option for our political, industrial and media leaders solving for climate change and habitat destruction. The cost of inaction far exceeds funding solutions today. And those solutions exist. All we need is for those with
power and resources to act for good. Revive reefs by planting coral with us one day soon.” The £1m award will enable Coral Vita to access professional and technical support that can “scale” their technology. The Earthshot Prize and Royal Foundation said: “The Prize will enable Coral Vita to accelerate their goal to establish a global network of coral farms to grow a billion corals each year,
SEE PAGE 5
Yacht show to more than double in size By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net
THE Bahamas Charter Yacht Show will more than double in size for the upcoming 2022 event compared to its launch three years ago, the Association of Bahamas Marinas (ABM) president says. Peter Maury told Tribune Business that next February’s Bahamas Charter Yacht Show will feature 45 yachts compared to the 19 that were present in 2019, with more scheduled to confirm their attendance in the coming months. Mr Maury said: “This February the show is going to be spread out over several marinas and properties. It’s going to be bigger than the one we had in 2019, where it was split between two marinas at Bay Street Marina and the Yacht Haven, so we’ll just do a bigger version of that.” The 2021 event was held in Fort Lauderdale due to the COVID-19 pandemic. The number of brokers participating has also grown from 30 to 120, and they will be split up into groups of 30 and sent to the various marinas participating in the Charter Show. “We’ll have 30 brokers attend this marina and we’ll
have another 30 attend that marina, and we’ll just shuffle them around to all of the various marinas,” Mr Maury added. Mechanics, technicians, and provisioning suppliers will also be featured. The formal announcement of the Bahamas Yacht Charter Show 2022 will be made at this year’s Fort Lauderdale Boat Show, which deputy prime minister, Chester Cooper, is expected to attend. Concerns that have plagued the marina industry, such as the burdensome entry process for its clients, are being ironed out, said Mr Maury. “We’ve had a real stumbling block with the entry process because it’s gotten waylaid with the Click2Clear, and then we have the travel visa. Then you have the Customs and the health declaration,” Mr Maury said. “The permanent secretary and the deputy prime minister have an understanding of the implications of these entry processes, and are coming to the Fort Lauderdale Boat Show to see what’s happening, what’s new in the industry and what they can do to help Bahamian businesses.” The Fort Lauderdale International Boat Show will be held from October 27-31.
THE TRIBUNE
Monday, October 18, 2021, PAGE 3
AG URGES IT AUDITS IN PANDORA PAPERS WAKE By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net
THE Attorney General has urged all Bahamian financial services firms to assess IT security following the Pandora Papers’ disclosures since such leaks can “deal a devastating blow” to the sector. Ryan Pinder, speaking to the Bahamas Association of Compliance Officers (BACO) on Money Laundering Reporting Officers’ Day, said the Government “immediately” moved to ensure there had been no leaks from this nation’s own beneficial ownership information repository once the revelations were published. “Immediately upon the release of the Pandora Papers, BDO Consultants, the provider responsible for hosting our Beneficial
Ownership Secure Search system (BOSSs), was contacted to give us a report on the system’s security and to identify any breaches if any occurred,” Mr Pinder said. “We were notified and given a comprehensive report that reflected no breaches occurred. The system’s audit revealed a solid infrastructure protecting the beneficial ownership information uploaded to BOSSs.” The so-called “Pandora Papers” were based on the leak of confidential information, including client beneficial ownership details, from 14 international financial services providers who are headquartered outside this nation. The Bahamas has to-date received just a few mentions, with the spotlight largely focusing on rivals
RYAN PINDER such as the British Virgin Islands as well as US states. Still, Mr Pinder warned the Bahamian financial services industry could suffer significant harm, especially reputational damage, if the information collated on BOSSs or an an individual provider’s client details
were leaked in similar fashion. “We can least afford to have any financial service provider’s IT system being breached and information stolen,” the Attorney General said. “We were fortunate that none of your institutions were targeted. We wish to stress here that now is the time to perform those security IT audits and attend to any weakness identified. “This is one of those decisive measures that need to be taken by all stakeholders to ensure that no breach appears in the gates. Breaches like that of the Pandora Papers can deal a devastating blow to financial centres such as ours. One of our defenses against such reputation risk is strong IT security, and the next needed defense is that
of strong, effective compliance programmes.” The International Consortium of Investigative Journalists (ICIJ), the group behind the Pandora Papers, was previously able to obtain details on all corporate entities domiciled in this nation via the Companies Registry. However, apart from revealing the names of Board directors and shareholders, it obtained little else and most of the information held minimal value. Elsewhere, Mr Pinder said The Bahamas was soon hoping to “receive some feedback” from the European Union’s (EU) director-general for financial stability on its efforts to be removed from the 27-nation bloc’s anti-money laundering ‘blacklist’. He added that The Bahamas had been in “fight for
our lives mode” over the past five to six years due to the number of ‘grey listings’ or ‘blacklistings’ targeted at the financial services industry. However, this nation has been delisted from both the EU’s non-cooperative countries on tax matters and the Financial Action Task Force’s (FATF) antimoney laundering ‘grey list’. “We do believe that we have also been able to submit a good case for the country to be de-listed from the EU anti-money laundering blacklist and are currently awaiting further communication from the office of the EU director-general for financial stability regarding same,” Mr Pinder said. “We are quite aware that all efforts ought to be
SEE PAGE 6
‘Put a spigot in great wall’ around Bahamas By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net The Bahamas must strike a balance between “putting a spigot in that great wall” of foreign exchange control and not being “crowded out” by the outside world, a crowdfunding chief said yesterday. D’Arcy Rahming Sr, ArawakX’s chief executive, speaking at the platform’s Ecosystem
Virtual Conference, said it was seeking to flip The Bahamas’ financial model from the provision of socalled offshore services to as nearshore offering. The latter, he explained, involves “adding value” to companies and individuals in the likes of the US, Canada and Latin America, thereby encouraging them to domicile in The Bahamas. Mr Rahming Sr said both current and former prime ministers, Philip Davis QC and Dr
Hubert Minnis, understood this would require some easing of the restrictions on foreigners doing business here. “Our financial services, which has declined, has been a matter of people using The Bahamas to move great portions of wealth here,” he explained. “Unfortunately, some of it involved hiding it from other countries just purely for tax purposes. We don’t even own that industry,
yet we are considered to receive a black eye to our brand for it, and we call it an offshore financial centre. “So at ArawakX we are talking about near shore. Nearshoring means that we add value to the peoples of the United States and the people of Canada, and the people of Latin America and people of the Caribbean. We add value by having an ecosystem here where people want to be here, where they have
correct professional services and a nice safe place to live.” Mr Rahming Sr continued: “We have the authority and the power to do it, and we’re doing it. This has been very well received. I’ve had talks with both the former and present Prime Ministers, and both have understood that this is a necessary step in the evolution of our people. “We need something to put a spigot in that great
BPL: 63% of Abaco customers connected By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net BAHAMAS Power & Light’s (BPL) chief operating officer says just 63 percent of the company’s Abaco customers have “returned to base” after Hurricane Dorian devastated the island in 2019. Ian Pratt, speaking at the Abaco Business Outlook conference, said Abaco was BPL’s second-largest island by customer count preDorian but is now lagging behind Eleuthera. “At present, they are behind Eleuthera, making Abaco the third largest territory with a present customer returning to base of 5,808 consumers. There
were 9,100 prior to Hurricane Dorian,” said Mr Pratt. “Before Dorian there was a peak load of about 27 Mega Watts (MW) on the island. We had a peak this summer of about 14-and-a-half. The monthly consumption on Abaco was about 12m units and they are back to 7.3m thus far. “We are reconnecting about 152 customers on average a month and that’s over the last six months.” If the current pace continues, BPL will need 20 more months to get the island back to pre-Dorian levels. Cyprian Gibson, the Water and Sewerage Corporation’s assistant general manager for Family Island operations, said: “We have awarded and completed
some $16m in contracts. We have some short-term projects to award some $3.8m for a total of $19m in works that are pending, and then for the final phases in building back stronger we have proposed $7.5m in works. “The challenge is that persons are getting service but, to continuously improve on service in the long run, because we have changed parts of the system we want to ensure that we are thorough to ensure that all of the service laterals to all of the homes are repaired.” Mr Gibson added: “We’re very proud of our 216 kilowatt solar system that we’re about to commission in a matter of weeks, and that has been a regional project
in conjunction with Water Mission and UNICEF. “Once we commission that system we have the capacity to use solar, diesel, or use the grid - either combination thereof - for
sustainability. Power has been a challenge and we understand these major facilities, given the level of devastation, are not something that you can build overnight.
wall around us and allow certain things to come in, and provide value for them and not be overwhelmed but, at the same time, not crowded out. “There are tons of companies that are out there in the Caribbean, in our country and, of course, in the United States of America that are not receiving adequate financing because they don’t fit the ‘old boys network’ type of category.” “You can do your patchwork, you can do your restorative efforts, but major quality infrastructure requires time, especially when you’ve been affected by COVID-19 restrictions. We’ve also added a new sustainable groundwater management plan, working in conjunction with Israel aid.”
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THE TRIBUNE
EX-BAIC MANAGER’S $134K WIN OVER ‘RADIO SHOW’ FIRING FROM PAGE ONE The latter sum was awarded on the basis that Mr Thompson’s termination deprived him of a Scotiabank mortgage that would have financed completion of the “executive three-storey duplex townhouse” he was building at the time. The ex-BAIC manager said he had already paid $5,000 towards an appraisal report, quantity surveyor’s report, engineer’s report and life insurance for the duplex project, and injected $190,000 from his own personal funds into it. Justice Stewart also noted that Mr Thompson was forced to enter into an interest-only arrangement with Commonwealth Bank because the BAIC termination had left him unable to meet $1,080 in
monthly loan payments. She awarded him accrued interest on both the Scotiabank and Commonwealth Bank loans, which made up the majority of the “compensatory” award. Setting out the background to the dispute, Justice Stewart said Mr Thompson had been employed at BAIC since May 1, 2003, and assigned to its Gladstone Road feed mill from 2016 in the role of senior manager. However, despite earning $47,950 per annum together with a $6,480 annual allowance, he did not have a job description outlining his responsibilities. Rodney Forbes, Mr Thompson’s now-deceased supervisor, was also unaware of Mr Thompson’s feed mill assignment. “Despite
this, he sought to identify the Feed Mill’s weaknesses, strengths, opportunities and threats, and inform his department head of them,” Justice Stewart wrote. “He did, in fact, compile reports as needed and averred that he was always on-site but would have to sit in his truck to work due to the myriad of physical inadequacies that affected staff, clients and management. “Some of the inadequacies included insufficient space for staff members and customers on a daily basis, one shared restroom for staff and customers, and that the restroom, kitchen area, cashier station, clerk station and manager’s desk were all contained in a six foot by ten foot area. There was no privacy, and he was unable to conduct any private meetings with management, staff or clients.” As a result, Mr Thompson “resorted” to sitting in his vehicle during his final few months at BAIC given the absence of seating at the feed mill. “The alternative for him and other staff members was a dilapidated building on the compound where staff often gathered or the production plant floor while feed was produced therein,” Justice Stewart added. “He maintained that the production plant was inadequate as the air ventilation system and the ceiling fans were not functioning, and there were several deficiencies on the floor of the plant that were hazardous to management.”
TO ADVERTISE TODAY IN THE TRIBUNE CALL @ 502-2394
PRIMARY TEACHING JOB OPPORTUNITY Second Grade Teacher
A well-established, independent primary school in Nassau is seeking a full-time qualified SECOND GRADE teacher for the end of October 2021. Candidates should have sound classroom experience, a passion for educating young minds, experience with Google classroom and virtual teaching, a professional attitude and work ethic, a friendly and cooperative disposition, a willingness to work in a team environment, and strong communication and organisational skills. The successful candidate will be required to: • Prepare, plan and deliver all lessons and curriculum both face to face and virtually • Show strong classroom management skills • Assess students and write detailed termly reports • Communicate positively with students, parents and colleagues. If you think you have the commitment, passion and energy for our school, please forward your resume, introduction letter and two references by email to
timetoteach242@gmail.com We look forward to hearing from you.
Mr Thompson alleged that complaints he made about the working conditions to Arnold Dorsett, a former department head of agriculture; Troy Sampson, then-BAIC general manager; Vernita Rhodenwalt, head of human resources, and former BAIC executive chairman, Dion Smith, produced no action. He was also removed from the Agriculture Department’s What’s App group. “He only called into the radio talk shows during his break or his lunch break, which would be anywhere between 7.30am to 10am for 15 minutes, and between 1pm to 2pm for an hour,” Justice Stewart noted. “The radio was always on during the day in the Feed Mill’s office. He denied that he failed to perform his duties because he would be calling into radio talk shows during the day.” However, Ms Rhodenwalt sent all BAIC staff an e-mail in September 2017 telling them they were limited to calling into radio talk shows during their lunch hour. And, on December 18, 2017, Mr Thompson received a letter from BAIC’s Board telling him to stop calling the radio shows during work hours, which he felt undermined “his right to freedom of speech”. The termination letter received on February 1, 2018, came “as a complete shock” given that Mr Thompson had been speaking to BAIC’s human resources department at that time over a threemonth vacation leave so he could obtain treatment for a spinal cord injury. He alleged that there had been no prior warnings or concerns raised about his conduct. However, Mr Sampson, as BAIC’s then-general manager, argued that Mr Thompson was warned in an August 17, 2017, letter
about behaviour “amounting to gross misconduct and neglect of duties” due to him sitting in his work vehicle; calling into radio talk shows; arriving late to work; and “abandoning your post for hours” during the day. Mr Sampson alleged he saw complaints about Mr Thompson from his late supervisor, Mr Forbes, and BAIC’s Board issued a directive to terminate his employment. However, he admitted the feed mill was “in a wanting state” and that plans to upgrade it never happened. Finding that, as a manager, Mr Thompson was not covered by the industrial agreement involving BAIC line staff, Justice Stewart noted that the agency “did not dispute the working conditions” that forced him to work in his vehicle. And no evidence was produced as to how often he called into radio talk shows to back up the “dereliction of duty assertion”. While BAIC had “an honest belief” that Mr Thompson was guilty of such conduct, Justice Stewart said the letters given to him were “directives to cease and desist as opposed to invitations to respond”. As a result, the ex-feed mill manager was not given a chance to rebut the allegations against him, which was “in breach of the rules of natural justice” and resulted in unfair dismissal. “He was not informed that the defendant [BAIC] was minded to dismiss him, and he was subsequently not given an opportunity to present any mitigating factors or contrary evidence to dissuade the defendant from dismissing him,” Justice Stewart ruled. This was also the basis upon which he was found to have been wrongfully dismissed. However, Justice Stewart declined to order that Mr Thompson be reinstated
due to the “breakdown in the working relationship” with BAIC and his lack of a job description. The Tribune’s archives record Mr Davis and Fred Mitchell, now-minister of foreign affairs, identifying several of the dismissed workers as Progressive Liberal Party (PLP) supporters. While Mr Thompson was not mentioned as such, he was represented in his Supreme Court case by Philip McKenzie, Glenda Roker and Creswell Sturrup. All three are attorneys at Davis & Co, the now-prime minister’s law firm, although he is no longer active or practicing there. It also appears likely that Mr Sturrup is the former permanent secretary in the Prime Minister’s Office under the Christie administration who has now been recalled by Mr Davis to public service. Others dismissed from BAIC at the same time as Mr Thompson included Latrae Rahming, former press secretary for Mr Christie. Mr Thompson blasted at the time: “I am being pushed on the unemployment line unfairly and unjustly. This is unacceptable and I say to you, Dr Hubert Minnis, the prime minister of this nation, I am looking forward to you, I am calling on you to correct this wrong. “This is nonsense. You said it is ‘the people’s time.’ I am a Bahamian so I am a part of the people and I am calling on you, sir, as prime minister of this country, to call in to account BAIC’s executive board, BAIC’s chairman Michael Foulkes, BAIC’s general manager and all persons who had a hand in this nasty thing that happened to me today (Friday).”
PRIMARY TEACHING JOB OPPORTUNITY Temporary full time Primary Art Teacher needed A pre-eminent, well-established, independent, international school in Nassau is seeking a temporary full-time qualified ART TEACHER for employment between 25th October and the 10th December (with possible further). Candidates should have sound classroom experience; a passion for art and innovative education; a professional attitude towards work; a friendly and cooperative disposition; a willingness to work in a team environment; experience of online and in class teaching; a determination to grow professionally; and strong communication & organisational skills. The successful candidate will be required to: • Prepare and deliver well-planned learning experiences and curricula for learners aged 3 to 11 • Differentiate curriculum objectives to support a diverse range of learners • Show consistent, compassionate, classroom management skills • Assess student learning and produce detailed reports • Use learning data to inform and adapt instruction • Contribute to the co-curricular programme and whole-school activities in a committed and enthusiastic manner • Maintain high standards of professionalism • Communicate positively with parents, staff, and administration Please forward your resume and introduction letter by email to teachingbahamas@gmail.com.
THE TRIBUNE
Monday, October 18, 2021, PAGE 5
BAHAMAS BROKER: $440M ACTION OUT IN UNDER FOUR DAYS FROM PAGE ONE jurisdiction” - meaning that the southern New York federal court lacks the authority to deal with the case. The voluntary dismissal, though, does not prevent the Ukrainian quarter from refiling the action/claims with a different court at another date. The four and their numerous corporate vehicles had effectively sought an asset freeze against Weiser and its affiliate, Weiser Asset Management, and senior executives Christos Livadas (also known as Chris Livas); Christos Papaioannou; Jamaal Stubbs; Shelby Brice; Courtney Filipenko; and Rahul Kirpalani. They had also wanted the New York court to rule that the Bahamian firm,
Alan Cole & Co, produce all financial records relating to Weiser for the years from 2018 through to 2021 in its capacity as the broker/ dealer’s accountant. It is unclear whether the failure to effectively shut down Weiser’s business resulted in the lawsuit’s withdrawal. And Tribune Business efforts to obtain comment from Weiser on the matter also drew a blank. This newspaper initially sought to reach Mr Stubbs, who was named as Weiser’s point person in the list of Securities Commission registrants, when it contacted the Balmoral Corporate Centre-based broker/dealer for comment. However, it was informed that he had previously left the company although
there is no suggestion that is related to this lawsuit. Tribune Business was told to send an e-mail to a specific address, which it did, adding that a response was required by yesterday, but no reply was received. The woman who this newspaper spoke to said she was unaware of the New York lawsuit. The Ukrainian quartet’s multiple corporate vehicles, which are domiciled in various jurisdictions including The Bahamas, Belize and St Kitts and Nevis, often adopt the names of ‘blue chip’ and not-so ‘blue chip’ financial companies such as State Street and Bear Stearns. Their original action alleges that they used these vehicles to make loans, which are secured
GB CORAL FARM WINS £1M ON REEF REBUILD INNOVATION
FROM PAGE TWO
year, including deploying the latest technology in coral farming as well as developing funding models to make coral restoration more financially viable for coastal communities. “Winning will accelerate Coral Vita’s scaling plans, helping them to build new coral farms and work with other leading organisations to kick-start a restoration economy around the world that people everywhere can be part of.” Jason Knauf, chief executive of the Royal Foundation of The Duke and Duchess of Cambridge, said: “Coral Vita presents an incredible way to regenerate coral reefs at much faster rates than previously possible, whilst also being economically sustainable. “Coral Vita’s work and leadership will shine a light on what can be done to restore our world’s dying
corals, and inspire people around the planet to support the restoration and protection movement.” Prince William added: “Our five inspirational winners show that everyone has a role to play in the global effort to repair our planet.
We need businesses, leaders, innovators and communities to take action. And, ultimately, we need all of us to demand that the solutions get the support they need, because the success of our winners is our collective, global Earthshot.”
against shares and other securities owned by the borrower. They claim that Weiser was retained as a custodian to receive the assets pledged by borrowers as collateral; remit the cash loans made by the Ukrainians; and manage the collateral assets via various depository accounts. However, the Ukrainian quartet subsequently alleged that these collateral assets were removed by Weiser from the depository
accounts without their permission. “When plaintiff beneficial owners contacted defendants in order to inquire about what was taking place, their inquiries were entirely neglected despite the fact that the depository accounts continued to show diminishing balances in excess of tens of millions of dollars, sometimes in a single day,” the Ukrainians claimed. “In total nearly $290m in cash and approximately
$150m in securities has vanished from the plaintiffs’ depository accounts within a period of days without explanation, and without any ability by the plaintiffs to gain access to same.” These allegations have now all been withdrawn and dismissed within the space of four days. There is nothing to suggest Weiser, its executives, owners, staff and employees have done anything wrong in relation to the matter.
PAGE 6, Monday, October 18, 2021
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Crowdfunder hits ‘tourist tech’ path By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net ONE of the first entities to seek capital in The Bahamas via crowdfunding says it has created “tourist-tech” via technology that co-ordinates the visitor experience in-country. Marcian Cash, chief executive of Bahamas Myfi, told the inaugural Arawak X Ecosystem Virtual Conference that he has produced the “world’s first travel
companion and destination specific companion” based on technology. “We use geolocation services, Wi-Fi, but we also use augmented reality and that is what kind of ties our platform together,” he explained. “We are designed to bring consumers and vendors together in an ecosystem that is so easy to use, so interesting and so immersive. “Our platform has many different profit centres, including not only advertising and commission, but
self-guided tours, virtualisation services, Wi-Fi and data, merchandise sales and, above all, a universal payment gateway.” Bahamas Myfi’s “Groove Tourism” marketplace, Mr Cash said, provides a modern solution to problems that have plagued vendors and tourists. “Based on the insights that we have gathered over a period of years, we did a whole lot of research and we felt what tourists were feeling in our marketplace and around the Caribbean
as well,” he added: “With technology we were able to answer those needs and we invite you to come and experience growth.” Bahamas Myfi is about “democratising” the tourism industry through giving more opportunities for people to participate in the industry. “We have a back-end system that we call a productivity suite, which we pretty much give away for free,” Mr Cash said. “We have these tools that will allow smaller businesses - and even larger businesses - to reach tourists in a way with reactionary advertising, because our platform is online and it is immediate and it is always running. “One of the things we found is that a lot of companies, let’s say they are doing
tours and they will go out with half a boat. They are not able to say, two hours before the trip, that they only have half of a boat, and even if they were able to say it, how would they say it.” Calling these details something the Groove Tourism marketplace was designed to capture because it is “so rich”, Mr Cash added that advertisers would jump at the opportunity to have such information on tourist habits and interests. He said: “One of the reasons why we came up with this platform is we realised that this space is owned by international companies, and these international companies are not vested in the Bahamian market. “They’re not vested in any of the local markets, and
because they’re not vested, they have no interest in really trying to showcase all of those things that tourists actually want. What tourists want is a locally0-curated experience. They want to have a friend in The Bahamas, they want to have somebody who can take them around, and that is what our platform tries to do.” Specialised tours are something the Ministry of Tourism has been trying to develop as a way to diversify the tourism sector. Mr Cash said: “Because our technology is so smart we’re able to do things like bundle transportation along with it, so we can take disparate parts of a tour and bundle them together without the two separate vendors.”
AG URGES IT AUDITS IN PANDORA PAPERS WAKE FROM PAGE THREE concentrated on such de-listing due to the negative impact it has had on
financial services and the wider economy in transacting business with Europe.” He acknowledged that implementing the legal and
PUBLIC NOTICE
INTENT TO CHANGE NAME BY DEED POLL The Public is hereby advised that we, Rajiv Gregory Pollard Roberts of P.O. Box N-9745 of Bartlett’s Subdivision & Charlene Joseph of St. Vincent Road parents of JADE KAYLISA HUTCHINSON a minor, of the Southern District of New Providence intends to change our child’s name to JADE KAYLISA POLLARD ROBERTS. If there are any objections to this change of name by Deed Poll, you may write such objections to the Chief Passport Officer, P.O.Box N-742, Nassau, Bahamas, no later than thirty (30) days after the date of publication of this notice.
regulatory reforms necessary to escape these lists, “and undergirding them with the appropriate sustaining infrastructure and manpower”, had been challenging due to the enormous costs imposed by Hurricane Dorian and COVID-19. Calling on Bahamian financial institutions to stop working in “silos”, Mr Pinder added: “Risk and compliance units (if not combined) should work together and focus on ensuring that a comprehensive enterprise-wide risk assessment is carried out. “If one has been done, and is more than two to three years-old, a refresher should be undertaken to ensure any emerging risks are captured.” He said compliance officers, as the industry’s “gatekeepers”, will have to adapt to the new products and services being offered - especially digital assets - to help keep any unscrupulous actors at bay. “Certainly ensuring compliance with international best practices does demand decisive measures, but I also want to emphasise survival in this era of what seems to be constant change also requires decisive measures in product development, new offerings and active promotions in order to effectively differentiate ourselves and ensure a growing industry,” Mr Pinder added. “I don’t want you to forget that as we advance ourselves as an industry and as a country. Innovation is still the tool of success and growth.”
THE TRIBUNE
Monday, October 18, 2021, PAGE 7
FOX EYES $100M HOTEL AFTER NEW YORK GO-FREE FROM PAGE ONE
grossly negligent operation of a vessel” in relation to a human trafficking scheme. The US federal authorities had sought a term of up to six months’ imprisonment for Mr Fox, but Judge Cote decided against this on the basis that he withdrew from the scheme voluntarily before being caught and had since committed himself to charitable activity that had bettered many lives in The Bahamas. The Island Luck cofounder, though, yesterday voiced his regret at becoming involved in human smuggling, describing it as “a dumb decision that should never have been made” and urging young Bahamians to “stay true to who you are” and not be lured down the same path he was. “I feel like when you are young you do crazy things, dumb things that kind of hurt you for the rest of your life,” he told Tribune Business. “I’ve been suffering for the last ten to 11 years, and now feel like a weight has been taken off my shoulders.... “I feel very bad for what I did. I feel very remorseful for what I did. I told the judge that. I was very ignorant and very dumb. What I’ve learned is that
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sometimes you make mistakes in life but you cannot let them keep you down. You can always change. You don’t have to live the life and keep doing the things you do.” Despite avoiding jail, Mr Fox said his personal and business life had suffered the consequences of having US federal charges hanging over him for more than a decade. “For the last ten years it’s been like imprisonment,” he said. “Everybody looks at you differently. I can’t do business. I can’t do business with no bank. It handicapped me so much, and I wanted to do more. “The banking industry, once they kick you out, you cannot move. I hope now that this is over, I hope they’ll open their place of business for me so I can have accounts and do business with me.” Some observers, especially those opposed to web shop gaming, may disagree with Mr Fox’s assessment given that Island Luck’s profits soared since the time he ended his involvement with human trafficking, and
he has still been able to engage in other profitable ventured at the same time. Web shop gaming is a divisive issue in Bahamian society, with significant segments both for and against it, but there is little doubt that Mr Fox’s philanthropic and charitable activities have impacted hundreds of lives in depressed communities on New Providence or elsewhere. Asked whether he now plans to pursue fresh business opportunities, Mr Fox replied: “I have to just relax a bit, clear my head..... I’m getting tired of business right now. I will put Adrianna [daughter] in charge of business. I need to clear my head. It’s been a long time. I feel very good and happy about the outcome. I never want to go through this again.” Still, Mr Fox indicated that the pause may only be temporary. “I want to build a hotel on Cable Beach,” he told Tribune Business. “I have some property over there, and want to get some Bahamians employed. “The plans are being drawn up now, so maybe in
12 months I will start and try to get some things going. We’re looking at investing $100m in the hotel and will have 300 Bahamians employed. We need to get more Bahamians involved in the hotel industry.” In the meantime, Mr Fox said his “mission” will be to help The Bahamas become “a better place”, with a focus on keeping “young men on track”. Noting that many young Bahamian men lack young “father figures” and role models in their lives, he added: “We cannot put young men in prison any more, and treat them like animals. “That’s no way to reform. We have to teach them how to better themselves, become better people in life and part of society.” Mr Fox confirmed that an expatriate UK neighbour in Ocean Club Estates, Nick Maughan, had spoken to him about bringing a UK charity the latter is involved with, BoxWise.UK, to The
Bahamas to aid troubled youth. BoxWise, according to its website, is a non-profit that focused on improving health and self-confidence among young persons in a disciplined environment that has boxing as a core activity designed to provide a structure for these efforts. Mr Fox, meanwhile, said he was focused on cleaning up his home community of Kemp Road and other inner city areas in a bid to rid them of derelict cars and other waste. And he added that he has already spoken to the area’s MP, Wayne Munroe, about creating a community centre for Kemp Road where children without Internet access - due to power outages or other disadvantages - will be able to learn and do homework. Tribune Business triggered a political firestorm two weeks ago when it revealed that the Prime Minister and two of his Cabinet ministers, just over
a month before they were elected to office, had written character testimonies on Mr Fox’s behalf to Judge Cote to support his bid for a lighter sentence. The opposition Free National Movement (FNM), fresh from losing the general election, immediately blasted Philip Davis’ support for Mr Fox as “astonishing and reprehensible”. However, Mr Fox yesterday reiterated his disappointment with the FNM’s position, adding that he has previously donated to all parties. “I was kind of disappointed that the FNM took that stance when they know they’ve taken money from me as well, not only in this election but the last election,” he added. “I don’t roll with any party. I’m a nationalist. I want to sake this country grow for our sakes and everybody else’s. It’s time for us to stop thinking as PLPs and FNMs, and do what’s best for our country and children.”
PAGE 8, Monday, October 18, 2021
THE TRIBUNE
EX-PM SIGNED OFF $40M LOAN DAY BEFORE ELECTION FROM PAGE ONE
system, was signed off by the IDB’s Bahamas country representative, Daniela Carrera-Marquis, on August 11, 2021, meaning that waited a full month for the Government to signoff with the country in the throes of a general election campaign. Dr Darville, though, took the less stringent view on the timing of Dr Minnis’ signing, saying: “I’m going to give them the benefit of the doubt. Any time the Government talks about strengthening the healthcare system in The Bahamas, whether it signs a day before a general election or months before, is a good thing. “In this economic environment, we definitely need the funding. It’s $40m over a
five-year period. We intend to use this efficiently, and ensurer we get value for money........ For me, coming in, when we look at budget allocations and the way COVID-19 has stretched the healthcare budget to the limit, if this facility was not in place I would have to get supplementary Budget funding to deal with this.” However, while the Davis administration is “going to plan”, Dr Darville said one immediate priority was to upgrade many of the Family Island clinics. “I have to use it very efficiently for the Bahamian people to help our healthcare infrastructure,” he added. “We have so many deficiencies as we speak that it will be very difficult for us to provide service at the level the Bahamian people expect of us.”
Dr Minnis could not be reached for comment before press time last night, despite this newspaper leaving messages and texts. However, an annex to the $40m loan contract said the monies are intended to “support the strengthening of The Bahamas’ health system to meet the population’s needs”. The goals include integrating the primary and secondary care services variously offered via the Public Hospitals Authority (PHA), Department of Public Health and National Health Insurance Authority (NHIA). Improved healthcare efficiency is another desired outcome, along with “improved access, coverage and quality” through a community-centred model. Some nine primary care health clinics in seven
different islands are to be constructed and/or retrofitted, although the locations are not identified. Almost $18m has been set aside for this purpose, with another $10m allocated for the healthcare system’s modernisation and $8m to improve the healthcare delivery model. The Bahamas is due to receive $60m in total from the IDB in healthcare-related financing, with a separate $20m facility having been dedicated to the fight against COVID-19. That facility, obtained under the previous Minnis administration, is understood to have some $11m-$12m still available to the Government. According to the IDB, that $20m loan was designed to strengthen the Ministry of Health’s
response management, improve case detection and monitoring, support the purchase of COVID-19 vaccines and the vaccination plan, assist the actions to break the illness’s transmission chain and improve service delivery capacity. There are four components that include strengthening the response leadership at the country level by enhancing decision-making capabilities, surveillance, assessment, public health management, and multi-sectoral coordination.
The programme was to improve case detection and monitoring by expanding the Ministry of Health’s capacity for screening, case detection, contact tracing, and tracking of COVID-19 cases. It was also to support the COVID-19 vaccination strategic plan to reach the target vaccination of the prioritised groups as well as the procurement of vaccines, the design, and implementation of a public communications campaign, epidemiological surveillance at entry points, and the necessary supplies.
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LEGAL NOTICE
N O T I C E EXXONMOBIL EXPLORATION AND PRODUCTION MALAYSIA (VENTURES) LIMITED N O T I C E IS HEREBY GIVEN as follows: (a) EXXONMOBIL EXPLORATION AND PRODUCTION MALAYSIA (VENTURES) LIMITED is in dissolution under the provisions of the International Business Companies Act 2000. (b) The dissolution of the said Company commenced on the 13th day of October 2021 when its Articles of Dissolution were submitted to and registered by the Registrar General. (c) The Liquidator of the said Company is Daniel A. Bates, of 22777 Springwoods Village Parkway, Spring, Texas 77389, U.S.A. Dated the 18th day of October, A.D., 2021 HARRY B. SANDS, LOBOSKY MANAGEMENT CO. LTD. Registered Agent for the above-named Company LEGAL NOTICE
N O T I C E EXXONMOBIL EXPLORATION AND PRODUCTION MALAYSIA (VENTURES) LIMITED Creditors having debts or claims against the above-named Company are required to send particulars thereof to the undersigned c/o P.O. Box N-624, Nassau, Bahamas on or before 9th day of November, A.D., 2021. In default thereof they will be excluded from the benefit of any distribution made by the Liquidator. Dated the 18th day of October, A.D., 2021. Daniel A. Bates Liquidator 22777 Springwoods Village Parkway Spring, Texas 77389 U.S.A.
PAGE 10, Monday, October 18, 2021
THE TRIBUNE
FARMERS AND JOHN DEERE SUPPLIERS WORRY ABOUT STRIKE’S IMPACT WATERLOO, Iowa (AP) — Farmers and Deere & Co. suppliers are worried about what the strike at the tractor maker’s factories will mean for their livelihoods. More than 10,000 Deere employees went on strike last week at 14 Deere factories in Illinois, Iowa, Kansas, Colorado and Georgia after the United Auto Workers union rejected a contract offer. The longer the strike continues, the greater the impact will be on the communities around the plants. “If this gets sorted out in a couple of days, great,” Brian Jones, who farms in
central Iowa, told the Des Moines Register. “But if it drags out for weeks, you start to get a little concerned about things.” Lance Lillibridge, who farms in eastern Iowa near Cedar Rapids, said he worries about not having parts should his John Deere combine break down. “We have a lot of big equipment out here that we’re using to bring in a harvest, and if a part breaks down that we can’t get, we’re done,” said Lillibridge, who is also president of the Iowa Corn Growers Association board.
JOHN Deere Dubuque Works union employee Steve Thor pickets outside UAW Local 94 in Dubuque, Iowa, on Thursday, Oct. 14, 2021. More than 10,000 Deere & Co. workers went on strike Thursday, the first major walkout at the agricultural machinery giant in more than three decades. Photo:Jessica Reilly/AP
Burk “Skeet” Miehe of American Pattern & CNC Works in Cedar Falls, Iowa, said his business was doing OK initially because
it worked ahead to meet orders from Deere. “If it does go longer, it could affect us,” Miehe told
the Waterloo-Cedar Falls Courier. Casting Cleaning Inc. in Cedar Falls, which does chipping and grinding work of foundry castings for John Deere, was closed Friday because of lack of work, but company President Shannon Closson said it’s expected to reopen Monday. “Long term, (the strike) would be very detrimental
to our business. Short term, we’ll be able to power though and get through it,” Closson said. At John Deere equipment dealer Sloan Implement in Fulton, Illinois, store manager Eric Maloney said the business is doing the best it can to manage through the strike, as well as supply chain problems related to the coronavirus pandemic.