Connect with us

News

Desarrollos Owners accused in Ponzi scheme; could jeopardize TCI Ritz Carlton

Published

on

Providenciales, 13 Apr 2015 – Seems a four year investigation by the SEC of the United States has come to public attention, and only now are we learning that the company which had for years been courting the Turks and Caicos Islands Government to build a new hotel in Grace Bay has a scandal surrounding some of its executive moves.
This scandal seriously threatens the construction of the Ritz Carlton which was recently announced as poised for construction start in November this year; a $224 million agreement.

Online reports are revealing that the Desarrollos Hotelco is embroiled in a court case where it is alleged the company received $15 million dollars from a company which has confessed to a Connecticut court, its orchestration of a $300 million Ponzi scheme.

This is nasty business once again for the Turks and Caicos as the country is falling in less than favorable light for missing the allegations which reached the courts in the US since June last year.
It was the Governor’s Office which in October 2012, before a new elected government came to office, gave credence to the interests of the Desarrollos Group.

At the time, the report was headlined that three hotel agreements valued at $500 million dollars were signed by then Governor, Damian Ric Todd.

We learned then that the Desarrollos Hotelco first visited the TCI in March 2011 and that the company worked with the Investment Unit and Horton Realty to acquire 10.5 acres of land.

The Venezuelan company reportedly had meetings with the Planning Department, the Airports Authority and hired KPMG TCI as consultants on the development which was originally proposing three hotels all together; at the time the brand being touted was Marriott.

In October 2012, Governor Ric Todd remarked: “This is the best possible vindication of the new Turks and Caicos Inward Investment Policy, management structure and approach to attracting inward investment on the best terms for the taxpayers of the Turks and Caicos. This confirms that major international investors are impressed by the reforms that we have made over the past three years…”

The irony of these remarks plays out regrettably in many of the reports surfacing online now; residents reaching out to Magnetic Media about this erupting scandal want to know how the UK appointed and TCI elected governments both missed the allegations of corruption and what these reports mean, if anything, to the recently signed agreement.

We have reached out to both the Office of the Premier and the Governor’s Office on this matter; up to news production time, there was no response.

The court document, which is available online and which we reviewed, says: “…payments from the Receivership Entities directly to entities controlled by Walter Stipa for the benefit of Romeo Mouawad, Miguel Mouawad, and Jespa Mouawad” – all are named as owners in the Desarrollos Group of companies – it continues: “These funds must be returned to the Receiver for distribution to the defrauded victims of Connecticut’s largest Ponzi scheme.”

Magnetic Media is a Telly Award winning multi-media company specializing in creating compelling and socially uplifting TV and Radio broadcast programming as a means for advertising and public relations exposure for its clients.

News

DEPARTMENT OF TOURISM REGULATIONS INTRODUCES “RATE YOUR RIDE” SYSTEM FOR TOURISTS VISITING THE TURKS AND CAICOS ISLANDS

Published

on

FROM THE MINISTRY OF TOURISM

 

Providenciales, Turks and Caicos Islands, 27th March, 2024 – Providenciales, Turks and Caicos Islands: The Department of Tourism Regulations is proud to unveil the “Rate Your Ride” system, a new initiative designed to enhance the vacation experience for tourists exploring our picturesque islands.

The “Rate Your Ride” system empowers tourists to provide valuable feedback on the quality of transportation services they receive while visiting the Turks and Caicos Islands. Through an easy-to-use online form, tourists can rate factors such as cleanliness, comfort, safety, and professionalism of drivers, helping us to assure the highest quality of service standards across all modes of transportation.

By participating in the “Rate Your Ride” system, tourists play a crucial role in shaping the future of transportation services in the Turks and Caicos Islands. Their feedback will enable us to identify areas for improvement and ensure that every visitor enjoys safe, comfortable, and convenient travel throughout their stay in the Turks and Caicos.

The code will also be publicly accessible through the cooperation of volunteer drivers who will make the rating code available in their vehicles. Flyers and stickers displaying the code will be distributed at hotels, resorts and airports. The mandated display of these codes is expected to align with the rollout of our tourism regulations in 2025.

For more information about the “Rate Your Ride” system and other initiatives by the Department of Tourism Regulations, please visit gov.tc/tourismregulations/or contact us via telephone at 946-4970 and email at tourismregulations@gov.tc.

Continue Reading

News

THE DEPARTMENT OF BEHAVIOURAL HEALTH SERVICES CONDEMNS RECORDING OF PERSONS WHO ARE IN CRISIS

Published

on

FROM THE MINISTRY OF HEALTH AND HUMAN SERVICES

 

Providenciales, Turks and Caicos Islands, 27th March 2024– The Department of Behavioral Health Services is appealing to the general public to refrain from recording and circulating videos of persons who may appear to be experiencing a mental health crisis. Anyone can experience a mental health crisis at some point in their life. According to the World Health Organization, 1 in 4 people will experience a mental health problem in any given year. Persons may struggle with very common conditions such as Anxiety and Depression or be diagnosed with more serious conditions like Bipolar Disorder or Psychosis.

“There are a lot of misunderstandings about various mental health conditions and how they may manifest. In addition, there are a number of negative perceptions and misconceptions that society exhibits towards people with mental health problems. However, just as we would show care and concern for someone diagnosed with Cancer, or any other physical illness, in the same way, we need to be as caring and helpful to persons with mental illnesses”– stated Director of the Department of Behavioral Health Services, Dr. Alicia Malcolm.

The Department is urging the public to call the following numbers if you see someone who appears to be experiencing a mental health crisis:

338-5473/338-3616: Providenciales, North or Middle Caicos

338-3614/338-3612: Grand Turk, South Caicos, Salt Cay

338-6301: Nights and Weekends

If someone is putting themselves or someone else in immediate, serious risk of harm, call 911.

The Department of Behavioral Health services is here to help and provides the following services which are free and confidential:

Location of above services:

o             Sam Harvey Building, Down Town, Providenciales,

o             Primary Health Care Department, Cheshire Hall Medical Center, Providenciales 

o             Department of Behavioural Health, Duncombe Alley, Grand Turk

 

Let’s all do our part in creating a community where people with mental health problems feel respected, supported and cared for. 

For additional information, please visit the Ministry of Health’s Facebook page on https://www.facebook.com/tciministryofhealth/ or the Department of Behavioral Health Services Faceebook on https://www.facebook.com/TCIDBHS/.

Continue Reading

News

Breaking Ground: TCI Could Lead in Regional Communication Standards

Published

on

Cardiff, Wales, United Kingdom, 27th March 2024: The PR, marketing, and communications sector is poised for potential growth and could lead the Caribbean region in terms of industry standards says Damian Wilson. Wilson’s suggestion comes after the release of a new research report into the current trends and future direction of the sector as a possible emerging industry in the Turks & Caicos Islands (TCI).

Wilson is the report’s author, which conveys the findings of research which he initiated. “One of the key research results is the considerable optimism by industry practitioners and government alike, with persons seeing growth potential. I believe that we can become regional leaders in this field. I believe that one of the initiatives that could be used to do this is by establishing a ‘TCI Centre of Communications Excellence’ within the TCI Community College. Such an institute would be dedicated to communication and media innovation with a particular focus on digital communications and ICT,” says Wilson.

He further explained, “I believe that the PR, marketing, and communications sector, like much of the country, is at a crossroads and could have an even greater impact on our socio-economic fabric. Some may have concerns about our small size, but I believe this makes us far more agile than our neighbours. All in all, any potential growth must be underpinned by new investments, professional development, and a strategy to integrate the sector into the broader economy.”

Wilson also said that he sees his research as a first step in understanding our own industry sectors in the TCI and would love to see more profound research and analysis conducted. He’s hoping that the report will spark discussion along those lines. The report is entitled ‘Current Trends and Future Direction: A Preliminary Report on the PR, Marketing, and Communications Sector in the Turks & Caicos Islands’. Anyone wanting a copy of the report can contact Damian Wilson via his email, damian.wilson.pr@gmail.com.

Continue Reading

FIND US ON FACEBOOK

TRENDING