TCI News
TCI attorneys named in Argentinian money ‘washing’ investigation
#Providenciales, March 22, 2019 – Turks and Caicos – Days of social media stories, conjecture and concern as Turks and Caicos attorneys Peter Karam and Anthony D’Aneillo are named in an investigation originating out of Argentina.
It is a money laundering case and it is reported that D’Aneillo, was several weeks ago, arrested by Interpol in the United Arab Emirates.
The situation has been covered extensively by South American media outlets and today, Peter Karam, who is in Providenciales has replied with a media statement admitting that he is assisting in the probe.
The statement informed that, “Mr. Karam is cooperating fully with authorities to provide the necessary investigative assistance and this underscores his commitment to ensure that the truth and accuracy of the allegations is cast into the light.”
Karam, who is a partner in Karam and Missick law firm in the TCI and The Bahamas used the opportunity to declare that he is innocent.
“Mr. Karam strongly denies any wrong doing whatsoever in relation to the allegations brought forward in the investigation.”
It is a matter where the widow of a close staffer of the ex-leader in Argentina – Carolina Pochetti – was allegedly connected to funds earmarked for a resort investment which was to happen in North West Point, Providenciales.
The tens of millions of dollars are said to be derived from alleged bribery and were to be used, reportedly, to buy large tracts of land for development.
“High standards and a commitment to compliance and integrity is always maintained; this is my confidence as I cooperate with the investigation,” said Peter Karam, Attorney-at-Law and Partner.
Mr. Karam assured that “Business continues as usual at Karam & Missick” despite the ongoing investigation.”
It was also said in the statement that, “Peter Karam enjoys the support of his partners, locally and internationally.”
That support for Peter Karam will come in handy as this is a diabolical criminal matter pointing to a system of alleged corruption from which massive amounts of money were earned and then allegedly attempted to be ‘washed’ clean through legitimate investments.
According to news agencies based in The Americas, the Federal judge in the case, Claudio Bonadio, since February, reportedly requested permission from the UK for the intervention of their Ministry of Foreign Affairs to access information in the alleged ‘money washing’ scheme.
Access in the Turks and Caicos and Northern Ireland is specifically outlined.
Carolina Conchetti, the widow of Daniel Muñoz (former private secretary to Argentina president, Nester Kirchner) was arrested and interrogated in October 2018; she has since been released.
The full media statement from Peter Karam is published at MagneticMediaTV.com.
#magneticmedianews
#PeterKaram
# AnthonyDAneillo
#moneylaundering
TCIG knew from April that fuel factor could surge almost 80%; Minister says $500 cost-of-living payment was part of Government’s response
PROVIDENCIALES — The Turks and Caicos Government knew months before July’s shocking electricity bills that consumers faced a potentially massive increase in the fuel factor.
Minister of Information Technology and Energy E. Jay Saunders revealed Friday that Pelican Energy warned his Ministry in April that generation fuel costs were projected to rise from $3.09 per gallon in May to $4.79 in June and July.
That translated into a projected fuel factor jump from about 17.5 cents to 31 cents per kilowatt-hour — an increase of almost 80%.
Saunders said he personally advised Cabinet of the projected increase and presented options for cushioning the impact.
He characterised Government’s $500 cost-of-living payment as its “initial response” to rising fuel costs, before a separate fuel-factor subsidy was approved.
Cabinet records show Government agreed on June 24 to provide funding to mitigate the fuel-factor impact, with the relief programme approved July 8.
Eligible residential customers — those averaging less than $1,500 monthly over the previous three bills — are capped at 22 cents per kWh from July through October.
Pelican confirmed Friday that Government’s contribution was already applied to July bills, meaning the bills now triggering widespread public outrage would have been even higher without the subsidy.
Saunders did not disclose the programme’s total cost.
His admission that Government knew since April, however, raises another question amid the backlash: why were consumers not directly warned by Government about the scale of the approaching increase?
PROVIDENCIALES — New commercial Crown Land applications are facing a six-month pause as the Turks and Caicos Islands Government takes inventory of its holdings.
During Cabinet meetings held July 15 and 16, an immediate six-month moratorium was approved on the acceptance, processing
and approval of new applications for commercial Crown Land grants, leases and allocations.
The pause will remain in place pending completion of the Crown Land Inventory Review. Cabinet’s summary did not state what prompted the review or indicate whether availability of commercial Crown Land is a concern.
The two-day meeting also advanced major consumer legislation. Cabinet approved the National Fair Competition Policy 2026 and drafting instructions for a Fair Competition Ordinance, moving TCI toward stronger consumer protection and fair competition rules.
In Grand Turk, Cabinet approved rezoning land in the North West Suburbs from low-density to medium-density residential use to facilitate a new apartment development.
Cabinet also advanced fisheries reforms, water legislation allowing private and public-private investment, minerals legislation and appointments across tourism, health and finance.
Progress toward establishing a TCI Credit Union was also noted.
PROVIDENCIALES — Major development projects outside Providenciales received Cabinet attention on July 8, with Government approving agreements connected to the redevelopment of Dellis Cay and a resort development in North Caicos.
Cabinet approved a Development Agreement between the Turks and Caicos Islands Government, Desarrollos Hotelco DC Ltd. and
Desarrollos Hotelco Astoria Ltd. for the redevelopment of Dellis Cay.
The long-discussed private island development sits between Providenciales and North Caicos and its return to Cabinet signals another step toward redevelopment.
Cabinet also approved amendments to an agreement involving SPR LND Ltd. (Royal Reef) and TCIG Development Agreement for a resort/hotel development in North Caicos.
Other decisions included approval of the First Supplementary Appropriation Bill 2026 for onward transmission and the appointment of Cindy Ewing as Chair of the Invest TCI Board, effective August 1 for three years.
Cabinet also noted consultation outcomes concerning changes to business licensing, approved professional membership expenses for qualifying Telecommunications Commission staff and approved advice relating to the Interim Clinical and Estates Services PPP.
The July 8 meeting was chaired by Acting Governor Anya Williams.
Photo Credit: Royal Reef (Keith)
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