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Sterling Global Financial Launches Sterling Bank & Trust

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Nassau, Bahamas – May 26, 2016 – Bahamas-based Sterling Global Financial, an integrated banking and financial services provider with more than US$9 billion in assets under administration and operations in The Bahamas and Cayman Islands, today announced the launch of Sterling Bank & Trust.

News of the latest bank to bolster the Bahamas financial services portfolio was made at a press conference in Nassau by Sterling Global Financial Chairman David Kosoy and welcomed by two prominent members of The Bahamas Cabinet, Minister for Investments Khaalis Rolle and Minister for Financial Services Hope Strachan.

“As the world of financial services continues to evolve, Sterling Global continues to strategically grow our range of services from providing trust and investment vehicles, something the original company did more than 40 years ago, to today adding full private banking capability to meet the needs of a highly sophisticated client base,” said Mr. Kosoy.

Sterling’s clients number over 1,500. They invest through one or more of its several funds, including the award-winning New Providence Income Fund (NPIF). In 2015, NPIF reported an overall return of 13.8% and earned the highest secure fund ranking on the Sharpe Index two years running. Earlier this year NPIF was honoured as Best Fixed Income Mortgage Backed Fund (Since Inception) by AI Barclay Hedge Fund awards.

“The new world of financial services is a far more transparent space than it once was,” Mr. Kosoy said. “High net worth individuals or trusted institutional investors are no longer seeking the secrecy they once did. The rules have changed. They want to know their investment is secure and the companies acting on their behalf are doing so with efficiency, attention to detail, understand the market and are quick to respond. In other words, today’s success story is all about service – speed, savvy, security.”

Sterling Financial Global capitalizes carefully selected real estate projects with debt and equity lending. NPIF funding has supported development of more than $300 million in high-end residential and resort projects in The Bahamas, including luxury villas on Paradise Island, resorts in Abaco and Eleuthera and renovations of a multi-storey hotel opposite Nassau Harbour at Bay and Nassau Streets in downtown Nassau. It is also funding THIRTY/SIX, the first new luxury condo project on Paradise Island in a decade. With ground set to be broken soon, THIRTY/SIX is more than 50% sold.

Earlier this month, Sterling Global Financial unveiled its new website, http://www.sterlinggloballtd.com/, featuring a corporate section focused on information and news about the company’s services as well as background on the firm’s well-appointed board of directors, including Mr. Kosoy, President and COO Stephen Tiller, former president of BMO Nesbitt Burns Real Estate Inc. in Canada; and, Mike Harris, the former Premier of Ontario.

The site features a client portal where investors can manage banking, documents and fiduciary services securely online from any device.

“The new banking capability, like the new website, reflects the high ethical standards and client-centric services inherent to Sterling Global,” Kosoy said. “We constantly strive to create a comfort level for our investors, marrying the best of convenience with the highest level of security. As the world of financial services looks to the future, there will be more client-facing portals that enable presentation of information and financial strategies, including any potential risk, in a clear and relatable way online. Sterling is proud to be at the forefront of this type of information sharing and practical application for our clients who can now manage their financial affairs with greater ease. It’s this kind of service that has helped us grow to a full-fledged banking and financial services provider with a staff of nearly 40 professionals.”

Sterling Bank & Trust, immediately available for current clients of the boutique property-based investment firm, will operate out of the firm’s East Bay Street location across from Nassau Harbor.

 

CAPTION:

Sterling Global Financial, an integrated banking and financial services provider with more than US$9 billion in assets under administration and operations in The Bahamas and Cayman Islands launches Sterling Bank & Trust, the latest bank to bolster the Bahamas financial services portfolio. Pictured l-r: David Kosoy, Chairman Sterling Global Financial; Hon. Hope Strachan, Minister of Financial Services; Hon. Khaalis Rolle, Minister of Investments & Steve Tiller President & COO Sterling Global Financial. (Photo by Cay Focus Photography)

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“Politician-1” Frenzy Intensifies After Plane Crash Survivor Allegedly Misses US Court Appearance

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The Bahamas, May 22, 2026 – Questions and speculation intensified across The Bahamas Thursday night after Eyewitness News reported that Jonathan Eric Gardiner — the Election Day plane crash survivor now accused in a major international cocaine trafficking conspiracy — was allegedly a no-show for a scheduled US court appearance.

The latest development adds yet another dramatic twist to a case that has already pushed the country into political and social fever pitch.

Gardiner first appeared in federal court in Orlando on May 15 following his arrest on a New York federal warrant tied to a DEA investigation into alleged cocaine trafficking operations running through The Bahamas into the United States.

But the case exploded nationally after US federal affidavits repeatedly referenced an unnamed Bahamian political figure identified only as:  “Politician-1.”

The filings allege meetings connected to a proposed cocaine shipment and references to political protection for trafficking operations.

No politician has been publicly identified by US prosecutors.

Still, the mystery has consumed the Bahamian public.

Talk shows, social media timelines, Parliament corridors and street corners have erupted with demands for answers, including headlines declaring:  “TELL US WHO IS POLITICIAN 1.”

Public speculation has centered heavily around West End MP Kingsley Smith, who has denied any involvement in drug trafficking or cartel activity.

The controversy became so intense this week that Smith was reportedly heckled inside Parliament while taking his official oath of office.

Adding to the surreal nature of the case are reports carried by The Tribune that some passengers aboard the doomed flight were ordinary Bahamians trying to return home to vote after missing another flight connection on Election Day.

What began as a dramatic survival story involving 11 rescued passengers floating in waters off Florida has now transformed into a sprawling scandal involving alleged drug trafficking, political intrigue, DEA affidavits and mounting national anxiety.

The Tribune has also reported alleged links between Gardiner and construction-related business dealings, while US court documents reportedly describe cash-filled envelopes labeled for “Politician-1” in language investigators viewed as consistent with narcotics payment structures.

For many Bahamians, the story now feels almost unbelievable: an Election Day plane crash, an accused drug kingpin, references to Parliament, public outrage and now questions surrounding an alleged missed US court appearance.

And with official answers still limited, the fever surrounding “Politician-1” appears only to be growing.

Angle by Deandrea Hamilton. Built with ChatGPT (AI). Magnetic Media — CAPTURING LIFE.

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Three Biggest Takeaways From Commonwealth Observers Include Bahamas Campaign Finance Reform

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The Bahamas, May 22, 2026 – A Commonwealth Observer Group reviewing The Bahamas’ May 12, 2026 General Election has praised Bahamian voters and the country’s democratic traditions — while also raising major concerns about campaign finance laws, media fairness and the lack of a political code of conduct.

The interim report, issued May 14 and led by former Jamaican Prime Minister Bruce Golding, described the election as peaceful and orderly overall, but signaled that several longstanding democratic reforms still remain unresolved in The Bahamas.

CAMPAIGN FINANCE REFORM

Perhaps the strongest language in the report focused on the continued absence of campaign finance legislation.

The Commonwealth warned there remains: “no statutory framework governing the registration of political parties and the regulation of political contributions and campaign expenditure.”

Observers said that absence: “continues to undermine accountability and contributes to public cynicism regarding the influence of money in politics.”

The report stressed that the relatively small size of Bahamian constituencies makes the country especially vulnerable to concerns over political influence and spending.

The Observer Group said: “The relatively small size of the Bahamian electorate in each constituency makes it especially vulnerable in this regard.”

The recommendation itself is not new — and that was part of the concern.

The Commonwealth pointed out that similar recommendations were made after the 2017 and 2021 elections.

This time, however, the language became sharper: “Ten years after this recommendation was first made by a Commonwealth Observer Group, its implementation has become more urgent.”

VOTERS AND DEMOCRATIC CONDUCT COMMENDED

Even with those concerns, the Group strongly praised Bahamian voters and election workers for maintaining calm and order throughout the election process.

In one of the strongest commendations of the report, observers stated: “We applaud the people of The Commonwealth of The Bahamas for once again exercising their franchise in a peaceful and orderly manner. The Bahamas has a proud democratic tradition, and that tradition has once again been affirmed.”

The Group also commended polling officials for: “the efficiency and professionalism with which they discharged their duties.”

Police, defence force officers, political parties and party agents were also praised for contributing to what observers described as a peaceful election environment.

The report specifically noted the: “maturity of Bahamian electoral culture.”

MEDIA FAIRNESS AND ACCESS

The Commonwealth also raised concerns about media fairness and political influence within parts of the Bahamian media environment.

While the report praised press freedom and described Bahamian private media as vibrant and active, observers said they received complaints about perceived bias and political alignment.

The report stated:  “The vibrancy of private broadcasters and the country’s print media is commendable.”

But it also noted:  “reports of the close relationship between the owners of private media houses and the main political parties and perceptions of biased reporting that this created.”

Observers additionally raised concerns over misinformation and the tone of discourse on social media platforms during the campaign.

The report also revisited concerns surrounding the Broadcasting Corporation of The Bahamas, urging balanced political access and equitable election coverage.

The Commonwealth further encouraged the creation of: “an independent media association to support and regulate media professionals”

along with a media Code of Conduct designed to foster: “greater accountability and fair coverage of election campaigns.”

CODE OF CONDUCT FOR POLITICAL PARTIES

The Observer Group also renewed calls for political parties to formally establish rules governing campaign behavior and political engagement.

The report urged political parties, in consultation with civil society, to develop:  “a Code of Conduct for Political Parties and Candidates.”

According to the Commonwealth, such a Code should clearly define:  “the manner in which campaigns are conducted, standards of civility in public discourse and personal attacks on opponents on social media.”

The recommendation was also made after the 2017 and 2021 elections, signaling what observers see as a continuing need to formalize standards of political behavior and campaign engagement in Bahamian democracy.

The Commonwealth Observer Group is expected to issue a final report with additional recommendations in the months ahead.

Angle by Deandrea Hamilton. Built with ChatGPT (AI). Magnetic Media — CAPTURING LIFE.

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Pintard Stays On As FNM Leader After Heavy Election Loss

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The Bahamas, May 22, 2026 – Despite a national election result many political observers view as a clear rejection of the Free National Movement as an alternative government, Michael Pintard will remain leader of the party — at least for now.

Just one day after the General Election, the FNM announced Pintard had been unanimously endorsed to continue as leader and would be sworn in as Leader of His Majesty’s Loyal Opposition on Monday, May 18.

In its official statement, the party said: “Michael C. Pintard will be sworn in as Leader of His Majesty’s Loyal Opposition.”

The FNM also insisted the decision followed: “a transparent and democratic consultation process with multiple bodies of the Free National Movement.”

According to the statement, the consultations involved: “the elected officers of the FNM, the Executive Committee, the Central Council and newly elected FNM members.”

The party further stated that Pintard was: “unanimously endorsed to remain in this post.”

But the speed of the endorsement and the absence of any broader delegate consultation is already fueling questions internally and externally about whether the party’s wider membership was truly consulted before the decision was finalized.

The FNM won eight seats in the country’s expanded 41-seat Parliament, while the Progressive Liberal Party secured a commanding 33-seat victory.

Numerically, the FNM did not dramatically lose ground compared to the previous election cycle. But politically, many analysts say the outcome was far more damaging than the seat count alone suggests.

The PLP not only returned to office comfortably but saw nearly every incumbent candidate re-elected — a rare feat for a governing administration during a period marked globally by voter frustration over inflation, migration pressures and economic strain.

For many observers, the result signaled that while portions of the electorate may have desired change, a significant number of Bahamians still did not see the Pintard-led FNM as the preferred vehicle for that change.

Instead, many voters either stayed home, supported the Coalition of Independents, or remained with the Davis administration’s “progress” mandate.

Unofficial turnout estimates suggest national voter participation may have fallen near 58 percent — potentially the lowest turnout in modern Bahamian election history if confirmed.

Inside the FNM, concerns are now swirling over the future direction of the party and whether Pintard remaining at the helm delays deeper renewal efforts.

Magnetic Media has been made aware of internal discussions and circulating voice notes suggesting fractures within sections of the party following the election result.

The concerns appear centered around whether the party moved too quickly to settle leadership questions before broader consultation with delegates and supporters could take place.

The FNM, however, insists a broader review is coming.

In its statement, the party said: “The renewal process of the Free National Movement will be democratic, disciplined and deliberate.”

It also pledged: “a fulsome post-mortem that engages even more of our members, supporters, and the wider Bahamian public.”

The statement added that the review process: “will rightly include a full national party convention.”

Still, critics note the irony surrounding Pintard’s decision to remain.

During his rise to leadership, Pintard had sharply criticized former Prime Minister Hubert Minnis for refusing to step aside quickly after the FNM’s 2021 election defeat.

Now, some political observers argue Pintard is facing similar criticism himself following another disappointing national result for the party.

The issue has also become ammunition for the governing PLP.

PLP Chairman Fred Mitchell publicly suggested the FNM is in disarray, pointing to the defeat of Deputy Leader Shanendon Cartwright, who lost his parliamentary seat in St Barnabas.

Notably, Cartwright was not appointed to the Senate, meaning he currently has no parliamentary role as the party attempts to regroup and rebuild.

That omission has triggered additional speculation about internal dynamics within the opposition.

Meanwhile, Pintard and the remaining FNM MPs are preparing to return to Parliament as a significantly outnumbered opposition facing a strengthened PLP government and one of the largest Cabinets in Bahamian history.

Whether the FNM ultimately rallies around Pintard or whether deeper internal divisions emerge in the months ahead may determine how viable the party remains heading toward the next general election.

Angle by Deandrea Hamilton. Built with ChatGPT (AI). Magnetic Media — CAPTURING LIFE.

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