Grenada pledge action against American investor
The Government is promising to take “appropriate action” against investor Charles Liu who acquired citizenship under the country’s “Citizen By Investment” program. Officials have agreed to cooperate over the investigation into his alleged fraud scheme.
“Through our diplomatic channels, the Government of Grenada continues to monitor the situation, to communicate with all diplomatic and other sources, and continues to fully engage mutual cooperation with all the parties concerned,” said a government statement. “The Government of Grenada stands ready to take the appropriate action as the facts are ascertained.”
Liu, who also committed to a multi-million-dollar tourism project in Mt. Hartman, Grenada last year, has been charged with violating U.S. anti-fraud laws. Along with partner Xin “Lisa” Wang, Liu has been charged by The Securities and Exchange Commission has for running a visa scheme misusing two-thirds of the US $27 million raised from dozens of Chinese investors seeking visas.
According to the SEC, the funds were to be invested in a cancer treatment facility, a project that would have helped Chinese investors obtain permanent U.S. immigration visas under a federal program known as EB-5. However, the funds were reportedly transferred to three firms in China, including one in which Liu is chief executive and chairman. Some US$7million allegedly went into the couple’s personal accounts. And no construction has started at the proposed facility site more than 18 months after the couple began taking investments.