LOUIS BACON
By AVA TURNQUEST
Tribune Chief Reporter
aturnquest@tribunemedia.net
BILLIONAIRE hedge fund manager Louis Bacon has called the release of private emails and sensitive banking information of Save The Bays (STB) an unlawful abuse of power that threatens the entire financial services industry.
In a lengthy statement, Mr Bacon said the public broadcast of unauthorised access to private financial and corporate information in Parliament was a “misguided act of political retaliation”.
He said he was shocked that his character would be villified and castigated by the Progressive Liberal Party (PLP) Members of Parliament despite the “disgusting disrespect” displayed by his Lyford Cay neighbour Peter Nygard.
Mr Bacon said: “Nassau has been a major offshore banking and funds management centre and nothing strikes worry in financial fiduciaries more than the intrusion and publication by political powers of supposedly private banking records and private organisational correspondence, a concern I share in.
“Never in a thousand years would I have thought it would be a sitting member of the Government of The Bahamas who would use unauthorised access to private financial and corporate information to try to destabilise me or an affiliated organisation by putting this information in the public record, on television!
“For such a politician to undermine the sanctity of personal, business and banking information and to do so as a misguided act of political retaliation, threatens the very foundations of commerce and foreign investment in The Bahamas.”
He continued: “I am actually stunned at the audacity of this lawlessness - a breach that threatens to cascade my fears broadly to international investors - a grave disservice to Bahamians.”
Mr Bacon said: “If I am wrong that his acts are illegal, then I do not think international investors realise how tenuous the sanctity of their personal, business or banking information is in The Bahamas if they run afoul of certain politicians or powerful individuals.”
Last week, Marathon MP Jerome Fitzgerald accused STB of being a political organisation seeking to “overthrow” the PLP government under the guise of an environmental group. Fox Hill MP Fred Mitchell further claimed that some $8.25m has been filtered through various organisations connected with STB - locally and internationally - from 2013 to 2015. Mr Fitzgerald referred to several private emails.
The disclosures came as part of a fierce political debate over claims included in a murder-for-hire lawsuit against the Canadian fashion mogul by Mr Bacon and several other STB directors.
“It is highly disturbing that certain Bahamian politicians are vigorously urging the further persecution of the already frightened Plaintiff-Victims in the harassment suit with wildly trumped up claims and allegations of small potential infractions in the way the discovery of the harassment proceeded,” he said, “a harassment suit that was filed in civil and not criminal court”.
In the lengthy rebuke, the billionaire hedge fund manager called the accusations that his group’s appeals to the courts to stop the years of harassment and intimidation by his Lyford Cay neighbour were a veiled attempt to overthrow the government “ludicrous”.
Mr Bacon furthered that “certain Bahamian political leaders are bewilderingly doing their utmost to silence the plaintiffs and any charitable organisations they belong to instead of going after the accused malefactor”. He welcomed calls for investigations by the FBI and the IRS, which he called “long overdue”, adding that it should be a bi-partisan initiative that covered all foreigners.
Mr Bacon also defended his charity, the Moore Charitable Foundation, as an organisation that prioritised environmental and educational giving. In addition to being a financial backer for STB, he said donated millions of dollars in the Bahamas including gifts to the Bahamas National Trust, Nature Conservancy Bahamas, BREEF, and the Rotary Club.
Mr Bacon said those donations dwarfed those that he gave to both political parties “in like amount in the low six figures” to the political campaigns of the PLP in 2007, and to the Free National Movement in 2012. He said that he gave money because, as a property owner and resident, he supported the environmental policies held by the leaders of the parties at the time.
He concluded: “I urge both parties to come together at a time when national unity would seem to be imperative, and focus on the national issues at hand that warrant a change of course in protecting the good name of The Bahamas - protecting individual rights domestically and that of investors in the international financial service industry - rather than focusing on internecine score-settling.”
Comments
Sickened 8 years, 8 months ago
Mr. Bacon is absolutely right. What the PLP is doing is disgusting and is threatening a very important industry in The Bahamas.
The PLP are out of control and need to be removed immediately.
birdiestrachan 8 years, 8 months ago
Mr: Bacon has to much to say, it seems to me he seeks to damage the Bahamas. when the News media publish that Mr Ishamel Lifgthboure was behind in his mortagage no problem. when they said Ms: Pindling owed property taxes no problem. I guess it was all right they were from over the hill so they did not matter. Mr: Bacon just can not stand those Black people driving or walking the streets of Lyford Cay. only maids and those who cleaned their yards were allowed to do so. Mr Bacon the Bahamas has done well, before you came and we will do even better when you are gone. The God we serve will not leave us.
Sickened 8 years, 8 months ago
I didn't realize that you know him personally. Are you his house Nig**?
realfreethinker 8 years, 8 months ago
Everytime birdie type a comment he,she or it turns out to be a bigger ass than before. Do you know the implications of such an act ?
jus2cents 8 years, 8 months ago
The rich will be less inclined to invest here and reluctant to donate after this debacle, that's for sure!
Without 'foreigners' donating and helping with our charitable organizations I'm sure a lot will fail. We reap what we sow.
Please let's do the right thing.
birdiestrachan 8 years, 8 months ago
Now that the god Bacon has spoken should all the Slaves say Amen thank you master. he does not mean us well that is why he puts all of this crap out there. Him and the out spoken QC do not mean us well.
asiseeit 8 years, 8 months ago
I have never heard a word from Bacon, I have heard the words of Nygard. Disrespect for the P.M., our highest court, and our laws, were clearly uttered by one. There were implications of debts that needed to be paid, property transfers, so said. No problems with that? No outrage?
sheeprunner12 8 years, 8 months ago
This can become quite intriguing for The Bahamas ........... these are powerful men with ties to a wide web of monied interests in the world .......... we are walking on egg-shells right now
Economist 8 years, 8 months ago
The government has worked hard to withhold information in everything that they do so business cannot count on certainty. They have abused Parliamentary Privilege in the last few days.
The government has proved that, when it suits them, they will release sensitive information that should not be disclosed.
In short they have proved to the world that The Bahamas is not a good place to be doing business.
themessenger 8 years, 8 months ago
Birdie, you truly won't be satisfied until the PLP have once again reduced this country to subsistence fishing and farming. They'll be stittin pretty and smilin while the rest of us ga be back to pickin peas from s.....t. Man your ignorance can't done.
realfreethinker 8 years, 8 months ago
birdie is a complete and utter asshole there is no changing that type of mind set Wrong is only wrong depending on who does it
realfreethinker 8 years, 8 months ago
Double F..k the plp
birdiestrachan 8 years, 8 months ago
It is Bacon and the out spoken QC who does not wish the Bahamas or its people well, and would like to see the Bahamas return to a fishing village. Now from my personal experience for the most part have always found FNM;s to be people with very mean spirits, Now I must add to that they have filthy mouths. what is in the heart comes out on the lips. it shows character
Gladiator 8 years, 8 months ago
Birdie do you happen to be racist?
B_I_D___ 8 years, 8 months ago
So Birdie...since you mentioned it...you try to align Bacon with the stories of Ishmael and others who are not paying their owed taxes and plunging the Bahamas into debt...are you implying that Mr. Bacon has unpaid back taxes and is causing a financial drag and disservice to the poor Bahamians?
asiseeit 8 years, 8 months ago
No she is trying to equate a private persons affairs to one that is a civil servant.
Publius 8 years, 8 months ago
And Bacon is so interested in the stability and reputation of The Bahamas, right?
DEDDIE 8 years, 8 months ago
Our politician are not too smart. How in the world do you put it out in the public domain that you have the banking information on someone with the type of bacon that Bacon has.Our banking sector is already in the dump because of dumb politicians. You don't think that the democrats know whats in Donald Trump tax returns but not one of them would commit political suicide by doing what our politicians would threaten to do.
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