The Tribune

By YOURI KEMP

Tribune Business Reporter

ykemp@tribunemedia.net

Cat Island business owners are urging the Government to conduct proper “due diligence” on a $60m resort project after its principal developer accepted US sanctions over his role in a $122m investment fraud.

Jason Russell, owner/operator of Favor’s Service Centre, Old Bight, told Tribune Business that the island needed the economic boost from a project such as the proposed Almost Paradise resort. “Where they are putting the resort, nothing is there at all. The land is behind God’s back almost, so that’s no problem at all,” he added.

However, he raised concerns about its principal, Manjit Singh ‘Roger’ Sahota, consenting to a lifetime ban on “acting as an officer or director of a publicly-held entity” as well as a permanent bar on involvement with corporate vehicles in the US oil and gas industry that are offering securities to investors. This came after he was charged in the US, along with others, by the Securities Exchange Commission (SEC), the capital markets regulator.

“The Government shouldn’t leave whether this project should proceed or not to us to decide, because they have their policies and they should work within their policies. When they do a background check and these fellas aren’t straight, then they shouldn’t let them in here,” Mr Russell said. “Tell government don’t put that jive on us. Tell them to do their due diligence, and if they say this guy is in a scandal, do their investigation. If he is guilty, don’t let him come in here.

“We need to make it known to government that Cat Islanders are saying that they need to do their due diligence. Don’t leave it to Cat Islanders to make the decision, because people need jobs badly, and they will say to let this investor come in. But I don’t care how much money you have. If you are wicked and you have scandals, then I don’t need you here because eventually it will spill over.”

Denise Bethel, owner/operator of Hidden Treasures Restaurant in New Bight, said: “If the project is real then I welcome it, and we welcome any project that’s going to provide employment for the island. Cat Island is not like the other islands like Abaco and Exuma, where in those islands the economy is boosted by tourism, and so we welcome that sort of thing on Cat Island.”

As for Mr Sahota’s legal woes, she added: “Whoever had the dream or idea to boost the economy of Cat Island, it was a great idea, and the money he invested is like any other investor. He saw an opportunity and it went belly up, so he probably made the wrong choice. I do commend him for looking at Cat Island and trying to pump money into the community.

“I just hope Cat Islanders can benefit from what comes next, whether it proceeds or it goes to the market, whether another investor takes it over or the Government decides to scrap the project. We just have to wait and see. I’m just hoping the US courts get their money back from Mr Sahota’s private assets and leave Almost Paradise alone.”

Grace Dorsette, owner/operator of the Bluebird Restaurant and Bar, added: “I think this project will be good and it will be bad. It would be good because people would get some much-needed jobs, but it would be bad because with these investments comes the crime and the violence. Cat Island doesn’t need that. This is a peaceful place and we don’t need it disturbed.

“The children today are not like us when we were growing up. It’s like they can’t settle things peacefully. Everything is a fight, and if it’s a fight then they want guns and they want knives. I would appreciate the business, but as I said it would be good and it would be bad.”