Clifton Bacchus says unaware Sleepin subject of money laundering probe

Businessman Clifton Bacchus today said he is unaware that his hotel Sleepin is the subject of a money laundering probe as alleged in a report in today’s Guyana Chronicle.

A statement from Clifton Bacchus, Owner, of Sleepin International Hotel and Casino Inc follows:

I read with absolute shock the blazing and bold headlines in the Guyana Chronicle, Tuesday 15th, August 2017, “Tracking the MoneySleepin boss, associates snared in money laundering probe… SOCU tells Gaming Authority investigation on since 2016;”  Any person with any modicum of common sense would quickly realise that there was a special effort and a deliberate intent to sensationalise that story in the Chronicle, having regard to the size of the headlines, the photographs and the bold pull-quote on the front page. I am absolutely bewildered by all of this.

From the article, I learnt for the first time that I, my company “and a number of associates are subjects of a money laundering investigation being conducted by SOCU which is ongoing since July 2016.” SOCU has never made any contact with me, to date. whatsoever. As far as I am aware, SOCU has not made contact with any person close to me in relation to the Sleepin International Hotel and Casino Inc.

It is public knowledge that Sleepin International Hotel and Casino Inc. has made an application to the Gaming Authority, under the law, for a casino license. That application is currently being processed. The Gaming Authority has requested some additional financial information. Efforts are underway to provide the requested information. The Gaming Authority is scheduled to conduct a site visit on the 16th of August 2017.

The documents which I have submitted to the Gaming Authority clearly establish the source of my financing: loans from local commercial banks secured by mortgages, along with monies from an overseas investor secured by loan agreements and mortgages. These documents are all filed as of record with the Deeds and Commercial Registry Authority. Copies have been submitted to the Gaming Authority. If SOCU requires them, I will gladly supply copies to them. However, as I indicated above, they have never made contact with me.

In the circumstances, it is clear to me, that some highly placed person, in Government, is executing an agenda of malice and vendetta against me with the intention of tarnishing my reputation, stigmatizing my business and jeopardizing my investments. I am fortified in this view because the Government’s newspaper is being used to do so.

What this person or persons do not understand is that they are doing untold damage to the image of this country as an investment destination. After all, which investor will want to invest in a country in which they will be exposed to this level of embarrassment, trauma and reputational damage? I hope that this person does not represent the position of the entire Government. For if this is the position of the Government, then they should simply make it clear that private investments are not welcomed in this land; that they are uninterested in job creation, rather than subject investors to denigration and public humiliation.

Comments  

U.S. mass killer, cult leader Charles Manson dies at 83

(Reuters) – Charles Manson, the wild-eyed cult leader who orchestrated a string of gruesome killings in Southern California by his “family” of young followers, shattering the peace-and-love ethos of the late 1960s, died on Sunday, prison officials said.

Local law school still on the cards – AG

Attorney General (AG) Basil Williams SC says that construction of a local law school is still on the cards and that once the University of Guyana identifies the spot at the Turkeyen Campus where it will be located, work will begin.

MovieTowne now set to open next year

The MovieTowne complex at Turkeyen, East Coast Demerara is now set to open next year, according to an advertisement in yesterday’s Sunday Stabroek.

Team Innosys wins chance to develop tax management system for local govt

Team Innosys (Innovative Systems) yesterday beat out six other competitors to emerge the winners of this year’s Hackathon, gaining the opportunity to develop their concept into a real database management system for tax collection at the local government level.

Radio Bartica launched by President

President David Granger on Saturday charged the residents of Cuyuni-Mazaruni (Region Seven) to ensure that the voice of every citizen is heard as he launched ‘Radio Bartica’ at the Bartica Learning Centre.

Your browser is out-of-date!

Update your browser to view this website correctly.

We built stabroeknews.com using new technology. This makes our website faster, more feature rich and easier to use for 95% of our readers.
Unfortunately, your browser does not support some of these technologies. Click the button below and choose a modern browser to receive our intended user experience.

Update my browser now

×