|Resort chain agrees to $12m settlement with TCI|
|Written by JASON SMITH|
|Wednesday, 30 January 2013 14:50|
The chain Sandals Resorts, which operates the Beaches Turks and Caicos resort, will pay the TCI government the funds “without any admission of liability by the company,” according to a press release from the TCI’s Special Investigation Prosecution Team.
The group is attempting to recover millions of dollars believed to have been misappropriated during the government of former premier Michael Misick, which ended in 2009 after United Kingdom officials assumed direct rule, temporarily suspending most of the TCI’s constitution.
According to the SIPT, the agreement with Sandals “is due in part to the co-operation of the company with the US authorities to a degree that has been acknowledged to be both extraordinary and unique and included the early and voluntary release of valuable evidence that has been shared with the SIPT.”
See the Jan. 31, 2013 edition for full coverage.