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BASSETERRE, ST. KITTS – In a stunning development that has rocked the Citizenship by Investment (CBI) world, the Government of St. Kitts and Nevis has terminated its investment agreement with MSR Media SKN Ltd. and MSR Hotels & Co. Ltd., following what it describes as blatant and repeated contractual violations. The fallout has now deepened with the revocation of Phillipe Martinez’s controversial appointment as the Federation’s first-ever CBI Public Benefactor, a role he was quietly awarded in 2023.

The Government confirmed that the MSR companies failed to deliver on major investment promises, including the renovation and operation of hospitality infrastructure, employing agreed numbers of locals, and producing film projects as promised. Even more alarming, the Government accuses Martinez and MSR of launching a coordinated international campaign to discredit the CBI Programme and making false and damaging allegations against Government officials — accusations that have been described by Prime Minister Dr. Terrance Drew as malicious and extortionist in nature.

But the plot takes a jaw-dropping twist.

Despite these deep concerns, Martinez had been granted the highly influential title of Sole Public Benefactor under the revamped CBI Programme back in 2023 — a position that gave him outsized sway over public benefit investment streams. This controversial appointment raised eyebrows then, and has now exploded into full-blown scandal as the Government moves to strip him of the title in the wake of mounting allegations and non-compliance.

The Drew administration, which once championed Martinez and MSR as model investors, is now publicly denouncing him, signaling a dramatic and politically charged reversal that has opened the Government to criticism of gross hypocrisy and poor judgment.

“The Government reiterates its zero-tolerance policy toward abuse of the CBI Programme,” the statement read, underscoring a renewed effort to enforce compliance and protect the integrity of the country’s most lucrative investment stream. Yet critics argue the damage may already be done, as international scrutiny intensifies and doubts are cast over the decision-making within the CBI Unit.

This latest episode in the MSR saga has sent shockwaves throughout the region, raising serious concerns about who is granted power within the CBI ecosystem and how such appointments are vetted.

As St. Kitts and Nevis moves to clean house, the question remains: How could a man now labeled as an “extortionist” have ever been handed the keys to one of the Federation’s most critical economic engines?