The Government of St Kitts and Nevis has asked Les Khan to step down as the Head of the Citizenship by Investment Unit. The decision comes as many developers expressed their concerns about Khan to the Government.
Khan, who is originally from Trinidad, served as CEO of the Citizenship by Investment Unit of St Kitts and Nevis since 2015. It has come to light that there have been various allegations that Khan has taken kickbacks from a developer, and in exchange, he favoured the developer by allocating thousands of CBI applications under a special project.
Les Khan had been infamous for his involvement surrounding the multi-billion prison project under the leadership of former Prime Minister Timothy Harris. To CBI, this project has been highly controversial, so much so, that the new Government is now undertaking a thorough investigation into the matter to find out the level of Khan’s involvement in this project. His involvement was one of the focal issues during the elections and fuelled the loss of Timothy Harris’ Peoples Labour Party, after a Middle East based news channel Middle Eastern Times reported the “prison scandal”
After St Kitts and Nevis Labour Party formed its majority government in the Federation in August this year, the Government were approached by local developers and international agents to commence a thorough investigation into the matter of the prison project. Les Khan and others involved will be charged if found guilty in the “prison scandal”.
St Kitts and Nevis Government said such behaviour would not be tolerated and are committed to ensuring that the country’s programme will remain the “Platinum Standard” of Citizenship by Investment industry globally.
The call for resignation has also been spurred by disgruntled CBI stakeholders who are dissatisfied by the Khan’s performance, as he has hardly been in Unit in the past 18 months. Reports suggest that Khan has remained out of the country and often visited the United States. His continued absence from CIU is among the factors that were considered as the government calls for his resignation.
Several industry leaders have commented that this move is the best outcome for the country. With Khan’s resignation, the Citizenship by Investment Unit is expected to perform exceptionally and retain its “Platinum Standard of CBI” as the Government roll out their robust plans to revolutionise the programme.
The St Kitts and Nevis Citizenship Programme is lauded as the most popular CBI programme as well as noted as the world’s first and longest running programme in the world. Ranked number one by the Financial Times for two years running, St Kitts and Nevis remains one of the best options for individuals seeking a trusted alternative investment option. St Kitts and Nevis passport continues to be the strongest in the region.