Barbados under successive governments has taken great pride building an offshore sector that is respected. While other offshore domiciles have chased quantity, Barbados has targeted the quality International Business Corporations (IBCs) by creating a rigorous legislative regulatory framework. We have no doubt that Minister of Foreign Affairs Chris Sinckler and his Junior Minister Donville Inniss would want to build on the good work done by those who have preceded them. It is against this background that we have decided to highlight a matter which has been drawn to our attention.
The matter concerns 80 year old Canadian John Doe and Bridge Management (Barbados) Incorporated – (IBC registered in Barbados). We have given our commitment to our source that we will withhold certain information to ensure that confidentiality is respected. We ask the BU family to bear with us as we try to highlight how a man in the twilight of his years needs the help of the Barbados government to resolve a financial dispute ongoing for approximately three years. The fact that the dispute involves an IBC domiciled in Barbados has the potential to tarnish the good reputation of a sector which successive Barbados governments have worked hard to guard against.
Based on the documents we have seen John Doe has made several investments over a period of 14 years with Bridge Management (Barbados) Inc. The amount accrued in the period is significant. The problem which Mr. Doe now has is that despite his investment contracts having expired with the local company he has been unable to get his money back from Bridge Management (Barbados) Inc. This company currently operates from 2002 Worthy Downs, Graeme Hall, Christ Church, Telephone # 418 7000. Bear in mind that this is an 80 year old man who is currently operating through other parties to have this matter resolved.
Although an acknowledgment redirecting this matter to <!–[if gte mso 9]> Normal 0 the Ministry of Foreign Affairs, Foreign Trade and International Business for follow-up action has been received from the Prime Minister’s Office dated 16 May 2008 – Our Ref: DS511. We appeal on behalf of an old man (John Doe) for the government of Barbados to investigate this matter with urgency.
<!–[if gte mso 9]> Normal 0 Our investigation lists two known principals in Bridge Management (Barbados) Inc. There is Canadian Sebastien Mecca who is a Vice President and who we understand is currently being sued at the Municipal Court in Montreal by some other investors. There is Barbadian Andrew Murray who manages the local operation. Bridge Management (Barbados) Inc based on our investigation continues to operate business as usual in Barbados, while an old man in Canada wonders if he will get his money back. We are concerned that the government of Barbados has been unacceptably tardy in responding to queries raised about this matter.
On behalf of John Doe we are asking our authorities to respond to the outstanding queries made on his behalf. If his money is gone he and his family deserve to know so that they can take further action. The longer it drags on, which is what we suspect the principals of Bridge management (Barbados) Inc are hoping, the money trail will fade. If the Barbados authorities investigate this matter further they will realize that that other issues are at play.
If BU with limited resources can find out what we know about this potential fraud, we can’t imagine what the government of Barbados would be able to turn up. Minister Sinckler we know that you have been busy with the EPA but surely you have support staff in your ministry to deal with these matters?
Please help the old man and in the process maintain the good reputation of the Barbados off shore domicile.