The charges would center on allegations of “financial irregularities” as early as 2004 unearthed in an investigation that started late last year. Bush allegedly accepted money from Stan Thomas, a U.S.- based property developer, in exchange for Bush’s help rezoning property. According to the newsletter, Bush allegedly sought US$750,000 from Thomas, but the businessman did not want to pay more than half of the property’s value “out of principle.”
Offshore Alerts say that the investigation into Bush, who also serves as the Minister of Finance, Tourism & Development in the current United Democratic Party administration, has widened to include his relationships with other foreign investors.
They published a letter from the Cayman Director for Public Prosecutions to Thomas asking why he allegedly gave money to the politician. Thomas has been questioned twice by authorities. Offshore Alerts also published two witness statements of Cayman realtor Brian Wight, who helped broker Thomas’ purchase of Vista Norte.
Wight told investigators that he spoke several times by phone with Bush and Thomas about re-zoning the land.
The group has also produced a letter from Cheryl Richards, the director of the department of public prosecutions asking the Texas-based real estate developer about payments in 2004 amounting to US$375,000 to Bush and the company he owns, the Windsor Development Corporation.
Authorities have not brought criminal charges against Bush, but will decide whether or not to do so within six months. The ongoing investigation only became public when an October 2004 letter from Bush on his company letterhead asking Thomas for US$350,000 was leaked to the press. Duncan Taylor, the Governor of the Cayman Islands, told the press that it was the cornerstone of the investigation into Bush’s financial activities.
Bush maintains that he has not committed any wrongdoing and says that the letter was a real estate bill.
Thomas sold the property in question earlier this year.
