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Is Blackmail Sanctioned by the State in Seychelles ?

 
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dackkock



Joined: 11 May 2014
Posts: 8
Location: Paris

PostPosted: Sun May 11, 2014 3:59 am    Post subject: Is Blackmail Sanctioned by the State in Seychelles ? Reply with quote

The Seychelles is often seen as a paradise by investors flocking to the islands to start businesses and live their lives in tropical luxury. However, a scandal alleging corruption, extortion and blackmail is growing within these paradise islands that has reached courtrooms in the US, as the employees of the Financial Intelligence Unit go about their daily work.

Although the name of the FIU and its background information lead those looking into the company to believe this is a government agency, it is in fact a corporate body making large profits off the misfortune of business owners in the Seychelles. The question many investors in the Seychelles are asking is why the government of this nation in the Indian Ocean sits back and allows businesses to be blackmailed by the FIU.

The business operated by the FIU seems at first glance to lend itself to backing any consumer cheated by an unscrupulous business owner. When a customer makes a complaint about a business the assets of the company are frozen by the FIU until the issues surrounding the complaint are worked through. The problem with the FIU is that as a private business it should not have the power to seize the assets of another private company on the basis of a customer complaint that has yet to be investigated.

Regarding blackmail, the standard business practice of the FIU is to seize the assets of the complained about company and then offer to release them in return for 50 percent of the assets to pay for legal fees and associated costs. An itemized account of such fees is not released, instead a standard 50 percent payment is charged, if a business owner refuses their assets are frozen indefinitely as a complicated legal battle ensues. With the government of the Seychelles standing by and observing, the practice of blackmail with official backing does seem to be alive and well in the tropical paradise of the Seychelles.
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