| Salt Cay claims against Hoffmann dropped | | Print | |
| Written by Richard Green/richard@fptci.com | |||
| Tuesday, 17 July 2012 12:27 | |||
 Claims over the development of Salt Cay against Mario Hoffmann have been dropped in return for Hoffmann returning 1,506 acres of property to government and forfeiting his Belongership, Attorney General Huw Shepheard announced July 17. The terms of the settlement are confidential, including the amount of Hoffmann’s “contribution” to government costs in its civil claims. “Neither Mr. Hoffmann nor the development companies admitted any wrongdoing or civil or criminal liability when entering into the settlement,” the AG’s statement says. “We are pleased that these disputes have now been settled, and in consequence that the position of Salt Cay is now secured with the transfer of all the respective lands on Salt Cay to the government,” Shepheard said. “The government will be undertaking a broad consultation as to the future of Salt Cay.” The press statement also included a statement from Hoffmann: “We have at all times maintained our innocence with respect to all allegations of misconduct and corruption made against us and determined that it was most convenient and expedient to enter into the settlement rather than continue on with the disputes in relation to Salt Cay. We are pleased to put these disputes behind us. “We have maintained our innocence at all times and continue to think that our project for Salt Cay was a good one for the people of Salt Cay and the Turks and Caicos Islands. After litigating these issues for several years, in light of all mutual claims we felt it best to settle these disputes now and move forward with our other businesses. We thank the people of Salt Cay for their trust and confidence in us.” Hoffmann has been trying to develop a resort and golf course on Salt Cay since 2000, acquiring a majority of land on the small island. According to the 2009 Commission of Inquiry report and court documents, former Premier Michael Misick’s government granted Hoffmann’s Devco company a 99-year lease on 239 acres of Crown land for $1 per acre. In 2006, a holding company of Misick’s brother, Chal Misick, was given 50 percent of shares in Salt Cay Golf Club while Hoffmann’s Cyprus-based holding company held the other 50 percent. A year later, Michael Misick got a $6 million loan from Slovakian bank J&T Banca — a partner in the Salt Cay project — secured by his brother’s equity in the golf club. Since 2010, the government has been in court trying to take back the property, alleging “a series of corrupt transactions.” Hoffmann is the third developer to settle government claims out of court that arose from the 2009 Commission of Inquiry or investigations by the Special Investigation and Prosecution Team and Civil Recovery Team. Bribery charges against millionaire developer Jak Civre were dropped earlier this month in return for his payment of $4,750,000 plus $250,000 in costs. He had been accused of bribery in connection with the development of the Seven Stars resort. In December the attorney general agreed to accept $1.25 million from U.K. businessman John Gill to settle all criminal and civil issues. No details of the allegations against Gill have been revealed. Gill was once a business partner of developer Richard Padgett, and together they bought the Blue Horizon Resort on Middle Caicos. Gill is now sole owner of the property. Padgett has been charged with bribery for paying government ministers to get special treatment on his stalled Third Turtle development. Those charges are still pending.
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