SMCC: US$77 million of ENNIA Premium moneys disappeared in the Mullet Bay ruins? | SOUALIGA NEWSDAY

SINT MAARTEN (PHILIPSBURG) – The Sint Maarten Consumers Coalition (SMCC) in a recent statement said that in the Vigilante newspaper in Curacao of Tuesday September 15, 2020, on page 7, one could read the results of an investigation of ENNIA Holding about what happened with premium moneys of ENNIA policyholders in the Mullet Bay project.

“From 1995 till 2006 shareholders of Mullet Bay hotel had no money to pay the owners of the destroyed apartments due to hurricane Louis in 1995. After the Ansary group acquired shares in ENNIA in 2006, a few months later Sun Resorts reached to an agreement with the owners of the apartments. After becoming owner of ENNIA the owners of Mullet Bay apartments were paid by ENNIA. How ENNIA money resulted in the hands of Mullet Bay apartment owners? ENNIA had no agreement with these owners, but SUN RESORTS.

“What the Ansary group did was the following: Mullet Bay property value was inflated to 400 million dollar and was brought in as an asset from the Parman group to purchase ENNIA. Than premium moneys of ENNIA consumers were used to finance the payment to the Mullet Bay apartment owners. How? The PARMAN International BV owned by mister Ansary bought ENNIA (without money using the destroyed Mullet Bay property as asset) and later used ENNIA premium moneys to pay SUN RESORTS/RESORTS CARIBE to buy out the owners of the Mullet Bay apartments for 58 million ANG.

“RESORTS CARIBE was created in 2006 as an investment company of the PARMAN group. 77 million dollars from ENNIA policy holders was transferred to RESORTS CARIBE to pay out the owners of the apartments and to rebuild the destroyed hotel and to make it operational! Until today the hotel has not been rebuilt. So what happened with the moneys and when the ENNIA policy holders will get this money back?

“On the same Tuesday, September 15, 2020 we read an article on St Martin News Network appeared an article with the headline that ambassador Hushang Ansary and attorney Richard Gibson Sr wants to resolve Ennia differences mutually. In a leaked document from a trusted and well-informed source, mr Gibson and ambassador Ansary have directed a letter to the CBCS director, in response to the latter’s request for a zoom meeting to possibly resolve the Ennia issue yesterday Wednesday, September 16.

“As Consumers Coalition we have requested our Parliamentarians and the Minister of Finance, and the minister of TEATT and of VSA to look into this matter, and make sure that the moneys of the ENNIA policy holders will be secured and that all unlawful transactions will be reversed! With the announcement of the President of Parliament that the Mullet Bay parliamentary inquiry will be addressed in this parliamentary year, we hope that this issue of the ENNIA liquidity and moneys of the policy holders also will be resolved,” the SMCC media statement concludes.

Source: Souliga Newsday$77-million-of-ennia-premium-moneys-disappeared-in-the-mullet-bay-ruins&Itemid=504