Luxury resort operator Sandals will pay $12 million to the government of the Turks and Caicos to resolve an investigation into bribery and money laundering.
The spa company’s cooperation with U.S. authorities helped lead to the deal last week with the Special Investigation Prosecution Team (SIPT), according to a report by Vanessa Narine of the Turks and Caicos Weekly News Online.
Sandals didn’t admit guilt or liability in reaching the settlement.
The investigations reportedly focused on the transfer of $1.65 million from accounts belonging to Sandals to the Progressive National Party and former Turks and Caicos premier Michael Misick.
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Alternate news link: Sandals To Pay Gov’t $12m – But Does Not Admit Liability