Last Updated on February 23, 2025, 4:25 AM AST by Admin 1
Caribbean Galaxy, a real estate corporation, has been in the headlines due to its alleged fraudulent practices within the Citizenship by Investment (CBI) programme, which have significantly tarnished its reputation. The company has reportedly been offering citizenships at heavily discounted rates.
Several agents, specifically from China, who have worked with the company, have now come forward to share their experiences in selling citizenships through these cross-cutting practices.
According to the Chinese agents, they worked closely with Caribbean Galaxy to offer CBI applications at discounted investment rates to investors, intending to gain financial benefits. During this process, the agents accepted over 50 applications under the company’s name, offering citizenship at a price much lower than the actual cost.
However, these discounting practices have proved detrimental to the agents. The alleged involvement of Caribbean Galaxy in fraudulent activities and their maligned reputation have caused significant delays in processing the applications. As a result, the staggering number of CBI applications has been stalled with some even delay for up to 1.5 to 2 years.
These prolonged delays have frustrated clients and damage the agents’ reputations due to their involvement in the discounted practices. Now, the agents find themselves in uncertain circumstances, unsure if they will ever receive their commissions, leaving them in a serious crisis.
One agent shared that the fraudulent activities of Caribbean Galaxy have destroyed their business, the trust they had built with clients, and their reputation within the CBI industry. As a result of dealing with the company, they have experienced massive financial setbacks and losses.
The agent further explained that offering discounted citizenships through Caribbean Galaxy was the biggest mistake of their lives. Due to these discounting practices, many files have faced significant backlogs and delays, with some applications not being processed for an extended period. The agent also noted that they, along with others who worked with the company, have not received any commissions, resulting in further financial losses.
In contrast, applications that were processed correctly and honestly, without any discounting, have faced a much smoother process. These applications have been processed efficiently, and results were delivered to investors in a relatively short time frame.
The experts in the industry outlined that the agents in China realized that the regular operations and the processing of the citizenship applications provide more business opportunities and offer exclusive benefits to them. According to them, the discounted practices create more problems for them as it has led them to long delays in the processing.
Experts added that the agents prefer a more regular and honest approach in processing the applications instead of facing the situation of delays of 1 to 2 years due to the cross-cutting.
Agents who did not engage with Caribbean Galaxy or partake in the cross-cutting practices have received their commissions and maintained a strong reputation with investors. According to experts in the CBI industry, applications that were submitted at the correct price were processed without delays or backlogs and experienced a hassle-free process.
However, experts also pointed out that applications offered at discounted rates have faced processing issues due to suspicions of potential fraud.
Caribbean Galaxy has gained a notorious reputation for its fraudulent activities within the CBI programme across the Caribbean region. The company has faced multiple accusations of offering citizenship applications through cross-cutting practices. Both agents and investors have openly criticized the company for its fraudulent conduct and misconduct within the CBI industry.
