Seychelles FSA To Act On Panama Papers

The Financial Services Authority has expressed its concern about the revelations regarding Mossack Fonseca and Co (Seychelles) Ltd within the leaked "Panama Papers."

The FSA commented that it is "mandated, inter alia, to supervise and regulate the financial services industry in the Seychelles. … As such, the FSA condemns any act or attempt of money laundering, financing of terrorism, corruption, any criminal activity and malpractices especially by any of its licensees, regulated persons, or clients [that use] services within the jurisdiction."

The FSA said the Seychelles has "shown its steadfast commitment and adherence to international best practices, particularly in regards to the international initiatives relating to improving transparency. One result of that commitment has been the Seychelles obtaining a largely compliant rating by the OECD's Global Forum on Transparency and Exchange of Information for Tax Purposes in 2015, which attests to the mechanisms introduced to ensure that, amongst other things, ownership and accounting information is available in Seychelles."

"In a similar vein," it added, "the Seychelles became the 85th signatory of the Multilateral Convention on Mutual Administrative Assistance in Tax Matters on the February 24. 2015. The Seychelles also opted for early adoption of the Common Reporting Standards, the new standards in automatic exchange of information between countries developed by the OECD."

The FSA concluded that it "is confident that there is in place a robust legal and regulatory framework, including modern anti-money laundering legislation, to which licensed service providers are subject. In cases where any non-compliance and/or malpractices are identified, the relevant authorities in the Seychelles will intervene appropriately."

It confirmed it will be "undertaking further inquiries and examinations into this matter in order to establish the course of action that it shall be undertaking to ensure that the reputation of Seychelles is safeguarded."

Panama Papers: How the Seychelles saved Syria

Against the backdrop of recent territorial gains, the cessation of hostilities and a peace process in Geneva that is rumbling along, President Bashar al-Assad seems more secure than ever after five years of conflict in Syria.

When people ask how he managed to stay in power despite the country having its economy collapse in half, hundreds of thousands killed, one in two Syrians being forced from their homes and the conflict dragging in four of the five UN P5 members of the Security Council, you wouldn't necessarily think about the Seychelles.

Yet as the Panama Papers, the biggest leak in global history, has shown, the idyllic archipelago of 115 islands in the Indian Ocean off East Africa has played its part in keeping Assad in the Presidential Palace in Damascus.

Inside Panama Papers: How the rich hide their money

What this demonstrates is that what appears from a distance to be an insular, authoritarian regime far more proficient in the tools of medieval warfare than modern capitalism, has actually used the levers of globalisation well to protect its interests.

Evasion of sanctions 

What the 11.5 million leaked documents reveal is that three Syrian companies close to the government - Maxima Middle East Trading, Morgan Additives Manufacturing and Pangates International - used the already infamous Panama-based law firm Mossack Fonseca to create shadow or shell companies in the Seychelles to avoid the increasing pressure of global sanctions.

Considering how near the regime was to collapse before the Russian intervention, this evasion of sanctions is fairly significant. The Panama Papers suggest it paid for fuel that kept Syria's Air Force helicopters and airplanes in the air.

Tsunami of PL Defectors Ready To Jump Ship on Captain Michel!

After 100 days self anointed grace period to resolve outstanding issues and change policy to make life what it should be in the " richest country in Africa", things do not look good for PL and Mr. Michel' s Administration.
Instead of building support in rank and file of the opposition, Mr. Michel now faces a Tsunami of defectors from Le Pep who are looking for a way out of the irrational policies, irradict vision.

MNA Defectors

The first group threatening to defect to the opposition are the same MNA's forced to vote themselves out of a pension for life. These individuals numbering 12 have said they were forced to vote for the pension slash in order to crush the monthly revenues for the SNP ex MNA's that stand behind Ramkalawan.

The hazing policy is not rooted in fairness as the PL state in their papers, but rather a vindictive and revengeful purpose deeply rooted in the Presidents character.
It is this personal sense of revenge, vendetta, that makes them despair under desperation for change under James Michel. One source said: " President Rene would never treat people this way, good or bad, we have served our country, a reduction in pensions would be fair, but a total cancellation shows us how mean spirited James Michel can be".

MLUH Fiasco Again and Again!

The other wing of defectors is brewing under the housing scheme that reduces repayment and payments by 25%. The residents are frustrated by Le Pep using them as election pawns, treating them like chickens in a cage as the creole proverb describes. The focus of this complaint is this: Sheikh Khalifa gave Le Pep all the money for 1000 houses, roads, infrastructure for Ile Preservans. It has been a gift. If Le Pep loves us, and cares for us, why do they charge us money for a gift from Sheikh Khalifa?
Note: Ile Preservans was a shock to Le Pep in the election results.

Ministers Ready To Jump !

Four Ministers appear ready to abandon ship and take their chances on the high seas in the Taunami wave ahead, that will finish the political legacy of James Michel. Still waters run deep they say. The handling or mishandling of the last two elections, waste of money, favoritism in the ranks has left its mark on the Consul of Ministers forever.

James Michel has insisted on protecting and keeping his pet ministers in spite of the their ability to get the job done without excuses- 1. Christian Lionnet, 2. Mitcy Larue 3. Eddith Alexander ( still in training so everyone has to put up with her failures).

Moral could not be lower. The bad energy could not be worse. The cracks are spreading into valleys to the point of no return as the fault lines widen and politically there is no return as the Tsunami of Defectors build up against Captain Michel.

I advise ministers joining the Tsunami of defectors, lay low, build up the energy, give Michel until June 5 th, 2016 to do the following:

1. Remove Christian Lionnet;

2. Remove Mitcy Larue;

3. Remove Zomn Lib from town;

4. Michel must create a National Reconciliation Committee;

5. Michel must order his Ministers to address and handle, reduce, resolve all cases of victimization under their ministeries in the next 100 days.

Ramkalawan Factor

Le Pep defectors are ready to jump Captain Michel's reef hardened ship . But they do not want Ramkalawan.
My advise to them is this: No one wants Ramkalawan. I will be the first to raise my hand in protest over Ramkalawan. His brothers and sisters do not want him. They caught him defrauding them. Based on his actions, he will likely defraud the people. We will deal with him.

In the meantime, he is not the cause of the suffering of the People, while foreigners frolick in our country like it is a Disneyland without charges and fees, and we Seychellois must live a life enslaved with pay as you go policies that threaten the well being of our children.

Mr. Michel, change your ways or Father Time will clock you!

Sesel Pou Seselwa!

May God Bless All Freedom Loving Seychellois!

Seychelles Gets Chaotic!

Our endeared country and people are under the grip of chaos. Each week the plot thickens, the ruling party makes a move, to release the pressure valves. Each week the pressure builds up the chaos gets worse, and sound decision making lacking on key desks, make small problems grow into mega - pressure problems.

Minister of Health Rental Fiasco

The Minister of Health Mitcy Larue went on Extra, Extra to announce that her offices will be moving into a SCR 12 Million per year rental office. Her new offices out did Eddith Alexander's offices at Oliaji Trade Center. There was an uproar in social media. PL was thinking no one is watching. The whole country today, is watching every move. It has been that way for some time. But PL have been late to understand the new dynamics of the power of social media. It is now transparency galore for PL. James Michel in reaction, immediately cancelled the decision by Cabinet order according to a press release. Then came the drugs in the family as NDEA harnessed a group of heroin peddlers which included ONE of Ministers sons. How could the week get more chaotic for the Minister?

Panama Papers Expose Seychelles
A hacker unwind the secrecy of Fonseka Offshore based in  Panama. They have a office in  Seychelles, right next to the USA Consular Offices, at Oliaji Trade Center. No doubt they must be paying the rent on time in these bad times. On CNN it was announced that over 1000 companies had links to  Seychelles and a hoard of money transactions were initiated in Seychelles. Among the client base is Seven persons of interest to the Seychelles General public.
The seams of Seychelles society and her culture of secrecy is coming apart. With it, offshore industry will die over night on this revelation. Offshore facilitators in PL and the opposition alike, will have to run for cover. I hate saying this, but here it goes:" I told you so".

Danny Faure Amends Constitution to Two Terms

The Vice President of Seychelles Danny Faure presented a Bill to National Assembly to amend the Constitution to limit the term of the President to Two terms of Five years. The timing is dubious. Faure limits his own term in future. The amendment precludes the Courts from ordering Michel to stand in a 3 rd round, if the 2 nd round being contested is determined not to be Free, Fair, Credible. It means James Michel will not stand a 3 rd round. He will sit it out. Faure will run.
All in all, it looks as if we will see a early retirement of Mr. Michel. Regardless, no one really ever had an issue with the 3 rd Term. The problem has been the victimization and corruption along with inept ideas in the 1 st and 2 nd term. The problem has been reducing our people to 3 rd class citizens in the 1 st and 2 nd term. This is the problem.

Opposition Name Calling Internal Fighting Over Money

The opposition under Ramkalawan typical after every election is fighting internally, calling each other names, closing Facebook pages, opening new ones, accusing leaders of stealing money ,taking money in the millions for the election and not sharing.

SNP people do not complain that their leaders take money from PL agents or key players. They complain that leaders did not share the money with them.

This is taking the term " Freedom Fighter" to new levels: " Male Whores" in my opinion.

A word of advise: none of you are freedom fighters. Freedom Fighters do not just talk, they act. Prepare yourselves to get serious about dialogue with PL and each other to address the issues facing us as a people. We need a change of mind set to move forward.

We must accept, our leaders have failed us grossly. It is time to wash up the smudges and clean up our act and take politics of our Nation seriously. We cannot do this if we are bickering over who stole what money in the last elections and who took what from whom. Suffice to say, it is a total disgrace.

As Chaos Sets In.......
As the chaos sets in on all sides, remember a few wise words. It is better to forgive then to hold a grudge all your life. The power to forgive allows us all to live for another day as individuals and as a Nation.
Those who breach the trust of the people, simply need to step aside, move on. Get a real job! It is at that time, that you will appreciate the work of Seychelles Chamber,and you will understand fully the gravity of our situation.

When failure has rooted itself deeply, we have in effect condemned the next generation, our children, to facing the reality of toiling in a country worse then when we came. Today, 40% of the population lives in poverty. Today, 39 % of the population goes to sleep at night without a balanced meal. Today, we have over 1,000 men in prison, and remand inmates who have not been convicted, are shot to death while in custody. Our children are failing in education,they leave unprepared for the real world. We have 4000 drug addicts of heroin,which too bad for us is now cheap on the international markets. We import 25% of our labor force, sucking SCR. 1.2 Billion per year in national revenue, for repatriated salaries over seas.

If you all think we are on the right track, then I believe you have all lost your mind.

Sesel Pou Seselwa!

May God Bless All Freedom loving Seychellois!
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