Former Progressive Liberal Party Chairman Bradley Roberts is taking the government to task, saying they did not properly vet U.S based Energy Company Oban Energies or its executives.
In a statement released yesterday, Mr. Roberts said the Prime Minister’s cavalier approach to the checkered past of Oban Chairman Peter Krieger is rank with duplicity, hypocrisy and double speak, as the Prime Minister carelessly tossed to the wind his solemn pledge of openness, honesty, transparency in governance and particularly his pledge on public consultation before executing any Heads Of Agreement.
“The Saga of the Oban Energies deal continued this past week with many unanswered questions. Statements by Prime Minister Minnis left many supporters and Bahamians generally speechless. His cavalier approach to the checkered past of Mr. Krieger is rank with duplicity, hypocrisy and double speak as the Prime Minister carelessly tossed to the wind his solemn pledge of openness, honesty, transparency in governance and particularly his pledge on public consultation before executing any Heads Of Agreement.
“DPM and Finance Minister Peter Turnquest, in whose constituency the facility is to be built, said at the recent Grand Bahama Business Outlook Conference that “there is more to the story than what you see” and urged Grand Bahamians to focus on the benefits of the project.
“The lead person on behalf of Oban Energies, Peter Krieger, has been busy for a long time peddling this petroleum proposal, but has no professional background in the petroleum industry, but was bold enough to put forward his team of individuals who also have no background in the oil industry. This should have presented the first red light to the FNM government, but alas Dr. Minnis had no issue with this structure. The Bahamian people are deeply suspicious however.
“It got worse for Dr. Minnis and his FNM government when it was later revealed in the local press that Mr. Peter Krieger is not only an embezzler, but a tax cheat, owing the United States government more than six hundred thousand dollars. The Prime Minister has to now answer why he failed to conduct his due diligence on the background of this investor seeking to do business in The Bahamas and if he knew, then why was he so comfortable doing business with this investor with such a checkered past,” Mr. Roberts said.
Mr. Roberts added that in deciphering current comments made by both the PM and DPM on this proposal, it appears that Mr. Krieger is not a shareholder in Oban Energies and is a front man for other substantive investors who will be disclosed when the HOA is tabled in Parliament.
In the absence of information on the owners, attention has focused on Mr. Krieger, who has faced a Securities Exchange Commission (SEC) lawsuit alleging misappropriation of millions in investor funds.
Mr. Krieger also pleaded guilty to first-degree felony of organized fraud in 2006. He has been barred in the US from acting as a broker or investment adviser or otherwise associating with firms that sell securities or provide investment advice to the public.
Other people so far identified as executives of the company have also faced scrutiny in the face of revelations that their qualifications may have been exaggerated or misstated.
