The campaign of the Free National Movement candidate for West Grand Bahama and Bimini
Bishop Ricardo Grant has sustained a body blow when it was revealed this week that he and his
wife were involved in an illegal pyramid scheme in Grand Bahama.
The allegations sent shockwaves and the FNM faithfuls reeling. Former Prime Minister Hubert
Ingraham, who is campaigning for Bishop Grant, along with other stalwarts of the party, are
hard-pressed to defend the candidate as a result of the allegations.
According to reports, it is alleged that Bishop Grant and his wife were involved in a pyramid
scheme in 2020 where some people lost their investments and never received promised payouts.
On Wednesday, Bishop Grant denied these allegations.
A local daily reported that the Grants, according to FNM chairman Dr. Duane Sands, were
victims who lost money in the scheme, not the scheme’s leaders.
Dr. Sands said they do not deny receiving money from people as part of the scheme.
“Their position is they would’ve also lost money,” he said. “I don’t think they deny at any
point in time being a part of it, but that in no way implies that they were the originator, the
proprietor, the primary driver or principal of this process. I think the story that is being
propagated is that this was a scheme that was hatched in the mind or the head of Bishop Grant
or Mrs. Grant that ultimately resulted in people losing their money.”
In September 2020, the Securities Commission of The Bahamas issued a public advisory
identifying the scheme the Grants participated in –– known as Ujamaa –– while advising the
public that the program carried characteristics of “fraudulent Ponzi and/or pyramid schemes.”
The House of Assembly passed legislation in November 2020 to criminalize pyramid, Ponzi and
other financial schemes.
This is the worst thing that can happen for Bishop Grant, since the by-election is so close and is
scheduled for Nov 22.
Bishop Grant’s campaign had a rough start when he admitted to the party very early that he had
no plan for the constituency and that he had no money. After receiving criticism for having no
plans and little money, Bishop Grant revealed at a recent rally in West Grand Bahama his plan to
transform the constituency, which includes the reintroduction of banking services, the
completion of schools, the construction of a solar site, and the opening of the airport in West
End.
Meantime, the governing Progressive Liberal Party has called out all the troops and their
heavyweights, including the prime minister and Cabinet ministers, who have descended on the
constituency to get their candidate Kingsley Smith elected.

The by-election came about as a result of the passing of former West Grand Bahama and Bimini
MP Obie Wilchcombe, who died on September 25.
Both the PLP and FNM have been knocking on doors throughout West Grand Bahama and
Bimini in what was considered to be a marginal seat. However, the revelation of this bishop
being involved in the pyramid scheme has given the PLP candidate the upper hand in the contest.