By P.J. Malone
Hedge-fund billionaire Louis Bacon uses Bahamian taxpayers’ resources to tie up our court system with his unfounded court cases and then runs to the international press to brag about it. How insulting, degrading and downright shameful!
Every time there is a court ruling in their favor, or even a lawsuit filed, Bacon and his operatives run to the international press with a story. This is one of many times that I came across articles online about Bacon’s supposed victories in The Bahamas.
Even in cases that had no merit, where evidence was presented that showed them plotting against fashion mogul Peter Nygard, Bacon’s operatives would manipulate the story and present it to the international press in a light favorable to Bacon.
What does Bacon think The Bahamas is—his private playground?
The Financial Times article, “Moore Capital founder wins Bahamian privacy case”—in discussing the outcome of the recent court case against Members of Parliament and the Bahamas Government with respect to Save The Bays information—included a ridiculous quote from Fred Smith:
“’It’s the simple fact of having our privacy raped by the members of government,’ he said.”
Who is raping who here Fred Smith? Seems to me that Bacon is the one raping The Bahamas with his countless unfounded court cases, and you never hear of him giving back to our country—unless you want to count the money allegedly paid to Bobo and Toggie and the other alleged millions paid to fight Peter Nygard.
Fred Smith also said in the Financial Times article, “Whatever the emails contain, whatever our private financial information with our banks may be, it is absolutely no business of the government to take it and launder it in public.”
Fred Smith, it is every right and business of the public to know what is going on with your supposed 501(c)(3)! Save The Bays is required by United States law to make information available for public inspection.
Every payment described in the Parliament speech that revealed Save The Bays information is mandated by law to be known publicly through Save The Bays annual returns in the United States.
Fred Smith is out in the international press constantly trying to make the Bahamas look bad with a bunch of trumped up issues. He works on behalf of Louis Bacon to take issue with Save The Bays information being revealed when Save The Bays is not allowed to keep such information from the public.
The TurboTax website, which hosts an American tax preparation software, explains that tax-exempt organizations must file a Form 990, which is where one would be able to access the charity’s information:
“Form 990 initially requires the organization to describe its mission or other significant activities. The organization must then disclose financial details on its revenues, expenses, assets and liabilities.
“The IRS also wants to ensure that the organization is worthy of maintaining its tax-exempt status and requires more details on the types of activities it engages in during the year.”
How much must you hate a country to continuously belittle it and denigrate it to the international press? The Financial Times further reports,
“Vindication for the government would have created ‘quite a tsunami in the financial services world internationally,’ Mr. Smith said. ‘This industry is built on privacy, and [the government] grossly betrayed this industry — they sacrificed it on the altar of protecting Mr. Peter Nygard at the expense of Louis Bacon’s privacy.’”
No Fred Smith. Stop pretending that this is about something other than what it is. It is not about the financial services industry and privacy. It’s about you and Louis Bacon using your pretend environmental organization, Save The Bays, to seek to destroy the Government of The Bahamas and to seek to destroy Peter Nygard.
The Government of The Bahamas has every right to—no! The Government of The Commonwealth of The Bahamas has an OBLIGATION to expose you, Louis Bacon, and Save The Bays for what you truly are—wolves in sheep’s clothing.
The Bahamas is not Louis Bacon’s playhouse to do with as he pleases. We are a sovereign nation not subject to Louis Bacon’s whims and fancies. Fred Smith, you and Save The Bays, if you are serious about what you do, would stop allowing yourselves to be used as Bacon’s attack dogs operating for the sole purpose of his vendettas.
Like Bahamian mothers would often say, ‘if you can’t hear you will feel’—the IRS belt.