A RICH expat who donated big bucks to the PLP's election campaigns in 2002 and 2007 is in talks to buy the Four Season hotel and casino at Emerald Bay, Exuma.
Scandal-tainted Rami Weisfisch is reportedly set to purchase Emerald Bay for about $130million. But Weisfisch will reportedly put down less than $5million if he manages to seal the deal.
Weisfisch, 61, is an Israeli. He was granted permanent residency shortly after the PLP won in 2002. He lives in Bay Roc, Cable Beach.
The wily Weisfisch has forged business relationships with FNM and PLP lawyers to help him acquire Emerald Bay. He is reportedly represented in the deal by former FNM Cabinet Minister Sir Orville Turnquest, Wayne Munroe and PLP MP Philip "Brave" Davis. Weisfisch has invited all three lawyers, plus ex-PM Perry Christie, to his daughter's wedding in Paris next month. He will reportedly pay all their travel expenses.
Christie has been using his influence to try to persuade PM Hubert Ingraham to approve the sale of Emerald Bay to "PLP expat" Weisfisch. But observers are concerned at Emerald Bay going to Weisfisch. They view him as an unsuitable investor. He has no background in operating resorts. Weisfisch reportedly has his eyes on Emerald Bay's casino license. He feels the licence could become very valuable if he revamps Emerald Bay into a profitable resort. Emerald Bay reportedly owes Government big bucks in casino taxes. Weisfisch is a metals trader. He is President of Metal Resources Group (MRG). Weisfisch and MRG were caugh up in a Parliamentary Inquiry into alleged corruption in Zambia, East Africa. Zambian MPs alleged that a "fixed-price" sale to MRG of 1,900 tonnes of cobalt had cost the Zambian Government $60million.
Weisfisch was not accused of any wrongdoing. But many felt that he and MRG were badly tainted by the Zambian cobalt scandal.
Originally printed in The Punch, 31 July 2008.
