Antigua's leader rejects allegations that his government withheld details of yacht sale and proceeds
SAN JUAN, Puerto Rico (AP) — The prime minister of Antigua and Barbuda on Tuesday dismissed allegations that his administration has not been transparent about the sale of a seized megayacht and how the proceeds were used.
The statement by Prime Minister Gaston Browne comes a day after a federal judge in New York granted attorneys permission to issue subpoenas to access the financial records of Browne and other officials.
The attorneys represent Yulia Guryeva-Motlokhov, who claims she is the rightful owner of the Alfa Nero megayacht, which remained anchored off Antigua for a couple months before the local government seized and sold it last year.
Guryeva-Motlokhov's attorneys alleged in a March 11 filing in federal court that Browne's administration has not released documents related to the $40 million sale of the yacht.
The attorneys are seeking documents and information related to wire transfers and other transactions involving Antigua's prime minister and six other people, as well as 12 entities, in the past five years.
The people targeted include Browne, one of his sons, his wife, Antigua's general accountant and its port manager.
The entities include West Indies Oil Co. Ltd., an Antigua-based petroleum storage and distribution company of which the government is a majority shareholder, and Fancy Bridge Ltd., a Hong Kong-based investment firm that owns shares in the oil company, as does Petróleos de Venezuela S.A., known as PDVSA.
The institutions that the attorneys plan to subpoena are required to comply with the request for information unless Browne or someone else files a motion opposing the subpoenas.
Browne said in a public statement Tuesday that he is discussing legal remedies with his attorneys in Antigua and the U.S.
He also told The Associated Press that his attorneys may challenge the judge's ruling.
The case focuses on a megayacht abandoned by Guryeva-Motlokhov's father, Andrey Guryev, a Russian businessman who founded a fertilizer company and worked in the Russian government. He was sanctioned by the U.S. Treasury Department in August 2022.
Browne on Tuesday accused Guryeva-Motlokhov of falsely claiming that she was entitled to the yacht 'in order to claim for herself the sales proceeds and damages and rob the people of Antigua & Barbuda of these public benefits.'
'She and her attorneys have made scandalous, malicious and entirely false accusations in order to further her illicit ends,' Browne said in a statement. 'The principal targets of her defamatory comments have been myself, and members of my family. There is not a grain of truth to any of these attacks on my, or my family's integrity.'
An attorney for Guryeva-Motlokhov did not immediately return a message for comment.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Insider
20 minutes ago
- Business Insider
Upcoming Stock Splits This Week (June 9 to June 13)
These are the upcoming stock splits for the week of June 9 to June 13, based on TipRanks' Stock Splits Calendar. A stock split is a corporate maneuver that increases the number of shares outstanding by issuing more shares to existing holders, all while keeping the company's total market value unchanged. This lowers the price per share, often making the stock more affordable and potentially more appealing to retail investors. Confident Investing Starts Here: In contrast, a reverse stock split reduces the number of shares by consolidating them, which raises the price per share without affecting the company's valuation. Companies typically turn to this strategy to meet stock exchange requirements – like Nasdaq's minimum price threshold – and avoid delisting. Whether intended to boost investor interest or maintain compliance with exchange rules, these adjustments often serve as key signals for traders tracking a company's strategic direction. Let's take a look at the upcoming stock splits for the week. Nektar Therapeutics (NKTR) – Nektar Therapeutics is a biopharmaceutical company developing novel drug candidates. Following stockholder approval on May 23, the company formalized a 1-for-15 reverse stock split. The split takes effect on June 8, with trading on a split‑adjusted basis beginning June 9. Fangdd Network Group (DUO) – China-based Fangdd is a technology-driven real estate platform. The company confirmed a 16-for-1 reverse share consolidation, effective June 9, aimed at boosting its share price and maintaining compliance with listing standards. Bone Biologics (BBLG) – Bone Biologics develops orthobiologic products for spinal fusion procedures. After gaining shareholder approval on May 30, the company filed for a 1-for-6 reverse stock split, which takes effect on June 10. The goal is to elevate its share price back into compliance with Nasdaq's minimum pricing rules and enhance its appeal to institutional investors. Cero Therapeutics Holdings (CERO) – Cero Therapeutics is a biotech firm developing engineered T-cell immunotherapies for cancer. Following shareholder approval in November and board action on December 25, it enacted a 1-for-100 reverse stock split effective on January 8, consolidating every 100 shares into one. The move aimed to boost the stock above $1.00 and secure compliance with Nasdaq's listing standards. Inuvo, Inc. (INUV) – Inuvo specializes in AI-powered marketing technologies and is gearing up for a 1-for-10 reverse stock split on June 10. The move is designed to lift its share price, restore Nasdaq compliance, and strengthen its financial foundation for future growth. O'Reilly Automotive (ORLY) – O'Reilly Automotive is a specialty retailer of automotive aftermarket parts and accessories. On March 13, the company declared a 15-for-1 forward stock split, with the distribution of additional shares set for June 9 and split-adjusted trading beginning June 10. SaverOne 2014 (SVRE) – Israel-based SaverOne develops driver safety systems that block mobile-device distractions in vehicles. The company executed a 1-for-3 reverse ADS split, effective June 11, adjusting its American Depositary Share ratio to strengthen its Nasdaq standing and enhance market appeal. China Natural Resources, Inc. (CHNR) – China Natural Resources is focused on mining exploration in Inner Mongolia and is working toward picking up Zimbabwe's Williams Minerals lithium mine for up to $1.75 billion. The company executed an 8-for-1 reverse stock split effective June 12 to meet Nasdaq's $1 minimum bid price requirement, converting every eight shares into one to boost its per-share value and comply with listing rules
Bloomberg
37 minutes ago
- Bloomberg
Asian Stocks to Advance on Trade Talks, Jobs Data: Markets Wrap
Asian stocks are poised to rise Monday after positive jobs data in the world's largest economy eased recession fears and with US-China trade talks set to resume Monday. Equity-index futures for Japan and Hong Kong pointed to moderate gains, after the S&P 500 Index closed Friday at its highest since February. Contracts for US stocks edged down 0.1% in early Asian trading Monday. The yen was marginally higher and gold edged up 0.2%.
Chicago Tribune
42 minutes ago
- Chicago Tribune
Russia awaits Ukraine's confirmation on a planned exchange of dead fighters, officials say
Russian officials said Sunday that Moscow is still awaiting official confirmation from Ukraine that a planned exchange of 6,000 bodies of soldiers killed in action will take place, reiterating allegations that Kyiv had postponed the swap. On the front line in the war, Russia said that it had pushed into Ukraine's Dnipropetrovsk region. Russian state media quoted Lt. Gen. Alexander Zorin, a representative of the Russian negotiating group, as saying that Russia delivered the first batch of 1,212 bodies of Ukrainian soldiers to the exchange site at the border and is waiting for confirmation from Ukraine, but that there were 'signals' that the process of transferring the bodies would be postponed until next week. Citing Zorin on her Telegram channel, Russian Foreign Ministry spokesperson Maria Zakharova asked whether it was Ukrainian President Volodymyr Zelenskyy's 'personal decision not to take the bodies of the Ukrainians' or whether 'someone from NATO prohibited it.' Ukrainian authorities said plans agreed upon during direct talks in Istanbul on Monday were proceeding accordingly, despite what Ukraine's intelligence chief, Kyrylo Budanov, called Russian attempts to 'unilaterally dictate the parameters of the exchange process.' 'We are carefully adhering to the agreements reached in Istanbul. Who, when and how to exchange should not be someone's sole decision. Careful preparation is ongoing. Pressure and manipulation are unacceptable here,' he said in a statement on Telegram on Sunday. 'The start of repatriation activities based on the results of the negotiations in Istanbul is scheduled for next week, as authorized persons were informed about on Tuesday,' the statement said. 'Everything is moving according to plan, despite the enemy's dirty information game.' Russia and Ukraine each accused the other on Saturday of endangering plans to swap 6,000 bodies of soldiers killed in action, which was agreed upon during the talks in Istanbul, which otherwise made no progress toward ending the war. Vladimir Medinsky, an aide to Russian President Vladimir Putin, led the Russian delegation. Medinsky said that Kyiv called a last-minute halt to an imminent swap. In a Telegram post on Saturday, he said that refrigerated trucks carrying more than 1,200 bodies of Ukrainian troops from Russia had already reached the agreed exchange site at the border when the news came. According to the main Ukrainian authority dealing with such swaps, no date had been set for repatriating the bodies. In a statement on Saturday, the agency also accused Russia of submitting lists of prisoners of war for repatriation that didn't correspond to agreements reached on Monday. It wasn't immediately possible to reconcile the conflicting claims. In other developments, Russia's Defense Ministry said Sunday that its forces had reached the western edge of the Donetsk region, one of the four provinces Russia illegally annexed in 2022, and that troops were 'developing the offensive' in the neighboring Dnipropetrovsk region. This would be the first time Russian troops had pushed into the region in the more than three-year-old war. Ukraine didn't immediately respond to the claim, and The Associated Press couldn't immediately verify it. Russia's advance would mark a significant setback for Ukraine's already stretched forces as peace talks remain stalled and Russian troops have made incremental gains elsewhere. One person was killed and another seriously wounded in Russian aerial strikes on the eastern Ukrainian Kharkiv region. These strikes came after Russian attacks targeted the regional capital, also called Kharkiv, on Saturday. Regional police in Kharkiv said on Sunday that the death toll from Saturday's attacks had increased to six people. More than two dozen others were wounded. Russia fired a total of 49 exploding drones and decoys and three missiles overnight, Ukraine's air force said Sunday. Forty drones were shot down or electronically jammed. Russia's defense ministry said that its forces shot down 61 Ukrainian drones overnight, including near the capital. Five people were wounded Sunday in a Ukrainian drone attack on a parking lot in Russia's Belgorod region, according to regional Gov. Vyacheslav Gladkov. Two people were wounded when a Ukrainian drone attack sparked a fire at a chemical plant in the Tula region, local authorities said. Russian authorities said early Sunday that Vnukovo and Domodedovo airports, two international airports serving Moscow, temporarily suspended flights because of a Ukrainian drone attack. Later in the day, Domodedovo halted flights temporarily for a second time, along with Zhukovsky airport.
