PART 2Michael Posner's contributions to Aruba according to the newspaper
Aruba TodayAruba Today- October 24th 2005
Michael Posner Contributes
There are a few people who in the last 10 years have added tremendously to
Aruba's product with great success.
American businessman Michael Posner saw an opportunity in the mid 90's to
purchase the Holiday Inn Casino, although it was run down and on the brink
of bankruptcy. Posner stepped in when the Holiday Inn Casino was in terrible
condition with only 33 employees. He made a substantial investment into Aruba's
product by renovating this deteriorating casino. Today the Excelsior Casino has
over 140 employees, with all management positi ons filled by Ar ubans, and pays
millions of dollars in taxes each year
Mr. Posner procured Aruba as the site for the World Poker Tournament for
the past 4 years and many years into the future. This has created 20-30 million
USD for the economy of Aruba and 5 million yearly in free advertising for Aruba's
tourist industry.
Posner also purchased and renovated the old Stauffer Hotel, which was considered
at the time to be an eyesore to Palm Beach. He transformed the neglected hotel
into the Brickell Bay Beach Club and today has over 100 employees, with all
management level employment dedicated to Arubans
He recently delivered a genuine act of kindness by donating all the rooms for the
Texas EquuSearch team to search for Natalee Holloway, at a cost of over 100,000
Posner has been a generous supporter of many charities in Aruba, even going
so far as to send a sick Aruban child to Disney World with his mot h er as part
of the "Make a wish Foundation".
Aruba also thanks Posner for o p ening doors to potential new guest by making
travel easier. He was directly responsible for bringing United Airlines to Aruba.
Untied Airlines provides Aruba with 40,000 tourists and 300,000 hotel rooms annually
Posner received no payment for his services and was awarded the distinction
of "Aruba's Goodwill Ambassador".
Posner's contributions to Aruba's economy have been significant and greatly
appreciated by the people. Besides all of humanitarian acts of kindness, he is
also greatly appreciated for taking the reigns of failing businesses where no one
else would and developing them into successful entities.
525 on: March 31, 2008, 07:00:13 PM
http://scaredmonkeys.net/index.php?topic=2733.msg369659THE BANK OF NOVA SCOTIA FINANCING PROJECTS with the Marriott
was this where Posner got his money to redo both of his casinos ?????????
Remember, he's a felon, just out of prison and buys a casino and refurbishes it.MIGA has provided a $1.6 million guarantee to Marriott International, Inc. (Marriott), to cover its $1.8 million management agreement with, and $1.4 million loan guaranty to Caribe Hospitality De Costa Rica, S.A. (CHDCR) of Costa Rica. MIGA has also issued a $4.4 million guarantee to Bank of Nova Scotia (Scotiabank) for its $4.8 million non-shareholder loan to CHDCR. The guarantee to Marriott is for three years, and is against transfer restriction; the one for Scotiabank is for 11 years and is against the risks of transfer restriction, expropriation and war and civil disturbance.
http://www.miga.org/regions/index_sv.cfm?stid=1531&country_id=4 9
in order to have money laundering you have to have people there so the
dirty money can be cleansedSOME FACTS ABOUT MONEY-LAUNDERINGAn amount of money is deposited cash at a bank and the bank lends the money back:
now there is a clean and legitimate source of earnings.
www.hyscience.com/archives/2005/10/harrytho_1017_e.phpPlacement: Requires physically moving and placing the funds into financial institutions or
the retail economy. Depositing structured amounts of cash into the banking sector, and
smuggling currency across international borders for further deposit, are common methods
for Placement.
Layering: Once the illicit funds have entered the financial system, multiple and sometimes
complex financial transactions are conducted to further conceal their illegal nature, and to
make it difficult to identify the source of the funds or eliminate an audit trail. Purchasing
monetary instruments (traveler’s checks, banks drafts, money orders, letters of credit,
securities, bonds, etc.) with other monetary instruments, transferring funds between
accounts, and using wire transfers facilitate Layering.
Integration: The illicit funds re-enter the economy disguised as legitimate business
earnings (securities, businesses, real estate). Unnecessary loans may be obtained to
disguise illicit funds as the proceeds of business loans
http://www.bankersonline.com/security/sar/violationreview.htmlIn an attempt to put that in everyday layman's terms
Paulus went to the Caribbean Mercantile Bank on Monday two times, deposited
money the second time that it is still unexplained where it came from
Paulus has MONEY and he needs to get rid of it - OFF TO THE BANK TO
GET IT LAUNDERED! Once that money is deposited, it will go undetected as
it makes its way into the next hand - maybe Mary Mary Quite Aruban, who needs
to have change for her daily T-shirt business to the Tourists down by the dock
when the ship rolls in. Then Mister and Mrs. taking a Caribbean cruise for the
first time in their lives buys a T-shirt that says I love Aruba and they go to dine at
Carlos n' Charlies for lunch and head back to the ship by sunset and take pictures
and now they have dirty laundered cash in their hands. When they reach the next
morning's port, they go to the exchange booth (easy enough to find, I know I have
in (edited) and Mister hands over the dirty money that Paulus deposited
at CMB bank the morning before and that money is now in the hands of the
exchange bank booth. See how easy it is. And if you are looking at 72 million
visitors to Aruba, then you got a lot of washing routes to follow.
AND SOME VERY SUSPICIOUS OCCURRENCESHEYNINGEN, Rene Michel van – partially decapitated man found at cemetery on 6-18-05. Rumored to run the incinerator at the Refinery. It is also reported that he ran the incinerator at Oduber Hospital. Yesenia Castillo, his wife(?) is reportedly being held in KIA in conjunction with his murder
Paul Van der Sloot
June 18, 2005 18:30
pages 10 - one attachment
writer: Roland Tromp/Clyde Burke
description: witness statement
Cemetary – Located in Noord at St Ana’s Church. It was vandalized on 1-11-06 with head stones broken & crypts opened
Steve Gregg Croes
January 31, 2006 9:45 page 63
DJOEGAN, Dinesh ‘Pitbull’ - 25 year old bouncer from Choose a Name Bar that was found on 4-5-06 in Guadirikiri cave. His body was mutilated, crucified, and set on fire. Reportedly he died of an overdose of cocaine. It is believed that Pitbull is the brother-in-law of Dompig through Dompig’s first wife
April 9, 2006 Maria Bernadeta Kelly page 64/65
witness statement by a friend of Andre Meneses, first of many statements
May 10, 2006 Andre's Meneses page 65
witness statement
NOW LET'S TAKE A LOOK AT THE CARIBBEAN MERCANTILE
BANK NVwe know the Caribbean Mercantile Bank NV is a subsidiary of
Maduro and Curiel's bank of Curacao, and it is affiliated somehow with the
Bank of Nova Scotia, of Toronto CanadaEstablished on Aruba in 1962, Caribbean Mercantile Bank N.V. is a full service
commercial bank as well as a subsidiary of Maduro & Curiel's Bank N.V.
Curaçao, and affiliated with the Bank of Nova Scotia, of Toronto, Canada
www.cmbnv.com/main.html.
We know that in 2005 the Maduro and Curiel's bank had four
subsidiary banks on the island of Aruba
the Caribbean Mercantile Bank, and it appears to have three subsidiaries
Aruba
Caribbean Mercantile Bank NV
Caribbean Mercantile Credit company NV
Caribbean Mercantile Securities
Administration Company NV
http://www.mcb-bank.com/extra_pages/AnnualReport2005.pdffrom page 19 of the 2005 annual report
and we know the subsidiary, the Caribbean Mercantile Credit Company NV
is affiliated with the Bank of Nova Scotia and it does financing
2004-Caribbean Mercantile Credit Co.NV
made significant inroads and capturing large segments of the car financing market.....
we are the only remaining bank in ; ;Aruba with worldwide credentials through our
international affiliation with the Bank of Nova Scotia and Canada
google entry read
Our subsidiary, Caribbean Mercantile Credit Co.NV
Af filiated with. The Bank of Nova Scotia,. Toronto, Canada
www.cmbnv.com/pics/arg/2004/CMBAnnRep2004.pdfpage 6/30
2004 THE BANK SHOW
IN 2004, THE CARIBBEAN MERCANTILE CREDIT COMPANY NV SHOWEDreflected by an increase of more than 33 million in loans, achieved primarily
through spear-heading consortium financing for major projects on the island and
consortium breaking all previous records in consumer financing.
increasing our deposits by over 14 million. These deposits not only back the loans
we have granted
We show a considerable overall growth of greater than 16 million in total assets
???????? question???- is the above talking about the Caribbean Mercantile Bank or the
Caribbean Mercantile Credit Company Bank ??
our subsidiary, Caribbean Mercantile Credit Company NV continued
to create special events to attract new customers and maintain existing ones, and
consequently mad e signifi cant inroads in capturing large segments of the car financing market.
Trendsetting events like the CMCC a SPl it! Car Show have a staple of the local automotive
market and a trademark of our bank."
Besides bringing us closer to our partners on the Windward and Leeward Islands, our
new logo is an asset that reminds us that we are the only remaining bank in
Aruba with worldwide credentials through our international affiliation with the
Bank of Nova Scotia in Canada.
www.cmbnv.com/pics/arg/2004/CMBAnnRep2004.pdfpage 6/30
WE KNOW WE HAVE A CONNECTION WITH THE CARIBBEAN MERCANTILE CREDIT COMPANY AND A CHINESE COMPANY WITH PUTTING ON THE CAR SHOWSTrendsetting events like the CMCC a SPlit! Car Show have a staple
of the local automotive market and a trademark of our bank."
CMCC a SPlit! Car Show isChina Mobile Communications Corp (CMCC)
Chinese President Hu Jintao attends Ericsson's signing US$1 billion GSM deal
with China Mobile
Chinese President Hu Jintao, who is visiting Sweden, yesterday witnessed a
US$1 billion GSM expansion framework deal signed between Ericsson and
China Mobile. President Hu Jintao was joined at the signing ceremony by Swedish
Prime Minister Fredrik Reinfeldt. Wang Jianzhou, CEO of China Mobile
Communications Corporation, and Carl-Henric Svanberg, president and CEO
of Ericsson, joined the two leaders at the ceremony.
http://www.globalexecutiveforum.net/Wireless.htmNOW IN ARUBA LOOK AT THIS24 Augustus, 2006
Bank a bid cu biaha more special!
CMCC TA FREEZE BO PAGO MENSUAL CMCC TA freeze BO
monthly payment s
ORANJESTAD (AAN): Duran te un anochi masha ameno, Sr. Oranjestad
(AAN): During a MASH anochi entertaining, Mr. Javier Wolter, Gerente di
CMB, a yama bon bini na tur agencia di auto y bromer, miembronan di prensa
y demas invitadonan, pa sera conoci cu Caribbean Mercantile Credit
Company NV su facilidadnan nobo, mas espacioso y confortabel pa e
clientenan. Javier Wolter, manager di CMB, yama bon bini na tur
agency di auto and bromine, miembronan di press and other invitadonan,
pa be known cu Caribbean Mercantile Credit Company NV facilidadnan
his nob, more spacious and confortabel pa and clientenan.
Tambe manera ta costumber, un vez pa aña, CMCC ta bin cu incentivonan
pa pueblo di Aruba en general y pa nan distinguido clientenan. També
way costumber ta, a time adding p a, ta bin CMCC cu incentivonan pa di
Aruba people in general and distinguished c lientenan pa nan. Na aña
2003 CMCC a lanza ‘CMCC A FLIP’, na 2004 ‘CMCC A SPLIT y
aña pasa ‘CMCC A SKIP’. Na added in 2003 UNFCCC launches'
CMCC A FLIP ', 2004 na' CMCC A SPLIT passes and added
WE HAVE A CONNECTION BETWEEN ODUBER WANTING
TO BRING THE CHINESE TO ARUBA TO DO BUSINESSOn 4-28-06 ARUBAAN's news-sourced "Aruba Tradewinds Times" reported:
China Wants to Make Aruba Its Gateway to South America
Kang Mei Group Impressed With Aruba, Prime Minister Invited To Visit China.
ORANJESTAD-The Prime Minister of Aruba, Nelson Oduber has received a formal
invitation to visit the firm Kang Mei International Company based in the city of Chiu
Chih-Huang, China. Kang Mei Group is busy in positioning itself strategically towards
the Latin American market and is interested in Aruba as the Chinese gateway to
South America.
Kang Mei Group visited Aruba in March 2006 and held talks with Greg Peterson
(Director, Aruba Freezone) and the Prime Minister. The group is very impressed
with the island infrastructure and economic performance.
The intention of Kang Mei Group is to organize a trade exhibition in Aruba in
October 2006. The goal of the exhibition is to attract a hundred Chinese companies
to Aruba to showcase their products at the convention center. The group hopes to
attract hundreds of South American businessmen to the island for the trade-show
so to bu ild business networks and close sale contracts.
& lt; BR>Kang Mei Group will open two "Aruba Promotion Offices" in China, one in the
megalopolis of Beijing and the other in Guangzhou (Kanton). The costs of the promotion
offices in China are completely covered by the Chinese. The offices are part of the strategy
to convert Aruba into the Chinese gateway to South America. The purpose of the offices is
to convince Chinese businessmen to participate at the first trade exhibition in Aruba
organized by the group.
Oduber is invited to officially open the promotion offices in China next month. The
representatives of Kang Mei-Group have arranged a large number of meetings for the
Prime Minister with top Chinese officials and business representatives.
The Chinese economy is growing at a very fast pace and the eyes of China are set on
doing business with South America. Oduber will make use of the invitation as a great
opportun ity to build on solid economic ties between China and Aruba. One of the goals
of Oduber is to divers ify Aru ba's tourism sector that is at present very dependent on the U.S.
Prime Minister Nelson Oduber will visit China in May with a delegation consisting out
of 3 additional persons that include Augustine Vrolijk (Director Foreign Affairs), Frendsel
Giel (Assistant Managing Director, Aruba Investment Bank) and Greg Peterson
(Director, Freezone Aruba).
On 5-24-06 ARUBAAN's news-sourced "Amigoe.com" reported:
Chinese interest in oil-prospecting near Aruba
Prime Minister Nelson Oduber (r) explaining what Aruba has to offer to Chinese investors.
ARUBA – A Chinese oil-refinery has shown interest in exploring and exploiting of oil and
gas in the territorial waters around Aruba. Prime Minister Nelson Oduber (MEP) learned
this during his visit to China.
On this trip, Oduber was accompanied by amongst others director of the Foreign
Relations Administration (DBB) Agustin Vrolijk, director of the Free Zone Greg
Peterson, and interim-director Aruban Investment Bank Frendsel Giel. Together with
a representative of China Brazil Development Office, the Aruban delegation visited the
PetroChina Fuel Oil Company that showed interest in exploring and exploiting of oil
and gas in the territorial waters around Aruba. At the end of the visit, a representative
of the Chinese refinery made it clear that the company would like to talk to Aruban
business- and investments experts.
Karel van Oosterom, interim ambassador for the Royal Dutch Kingdom gave a reception
in honour of the Aruban delegation, during which Oduber gave a presentation on “what
the smallest island in the western hemisphere has to offer to the biggest country in the
eastern hemisphere’ to representatives of the Chinese government, Chinese investors,
representatives of countries in the region, and the media in Beijing. The presentation was
in English and an interpreter translated his words for the Chinese listeners.
He talked about the possibilities that Aruba has to offer to investors and products from
China that Aruba can import to the Latin American region, the Caribbean, and North
America via gateway.
There was also another reception in honour of the Aruban delegation given by the
KangMei Group, during which Oduber received a poster with more than 100 good wishes.
And in 2005
THE MADURO AND CURIEL'S BANK HAD THIS IN THEIR ANNUAL REPORT ABOUT THEIR ARUBAN TERRITORY FOR 2005
It is most satisfying that all of our business territories contributed significantly to those results
Aruba was up 15%
http://www.mcb-bank.com/extra_pages/AnnualReport2005.pdfThe totals of loans and advances to customers of Maduro and Curiel's increased by 10.6%
over 2004. this came about as not only the result of the renewed growth of our economies
but also an increase in the market share our banks in the Netherlands Antilles and Aruba
http://www.mcb-bank.com/extra_pages/AnnualReport2005.pdfpage 15/50
In Aruba, our Caribbean Mercantile Bank collected NAF 12 million in exchange tax,
which it pays to the Central Bank of Aruba for the Aruba government
http://www.mcb-bank.com/extra_pages/AnnualReport2005.pdfpage 16/50
AND IN 2007
From page 11
Basis of consolidation
Subsidiaries are all entities over which the Group has the power to govern the financial and operating
policies. Subsidiaries are fully consolidated from the date on which control is transferred to
the Group until the date that control ceases.
