British Co. Exec Arrested in Cuba

Havana's Hotel Saratoga

HAVANA TIMES, Oct. 17 — The chief executive of a British company operating in Cuba was arrested last week and its offices closed by Havana authorities, reports Reuters from the Cuban capital on Monday.

The news agency identified the executive as Amado Fakhre, a Lebanese-born British citizen.  Details of the accusations against Fakhre and other people possibly involved were not available at this time.

The arrest is the latest in a chain of detentions of foreign business people and their Cuban employees and counterparts, including officials, involved in corrupt dealings that cheat the Cuban government in a number of schemes.

“Coral Capital Group Ltd, registered in the British Virgin Islands in 1999, is best known in Cuba as the joint venture partner in Havana’s upscale Saratoga Hotel and another hotel complex on the resort key of Cayo Coco.

“It had plans to build golf courses and related real estate developments near Havana, for which it had begun raising equity capital, and expected to sign a final agreement with the Cuban government by 2012,” noted Reuters.

President Raul Castro has said on numerous occasions that he plans to rigorously combat corruption and dozens of executives and officials, including high level ones, have been convicted and sentenced to prison terms.

Read the full Reuters exclusive report.

One thought on “British Co. Exec Arrested in Cuba

  • Your reports are so short when it comes to these types of stories!

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