Wednesday, January 23, 2013 2:04 pm
T&C: Sandals reaches agreement, pays $12M
The Associated Press
A Wednesday statement from Turks & Caicos says the agreement involves no admission of liability.
It says the agreement and the payout relate to the resort company's cooperation with a U.S. investigation and voluntary release of evidence that was shared with a special prosecutor's office in Turk & Caicos, which is investigating local corruption.
It did not give details, but in 2011, Sandals counsel Dimitri Singh said a former senior Sandals officer was linked to "various unauthorized transactions" and said the Jamaica-based resort company was voluntarily cooperating with international authorities probing former islands officials.
Sandals media officers based in the U.S. and Jamaica made no immediate comment Wednesday.