Range Developments has once more suffered attacks in the form of anonymously written articles.
Press release via Range Developments:
An article published today on Citizenshipinsider.com, a website, called ‘The real truth behind the questioning in China of Mohammed Asaria, the chairman of Range Developments’ is riddled with false allegations and inaccuracies. The website, citizenshipinsider.com, which provides no contact details or information about who is running it, attempts to discredit certain market participants, including the Government of St Kitts & Nevis, Henley & Partners, Arton Capital and Range Developments, among others by making allegations intended to cause them damage.
“This kind of fake news story is not only damaging, but disappointing,” said Mohammed Asaria, founder of Range Developments. “I am particularly concerned that this article has been circulated to citizenship agents by competing developers to steal our business.”
Range has instructed its legal counsel to pursue disseminators of this information for circulating false and disparaging information.
The Citizenshipinsider.com article makes numerous false allegations, including:
1. ‘A group of Chinese investors who had all purchased Park Hyatt St Kitts shares from Range Developments called for the promised redemption of their shares.’ FACT: Range Developments never made any promise to redeem shares, nor have there been any requests for redemption from any Chinese investors.
2. ‘Mr Mohammed Asaria was taken away for interrogation and released after five hours and told not to leave China as he would be required again to come to the police station for further questioning.’ FACT: Mr Asaria was neither questioned by police, nor detained, nor arrested, not told he would be required at a police station for further questioning. Mr Asaria left after the event as he had to be in Geneva for the IMC event.
3. ‘Mr Mohammed Asaria then appeared in Geneva on the June 4, 2018, holding a local newspaper trying to convince everyone that he had not been in China for his launch of the Six Senses..’ FACT: Mr Asaria made no secret of the fact that he had been in China for the launch of the Six Senses St. Kitts. Mr Asaria has promoted on social media his presence in China and his appreciation to Delsk for arranging the event.
4. ‘Since the Beijing arrest of Mohammed Asaria, hundreds of investors who found themselves out of over half million US dollars each have decided to join forces to request a town hall meeting in China to discuss and request an amicable solution in holding Range Development liable for its promises to redeem their shares now that their promised five years are over.’ FACT: There is no group of investors in China requesting a town hall meeting to the best of Range’s knowledge, nor did Range Developments promise to redeem any shares after five years.
“This protest was clearly for the benefit of social media,” said Mr Asaria. “I met with a woman who said she was a lawyer and who purported to be representing a disgruntled investor who was claiming non-payment of yield during construction. I showed her documentary proof that her purported client had been paid, and she left. It was all concluded in a professional manner.”
It is clear that the sole purpose of the article is to damage Mr. Asaria’s and Range’s reputation among investors, especially within China. Range has engaged legal counsel and will pursue all available remedies and seek the maximum damages available under the relevant laws.