In a shocking turn of events, allegations have emerged against Concord Wilshire, a prominent Florida developer, and Bahamian officials regarding a clandestine deal that has left innovators Joseph Brown and Howard Babcock feeling betrayed and unjustly deprived of rightful compensation.
In November 2023, a private jet flew to the Bahamas carrying billionaire developer Steve Sirang and partners Joseph Brown and Howard Babcock to facilitate the sale of the Grand Lucayan Resort. Prior to this flight, extensive research and development were conducted by Brown and his dedicated team to position the resort as a lucrative investment opportunity. The trip was meticulously planned, complete with customs agents ready to meet the jet on the tarmac, a luxurious limousine waiting outside the airport, and a knowledgeable tour guide to showcase the nearby Carnival Cruise Line's billion-dollar development as a comparative benchmark.
Upon arrival, a personal tour of the resort was conducted, followed by a private lunch to discuss potential investment opportunities with Sirang. The developer expressed genuine interest in acquiring the resort, and both parties acknowledged the need for a commission agreement. However, despite verbal assurances and ongoing negotiations, no formal success agreement was signed, leaving Brown and Babcock in an intentional precarious position.
After two years, the Bahamian government, alongside Sirang, has allegedly used the absence of a signed contract as an excuse to deny the payment of a success fee, despite benefiting significantly from the work and intellectual property provided by Brown and Babcock. This has left Brown and Babcock in debt of $200,000 in expenses over a three-year period. Suspiciously, without doing any of the work that Brown and Babcock did—proven by documents—the Colliers Group is on record to receive the 2% that Brown and Babcock earned. The buyer, Concord Wilshire, has never met them.
The Bahamas government, which initially seemed supportive of foreign investments, is now accused of complicity in this alleged scheme, raising questions about the integrity of their dealings with foreign entrepreneurs. Sirang pointed fingers at the Bahamian authorities, who in turn shifted the blame back to Concord Wilshire, creating a frustrating cycle of evasion.
Time-stamped videos, audio recordings, and photographs document this betrayal from beginning to end, providing compelling evidence of the interactions and agreements that took place. These materials reveal the extent of the collaboration and the subsequent denials that have left Brown and Babcock in debt and struggling to recover their rightful compensation.
As this story unfolds, Joseph Brown and Howard Babcock will file legal action, aiming to reclaim what is rightfully theirs and expose the underlying issues of accountability and fairness in cross-border transactions.
Stay tuned for updates on this developing story that reveals the darker side of investment dealings in paradise.
