Bankruptcy - Haiti Observer Blog

According to Wyclef Jean's accountant in an email to his creditors: "there ain't no money". His business manager declared that the singer was broke.

Wyclef Jean agreed in 2013 to pay the law firm Shukat Arrow Hafer Weber & Herbsman $100,000 to settle an outstanding bill that had reached $133,000. The disbursement were to be as follows Wyclef Jean was to pay the firm $10,000 by August 1, 2013, and $50,000 by year's end. However, record showed that he did not make any payment.

In addition, The Haitian Rap Singer is still dealing with a tax lien of around $2.9 million that he has not paid

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A warning has been issued to citizens of Haiti against all non essential travel to the United States especially considering the current situation prevailing there. In Washington D.C. the highest number of hate crimes has been committed. To respond to emergencies or crimes, the local authorities have limited abilities in certain areas.

Reasons To Avoid Travel

Shootings on a mass scale, gun violence, depression at high rate, ADD or Attention Deficit Disorder and epidemic rates of people getting overweight, etc are on the rise in the US. Citizens of Haiti are urged to exercise caution while visiting US.

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Is this a sign of what the year 2013 is going to be for former Haitian president Jean Bertrand?

The former president of Haiti, Jean-Bertrand is scheduled to appear in front of the Prosecutor of the Civil Court of Port-au-Prince this January 3, 2013 to answer two separate complaints. The Fanmi lavalas leader is going to be buzy as he will deal with a group of former students of his social work "La Fanmi Se Lavi" as well as his alleged responsibility in bankruptcy for the fraudulent financial cooperatives in 2002 and 2003.

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A complaint was filed against Jean-Bertrand Aristide, former President, by the National Coordination of Members Victim of Cooperatives - (CONASOVIC) for conspiracy, fraud, theft and breach of trust.

Vast Swindling Leaves Members Ruined
CONASOVIC Coordonnateur, Rosemond Jean made clarifications that, former President of CNC - Council of Cooperatives, Henriot Petiote, Head of United Hearts, David Chery and former leader of the CADEC - Cooperative of Insurance Savings and Credit have also been pursued in the complaint by Members Victim of Cooperatives.

During the bankruptcy of 2002-2003, all assets had been lost by the financial cooperative members numbering thousands who had joined the scheme attracted by the 10% interest rate promised. There was a collapse of the get rich scheme due to the vast swindle thus leaving the members ruined and Haiti, much poorer.

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Debt bondage occurs when a person is forced into debt, or voluntarily commits themselves as a form of collateral to pay off a debt.

The punitive nature of the system undervalues work performed and undercredits the debt being paid down. Circumstances of debt bondage are uncertain as to scope of tasks performed and duration of labor. As a result little progress is made towards paying down the debt. It can often turn into an intergenerational debt burden.

The United Nations officially considers debt bondage as a type of "modern day slavery". Since the mid-fifties, it has been legally banned by article 1(a) of the United Nations 1956 Supplementary Convention on the Abolition of Slavery. But nonetheless, it continues unabated in underdeveloped countries, such as South Asia and the Caribbean. In these places, no infrastructure exists to declare bankruptcy or be protected by consumer protection laws. Small- or mid-size businesses can't get approved for credit because they own no land titles or liquidity assets as forms of collateral.

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Our presidential candidate Michel Martelly can feel our pain because he knows what it feels like not to be able to pay his bills. The "Haitian Joudalist" just learned that Michel Martelly, aka Sweet Micky, lost three properties in South Florida due to foreclosure.

The Miami Herald reported that our potential president, Michel Martelly, lost three houses recently in South Florida. In addition, there is a loan for over $1 million that he stopped payment on.

One of the foreclosed homes was a 5-bedroom house located in Royal Palm Beach. According to Miami Herald: "The Haitian presidential candidate Michel Martelly bought in 2005 a $900,000 Palm Beach County home and lost it in foreclosure. "

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