Seychelles Government took on a massive Bond Debt with Lehman Brothers in 2007 totally over $300 Million at an interest of 10% per annum. This was exactly Two (2) years after James Michel a self professed Atheist took the reign of power from France Albert Rene.
|Lehman Brothers, one of the world's largest investment banks, filed for Chapter 11 bankruptcy after incurring worth billions of dollars.|
In 2007, at about the same time as Seychelles had issued the Two (2) massive Lehman Brothers Bonds in its favor, James Michel of San Souci, Mahe Seychelles, registered an offshore company called Soleil Investments. At the time, Seychelles had foreign exchange control laws. No citizen of Seychelles could depart from the country with more than $400.00. No transaction, could take place, to transfer funds overseas, unless the Central Bank of Seychelles approved the transaction. We need to know where every single cent of Lehman Brothers Bond money went and what were the finance charges of these transaction which will as citizens of Seychelles, will have to repay commencing in 2015 for Ten (10) years. I call on Mr. Michel to make this information public for all Seychellois, in order that we can satisfy ourselves to know that the money taken, was indeed well spent as you assert, and I doubt very much.
|James Michel shareholder in Soleil Overseas Holding Limited|
Lehman Brothers Went Bankrupt In September 2008
When Lehman Brothers went bankrupt in September of 2008, one year after Soleil Investments was formed, Bloombergs reported that James Michel took this as Devine retribution for Lehman Brothers, issuing the %300 Million Bond to Seychelles. Prior to that time though, Mr. Michel had returned from a visit to the Vatican, and declared that all our debts had in fact been paid according to him. He was of course lying to us all, which is not uncommon.
In a Bloomberg interview, Mr. Michel said:” I am of course Atheist ( do not believe in God), but now I know that God exists”….words written in an e-mail to Lehman Brothers staff.Michel blamed Lehman Brothers for the default Seychelles endured at the time and subsequently, the arrival of the IMF to run finances in Seychelles later that year. Lehmans loaned Seychelles exactly $308 Million at an interest of 24% . People of Seychelles, do the numbers, who was mad in 2007, Lehmans or Michel? According to Mr. Joseph Stiglitz, Lehmans and Government of Seychelles could not have picked a worse time to tap the global markets for money in 2007-2008. Unfortunately for the People of Seychelles, James Michel is yet to start repayment on these debts, which will last another Ten (10) years.
Now you know why James Michel has run to Shiekh Khalifa to build the simplest of things: a family fun park right next to Lehman Brothers old and still stinking Tuna factory.
Mr. Michel, can you ask Shiekh Khalifa to supply all Seychellois families with gas masks so we can enjoy the Family Fun Park next to the stinking Tuna Factory?
Thank you in advance, I promise you, if you supply the gas masks, we will hit the streets….to the Family Fun Park.
Sesel Pou Seselwa!
May God Bless All Freedom Loving Seychellois!
Written by Christopher Gill, Leader of Seychelles Freedom Party.