Caribbean

Businessman With Assets in BVI and USVI Puts Up $500,000 Corporate Security Bond For Andrew Fahie

Former BVI Premier Andrew Fahie is one step closer to being released from the federal detention facility in Miami where he has been held since his arrest at the end of April on drug trafficking and money laundering charges. Albion “Bobby” Hodge, a local businessman, has reportedly stepped forward to underwrite the $500,000 corporate security bond Fahie needs as part of his $1,000,000 total bail amount. The funds used for the corporate security bond are subject to a Nebbia hearing, meaning that the source of the funds or assets used to post bail must be disclosed. Hodge, who filed documents with the court as part of this process, estimates his net worth at more than $30 million dollars. Saying that he is a childhood acquaintance of Fahie, Hodge, a dual citizen of the United Kingdom and the United States, provided the court with a list of several businesses that he owns, both in the British Virgin Islands and the U.S. Virgin Islands  — incluing the CSY Marina, a Hertz rental car franch...