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The Golden saga.
The saga of Paul Golden in many ways runs parallel with another saga: That of the Virgin Islands government.
This is the stuff scary movies are made of: Just as you think it is over, the dead come alive and add another twist and turn to this never ending saga. Did I say movie? I should have said soap.
Just last week our Governor, as chairman of PFA, handed over $32.5 mill taxpayer dollars to Paul Golden, no doubt adding much needed points to this gentleman's credit rating.
There was a brief burst of disappointment and bewilderment amongst many of the Governor's supporters on STX, but there were also voices of support for the decision and cries of forgiveness for earlier crimes committed by Paul Golden. Amongst them a Senator or two.
I was rather upset myself when I confronted the Governor over the issue the day after the PFA meeting and I may have slipped an inappropriate remark or two. I now have a little more knowledge about what really happened, and let me just say that not only do we have a smart Governor; he also has his heart in the right place.
Forgiveness is a good thing, but when you have to break the law in the process and put millions of tax dollars at stake in a gamble that ultimately could cost us many many times more than the $32.5 millions we are paying up front, then I think it is worth, once again, to highlight Paul Golden, the person and how he has been handled by our government over the past eight years.
If you want the whole story you'll have to wait for the movie. The latest twists and turns ensures it blockbuster status. All I want to do in this limited space is to give you a little food for thought.
Virgin Islands Casino and Resort Act of 1995:
. . . Limiting the number of licenses awarded would attract quality, reputable, established casino operators and ensure that only operators meeting the highest standards of experience and financial integrity will be licensed to operate on the Island of St. Croix. From Casino Control Commission Resolution Nov.2. 2001.
WHEREAS, the Division of Gaming Enforcement undertook an extensive investigation into the background and qualification of the Petitioner, Paul C. Golden; and
WHEREAS, the Casino Control Commission found that Petitioner Paul C. Golden established by clear and convincing evidence that he possessed the good character, honesty, responsibility and integrity required by 32 V.I.C.436
Buchanan Ingersoll Investigation April 4 2003.
Confidential attorney ? client communication
Addressed to Hon. Charles W. Turnbull, Chairman of USVI PFA.
The Conclusion (as quoted in the report):
Paul Golden has never constructed, developed or operated a casino, conference center or hotel or any other major commercial project.
Paul Golden has multiple criminal convictions.
Paul Golden has demonstrated a continuing pattern of behavior which tends to show financial irresponsibility.
Paul Golden has been accused of defrauding a casino.
Paul Golden is a defendant in an action wherein he is alleged to have defrauded his mother of over $1.3 million. (yes, the case has been settled)
Paul Golden intends to have VIPFA spend ten times the typical square foot cost for a conference center.
Paul Golden appears to have no physical offices and has provided no verifiable credit references.
The findings in the Ingersoll report have never been disputed, and all background material that led to the conclusion is available in public records online. It is interesting that the Casino Control Commission has never acknowledged the existence of the Ingersoll report. In 2007, after Paul Golden got his 10th extension to get his act together, I went to see C.C.C. Chairwoman Eileen Petersen. She had not seen the Ingersoll report. I gave her a copy and copies for her to give to all commission members. One week later I met with Eileen Petersen again. She still had not read the report and insisted that she did not need to. The same can be said about our Senators. Hand delivered copies were put in front of them, only to be ignored. When I asked the Governor if he had read it, he said yes.
My own conclusion:
Paul Golden got his CZM permit on a technicality. If the courts decide to start the permitting process partly or all over again, and I think they will, the likelihood of this project taking off is small. But having lived here 20 years, you never know! And that puts the ball right back in the hands of the Casino Control Commission. Over the years there have been many claims and theories involving corruption. I have seen nothing that will substantiate that. I have, however, seen plenty of cronyism, and where that stops and corruption starts takes a legal mind to figure out.
We need economical development on STX and we are desperate for more hotel capacity. But based on the findings about Paul Golden's character I strongly advise not to let this man into our little society. The price is too high. We cannot afford a bailout. We cannot afford to gamble that Paul Golden's pattern of behavior has changed. I suggest we obey the law that requires "QUALITY, REPUTABLE, ESTABLISHED CASINO OPERATORS AND ENSURE THAT ONLY OPERATORS MEETING THE HIGHEST STANDARDS OF EXPERIENCE AND FINANCIAL INTEGRATY WILL BE LICENSED TO OPERATE ON THE ISLAND OF ST. CROIX.
Steffen Larsen