IPI to provide information in Northern Mariana Islands

Ray Yumul, former IPI CEO has said the operator will “spill the beans.”

Northern Mariana Islands.- Ray Yumul, who has stepped down as IPI’s chief executive officer, said IPI was going to “spill the beans” on “the political influence exerted by local politicians to coerce from IPI sweetheart contracts, land leases and interesting contributions.”

Senator Paul A. Manglona told him that said IPI’s willingness to talk would benefit the people of the commonwealth.

He said: “As an advocate for transparency in government, I welcome any and all information that IPI can provide us, especially with regard to community benefit funds.”

Under the casino license agreement, IPI should contribute $20m annually to CNMI for community benefit programs. The funds shouldn’t go into the general fund, and under Article 16 of the agreement, the governor can control the use of the funds, as any disbursement to community benefit programs requires his consultation.

Manglona said the intended use of the Community Benefit Fund capitals is for programmes such as education, scholarships, infrastructure, health care and employee retirement benefits. He said he has been requesting an audit of the use and disbursement of the community benefit fund.

Under the agreement, as of October 1, 2020, IPI should have deposited had a total of $60m in the Community Benefit Fund, which would have included contributions in 2018, 2019 and 2020.

Last November, Andrew Yeom, CCC’s executive director, filed a fifth complaint against Imperial Pacific International seeking to revoke the operator’s exclusive casino licence. He argued that the company failed to pay 2021’s annual regulatory fees of US$3m. The gaming licence was suspended indefinitely last year as the operator failed to comply with regulatory orders.