IPI under scrutiny over construction security deposit
The Department of Public Works has denied receiving US$1m from Imperial Pacific International (IPI).
Northern Mariana Islands.- IPI faces scrutiny over a reported US$1m construction security deposit discrepancy. The Department of Public Works (DPW) secretary, Ray N. Yumul, says the DPW did not receive the deposit, refuting claims made by IPI director How Yo Chi.
In a letter to Yumul, Chi said IPI had recently learned about the transaction, but Yumul responded that DPW records do not indicate any deposit and that the department does not handle security deposits for construction projects.
How Yo Chi became IPI Director in October, succeeding Dongting Zheng, who was based in China. In October, the CCC determined that IPI had to pay US$62m in casino licence fees to the CNMI government within 30 days. According to the CCC, IPI owes the CNMI government US$15.5m a year for its exclusive casino licence fees for the years 2020, 2021, 2022, and 2023, giving a total of US$62m.
