Unraveling the Connection: The Abed Group's Intriguing Journey
Donations, misdirection and bitcoin.
Does it seem pretty innocent? Just a donation to an election campaign. But what if I told you that the person making the donation was not Bermudian and had no voting rights in Bermuda? What if you discovered that this person was connected to the party leader and has previously helped with an “unpaid” role within the government? Seems suspicious, doesn't it? Let's dig into this a bit more and see where the trail leads.
So, who is Mr. Gabriel Abed? H.E. Gabriel Abed serves as the Ambassador of Barbados to the United Arab Emirates. He is also the Founder and Chairman of Abed Group and Co-Founder of Bitt.
Let's delve into Bitt Global and the Abed Group.
Bitt Global
Bitt is a Barbados-based Fintech company. Upon receiving regulatory approval to operate a digital currency exchange on the island in 2018, it made several promises to Bermuda:
Collaborate with local banks to offer new financial services to residents and businesses.
Establish a new office in Hamilton, Bermuda’s capital city, to serve as the company’s regional hub for the Caribbean and Latin America.
Develop a regulatory framework for the digital currency industry on the island, in collaboration with the Bermuda government.
Provide job opportunities for Bermudians through its expansion plans on the island.
Support local charities and community organizations through corporate philanthropy and volunteerism.
H.E. Gabriel Abed, a co-founder of Bitt, was appointed as an advisor to the Premier of Bermuda in May 2018. In this role, Abed is responsible for providing advice and support to the Premier on matters related to blockchain technology and digital currencies. Abed is a recognized expert in these fields and is a vocal advocate for using blockchain technology to drive innovation in the financial services industry.
It’s worth noting that Abed’s appointment as an advisor to the Premier of Bermuda came after Bitt received regulatory approval to operate a digital currency exchange on the island. However, his advisory role has raised some concerns about potential conflicts of interest, given his position at Bitt.
The Abed Group
The Abed Group, based in Barbados, is a remarkable family office on a mission to transform global development. At the helm are two extraordinary partners, H. E. Gabriel Abed and Alexia Hefti, Esq.
H. E. Gabriel Abed is Barbados' Ambassador to the United Arab Emirates and a recognized blockchain expert. He co-founded Bitt Inc. and has been at the forefront of developing a national digital currency for the Eastern Caribbean Central Bank. His knowledge on blockchain technology has been shared with international organizations such as the IMF, World Bank, and UN.
Alexia Hefti, Esq., is the Executive Chairman of Abed Group. Her diverse background in leadership positions and unparalleled expertise in blockchain technology and finance have made her a driving force behind transforming governance systems. She serves on influential boards such as Hut 8 and the FinTech Advisory Board of the Government of Bermuda.
Together, Abed and Hefti lead the Abed Group's efforts to address socio-economic issues and foster global competitiveness. Their unwavering commitment to innovation and sustainable change is propelling us towards a brighter future.
Alexia Hefti? We know that name!
So, who is Alexia Hefti and how did she become a government consultant for the Middle East?
Alexia Hefti's role is to identify areas where Bermuda can develop economic ties and pursue collaborations in sectors such as finance, technology, and healthcare. The government believes that expanding their presence in the Middle East can diversify Bermuda's economy and create new business prospects. This initiative aims to strengthen Bermuda's global connections
Hold on a moment, who did you say your spouse was again?
Let's summarize the situation: Mr. Abed was appointed as an advisor to the Premier of Bermuda in May 2018. He also donated $10,000 in Bitcoin to that same Premier in September of 2020.
Link to transaction: https://blockchair.com/bitcoin/transaction/c763da347dcea1446f4ef190da0ae028b3f0041665bd2a568af66e49bb9a4357?from=bitcoin.com
Fast forward two years, and his spouse is awarded a position within the Government, for a role that pays $20,000 per month. From an outside perspective, this sequence of events could be interpreted as a potential "conflict of interest."
In conclusion, the relationship between Mr. Abed's involvement with the Bermudian government, his donation to the Premier, and his wife's subsequent high-paying position, all raise pertinent questions about potential conflicts of interest. While these individual actions are not inherently unethical, their cumulative effect and the timeline of these events may give an appearance of impropriety.
Transparency and integrity should be the cornerstones of any governmental dealings, especially when they intersect with private interests. It's incumbent upon our leaders to conduct affairs with not just legal correctness, but also in a manner that leaves no room for doubt or speculation about the fairness and impartiality of their actions.
This story underscores the importance of maintaining a close watch on the activities of public officials and their connections. As concerned citizens, we should demand thorough and independent examinations of potential conflicts of interest, especially when they involve influential positions within the government and substantial amounts of money. The health of our democracy depends on our vigilance and our unwillingness to ignore possible ethical transgressions, no matter how subtle they may appear.
We hope that this situation will be addressed with the transparency and seriousness it deserves, as the answers to the questions raised herein are vital to maintaining public trust and confidence in our government.