BML Properties Awarded $1.6B in Fraud Case

BML Properties Ltd., the original developer of the Baha Mar casino resort in the Bahamas, has been awarded $1.6 billion after a New York judge found China Construction America Inc. (CCA) guilty of extensive fraud. The ruling restores BML's $845 million investment and includes interest dating back to May 2014, with Judge Andrew Borrock stating that CCA committed 'fraud beyond any doubt' and breached its contractual obligations, resulting in the project's collapse in 2015. BML's businessman Sarkis Izmirlian expressed that this decision is a major vindication after a long legal battle, which began in 2017. CCA, a subsidiary of China State Construction Engineering, plans to appeal the ruling, calling it 'deeply flawed.' The Baha Mar resort has a troubled history, initially anticipated to boost the Bahamian economy, but faced significant delays and bankruptcy before being acquired by Chow Tai Fook Enterprises in 2016. The case highlights ongoing tensions between foreign investment and local development in major infrastructure projects.