ab.org<\/a> website, which appeared after we asked questions, the entities AB DAO, AB Foundation (Ireland) and the Timorese resort company signed a memorandum of understanding last year. It was formally terminated on 27 November, Sui and Lin said. The document, which we have seen, stipulated that between 5% and 10% of the resort\u2019s profits would go to AB Foundation (Ireland).<\/p>\nAccording to Sui, the agreement was preliminary and had been \u201cpromptly\u201d terminated, with no money changing hands after some individuals involved in the resort were sanctioned.<\/p>\n
\u201cOur core work is focused on blockchain infrastructure,\u201d he said. \u201cWe are not involved in resort development or real estate projects.\u201d<\/p>\n
He said any proposed involvement of the AB DAO network in the resort project had now been scrapped.<\/p>\n
Jos\u00e9 Ramos-Horta reveals his doubts<\/h2>\n The beachfront land that was the proposed site of the 300,000 sq m resort remains mostly empty, save for children playing soccer on a dirt field. Promotional material suggested phase one of the development would be completed by the end of 2026.<\/p>\n
The Timorese president said he was sceptical about the project from the start. \u201cI think it was a bit in their imagination,\u201d he told the Guardian and OCCRP.<\/p>\nLater he said Lin and the foundation had \u201cnever presented even any serious plans, business plans, feasibility studies, nothing\u201d to convince him the resort was going ahead. Lin told us that plans were being submitted to the appropriate local authorities, rather than as a business plan to the president, and that the project was recruiting a new general manager.<\/p>\n
Ramos-Horta also acknowledged moments of doubt about Lin, including when the businessman offered him night-vision surveillance equipment \u2013 which Lin said was to improve the CCTV system for the president\u2019s house \u2013 and after he heard of the resort\u2019s alleged links to individuals associated with Prince Group. But he said he did not like to \u201cjudge people based on allegations\u201d.<\/p>\n
\u201cEverybody I talk to, including Singaporean business, they say, yes, he has lots of money,\u201d he said. \u201cThey say, yes, he\u2019s genuine. He\u2019s not bullshit.<\/p>\n
\u201cI want [him to have the] benefit of the doubt.\u201d<\/p>\n\u2018So many Timorese died for this country to be free,\u2019 Ramos-Horta said.<\/span> Photograph: Kate Lamb\/The Guardian<\/figcaption><\/figure>\nIn messages relayed to Lin via an aide several months ago, the president warned him not to \u201cplay games with me\u201d.<\/p>\n
Asked what he meant by that, the Timorese president said: \u201cIn the sense of, you know, lying about this resort. Because is [it] really a resort with clean money, or [for Prince Group] to wash money?<\/p>\n
\u201cIs [it] really a resort, or just talk?\u201d<\/p>\n
Lin said he understood concerns about crime in Timor-Leste but the AB company \u201cand myself are not and will never be involved in any crimes\u201d. He denied any connection with the Prince Group and called the resort project a \u201cnormal commercial activity\u201d carried out in accordance with laws.<\/p>\n
The Timorese president, who at 76 is considering a third tilt at the top job, said he would not allow the nation to be exploited by malign actors. He told us he had never interacted with the sanctioned individuals involved in the planned Dili resort and when he became aware of allegations of Prince Group connections he approached international police investigators.<\/p>\n
\u201cWe must be unforgiving and ruthless against organised crime,\u201d he said.<\/p>\n
\u201cI lost brothers in the fight for independence and so many Timorese died for this country to be free. I don\u2019t want this country to be overrun by criminals.\u201d<\/p>\n<\/div>\n
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