Amid mounting scrutiny over the failed One Caribbean Music Festival in Trinidad and Tobago, the promoter behind the event is breaking its silence. Jacho Entertainment Ltd, the company responsible for booking dancehall icon Adidja “Vybz Kartel” Palmer, says the nearly US$1 million it paid to secure the deejay’s services was acquired through fully legitimate and traceable means. “Jacho Entertainment, as a fully registered and law-abiding entertainment promotion company, conducted all foreign exchange transactions… through legal, regulated, and verifiable financial channels,” the company said in a media release issued Wednesday.
The statement comes in response to a developing investigation by the Financial Investigations Branch (FIB) and Trinidad’s Finance Ministry into the US$950,000 advance Kartel reportedly received to headline the festival before pulling out over a fee dispute. With Finance Minister Davendranath Tancoo confirming that his ministry is “supporting the investigation,” questions have swirled around how Jacho accessed such a large sum of foreign currency amid a national forex crisis. The company insists, however, there’s “no reasonable or probable cause to initiate” any probe without evidence.
“There is no basis in law or fact for any presumption of wrongdoing solely because a private sector entity successfully accessed foreign exchange through proper legal channels,” the statement continued, warning against speculation that could damage the reputation of “law-abiding entities in the creative sector.”
As pressure builds, Jacho has promised to release further statements addressing concerns, including whether concertgoers will receive refunds. Meanwhile, Island eTickets has committed to issuing full refunds starting this week, reaffirming its “unwavering commitment” to transparency. The fallout has reignited debates across the Caribbean about the massive sums paid to international performers, often in stark contrast to what is offered to local talent.
