By NEIL HARTNELL

Tribune Business Editor

nhartnell@tribunemedia.net

The US partner in a Briland tourism business yesterday slammed allegations that he "preyed" on young Bahamians to 'front' for him as "baseless".

Pablo Conde, in a statement responding to the Supreme Court action filed by his ex-Bahamian business partner, seeking more than $5m in damages from him, argued that the claims were "contradicted" by their October 2023 agreement that gave the latter an "option" to acquire the Harbour Island business and all its assets for $730,710 with payments spread over ten years.

He added that this counters Mr Gibson's claims that he was "preying" on young Bahamians to 'front' for him in industries that are supposed to be reserved exclusively for 100 percent Bahamian ownership under the National Investment Policy.

The agreement's initial phases stated that Mr Gibson wanted to "operate the rental/tour company in The Bahamas free from interference from the LLC [owned by Mr Conde] in a manner that company remains legally autonomous and independent, and follows all of the requirements and restrictions established by the laws of the Commonwealth of The Bahamas".

However, the agreement also states that paying the $800,000 tax arrears owed to the Government "shall be the sole responsibility of the LLC" and Mr Conde, with Mr Gibson assuming the obligation to pay them from that day forward. And Mr Conde also neglects to mention that Conch & Coconut had already been operating via the partnership structure for more than five years.

“Harbour Island is at the heart of our brand,” said Mr Conde. “We will not allow opportunists..... to destroy what we’ve built alongside the Bahamian people... The truth will come out in court.... We look forward to the facts...." He also pledged to defend Conch & Coconut's brand and intellectual property, which he purports to own, plus expand the business in The Bahamas and serve guests.

Mr Conde's statement added: "The frivolous lawsuit in the Bahamas Supreme Court alleging 'fronting' is nothing more than a distraction tactic designed to obscure misconduct and pressure Conch & Coconut LLC into surrendering assets outright....

"For nearly three years, Conch & Coconut LLC has invested heavily in growing the Bahamian economy - partnering with local service providers, supporting tourism and funding community initiatives. Since its inception, Conch & Coconut LLC has contributed millions back into the local economy, created job opportunities and supported the community at every level....

"Mr Conde made commitments to donate to education non-profits on Harbour Island and across The Bahamas - initiatives intended to support local education that were agreed to by Mr Gibson - yet Mr Gibson repeatedly failed to follow through on these commitments."

Mr Conde, in his lawsuit filed in the south Florida federal court, is accusing Mr Gibson and others of "trademark counterfeiting", "theft of trade secrets", and "unfair competition". However, Mr Gibson has hit back in the Supreme Court by alleging Mr Conde “preyed” upon himself and others to launch illegal “fronting” operations in industries reserved solely for local ownership.

He is also seeking a Supreme Court declaration that Pablo Conde and his US-based companies “be enjoined and/or prevented with immediate effect from operating in any form in The Commonwealth of The Bahamas”.

Mr Gibson's promised legal action, launched in the Supreme Court on Wednesday, September 10, hits back at Mr Conde’s own lawsuit against himself - filed just five days earlier in the south Florida federal court - by seeking to turn the tables on his former US partner through blaming him for Conch & Coconut accruing more than $1m in unpaid tax arrears in The Bahamas.

Mr Gibson’s legal action describes a classic ‘fronting’ arrangement where all customer payments were made offshore, and allegedly kept out of reach of the Bahamian tax authorities by Mr Conde, while he ran the on-the-ground operation in Harbour Island.

He asserted that he tried to work with Mr Conde to bring Conch & Coconut into compliance with this nation’s laws following the 2023 raid by the Department of Inland Revenue that seized some of the company’s assets and temporarily shut it down.

He alleged that he was “pressured” into signing the October 2023 agreement by Mr Conde, which the latter previously claimed would have resulted in Conch & Coconut and its Bahamas-based assets being acquired by Mr Gibson, ahead of a meeting his former business partner had purportedly “arranged” with Prime Minister Philip Davis KC.

The legal filings did not confirm if this meeting took place, and what was discussed, but Mr Gibson also alleged that the Pink Sand Spirits liquor/drinks brand was a second ‘fronting’ operation that Mr Conde asked him to form with $600,000 in capital raised from American investors.

Asserting that Mr Conde took responsibility for, but never paid, the $800,000 tax arrears owed by Conch & Coconut to the Department of Inland Revenue, Mr Gibson said he had complied with the payment plan agreed with the latter and operations continued until a second inspection was carried out by the Bahamian tax authorities in May 2025.

Tax officials deemed Conch & Coconut’s Business Licence, which had been obtained by Mr Conde, to be “fraudulent” and shut the business down. Mr Gibson is alleging his former business partner admitted that the Department of Inland Revenue’s findings were correct - a development that led him to “immediately terminate” their relationship.

Mr Gibson added that, to make a complete break with the past, he established Conch & Coconut Bahamas in May 2025 as a separate entity from the one previously operated by Mr Conde. However, in the wake of their break-up, the latter has accused his ex-Bahamian partner of stealing “the brand and business structure” that he financed and built by creating this new entity.