Feds Investigate Businessman Managing Government Agency Investments

Puerto Rico “is the place to invest in right now, because inefficiency breeds the biggest opportunities,” says Michael Scott Williams King, founder of financial firms Kinetic Funds and Kinetic International. A native of Michigan, he arrived on the Island five years ago attracted by the incentives the government offered investors. He benefits from Law 20 on the export of services and Law 22 for the transfer of foreign investors to Puerto Rico. Since 2016, he has managed $18 million in public funds from the State Insurance Fund Corporation (CFSE, in Spanish) and the Automobile Accident Compensation Administration (ACAA, for its initials in Spanish) through Kinetic Funds. Williams organized an investor summit from Feb.

Federales investigan a empresario que maneja inversiones de agencias de Gobierno

Puerto Rico “es el lugar para invertir en este momento, porque la ineficiencia genera las mayores oportunidades”, dice Michael Scott Williams King, fundador de las empresas financieras Kinetic Funds y Kinetic International.  

Oriundo de Michigan, llegó a la Isla hace cinco años atraído por los incentivos para inversionistas que ofrece el Gobierno. Es beneficiario de la ley 20 de exportación de servicios y la ley 22 para el traslado de inversionistas extranjeros a Puerto Rico. Desde el 2016, maneja $18 millones en fondos públicos de la Corporación del Fondo del Seguro (CFSE) del Estado y la Autoridad de Compensación por Accidentes Automovilísticos (ACAA) a través de Kinetic Funds. Williams organizó una convención para inversionistas del 27 de febrero al 1 de marzo de 2019 en el hotel Vanderbilt en Condado para presentar los servicios de Kinetic International. “¿Por qué [invertir] ahora?

The “I won’t allow it” generation demands Ricardo Rosselló’s resignation

Genesis, Zorimar and Rafael were talking on Cristo Street before darting off towards the San Sebastián Street. They were fleeing from a stampede that was unleashed in Old San Juan after the Puerto Rico police launched tear gas. “This is disrespectful, the government is behaving like a dictatorship,” shouted Rafael Figueroa as he ran up the street. He’s 18, an economics student at the University of Puerto Rico (UPR), Mayagüez campus, and traveled to Old San Juan to demand Gov. Ricardo Rosselló’s resignation. Genesis Suriel, 19, studies biology at the UPR in Ponce, as does her friend her friend Zorimar Rodríguez, 20.

La generación del “yo no me dejo” exige la renuncia de Ricardo Rosselló

La falta de liderato y de poder de convocatoria masiva de las organizaciones de la sociedad civil, dan paso a las multitudes en movimiento que, aunque sigan un mismo fin, se organizan y se desplazan de forma fragmentada, orgánica e impredecible. Todo el mundo aquí pide la renuncia del Gobernador y sin embargo, la “generación del yo no me dejo” no tiene esperanza en ninguno de los posibles sustitutos.

The lobbyists who promoted Opportunity Zones for Puerto Rico

Puerto Rico’s Resident Commissioner in Washington, Jenniffer González, is like the godmother of the Opportunity Zones in U.S. Congress. She claims as her achievement that the island was included in said investors’ exemption program, which is part of President Donald Trump’s tax reform. While states can only designate 25% of their census areas below the poverty level as an Opportunity Zone, “almost 94%” of Puerto Rico was designated as that category, according to the Commissioner. González was not alone in her endeavor. There were other players in Congress promoting the Opportunity Zones for the island.