An FBI agent carries boxes of documents from Bank of Saipan on Monday.
THE Federal Bureau of Investigation executed a search warrant at the Bank of Saipan on Monday morning to gather information about the Building Optimism, Opportunity and Stability Together or BOOST program.
Provided by the Office of the Governor, the Department of Finance, and the Department of Commerce, the program is administered by the Bank of Saipan and is funded by the American Rescue Plan Act.
“The FBI is inquiring about the BOOST program,” a bank staffer who requested anonymity told Variety.
The staffer said the bank is no longer accepting BOOST program grant applications, adding that the last day to submit an application was Dec. 18.
Asked for comment, FBI public affairs specialist James Curry said in an email: “I can confirm an FBI investigation, but because the investigation is ongoing, we can’t share anything additional at this time.”
FBI agents were seen leaving the bank with boxes of documents.
BOS President John Z. Arroyo declined to comment.
On Monday afternoon, he testified before a joint hearing conducted by the House Committees on Ways and Means, and Judiciary and Governmental Operations, which are looking into the BOOST program.
According to the program, BOOST aims to provide financial assistance to CNMI businesses and nonprofit organizations: “The intent of the program is to support the viability of those businesses and the employment opportunities they offer residents of the CNMI, to further the government’s goal of a diverse economy, and to increase Commonwealth tax revenues.
“Through BOOST financial assistance is provided to local businesses and non-profit organizations in the form of grants and business coaching through counseling and training programs.”
