One publication has indicated that Patrick Liotard-Vogt, the Nestlé heir and chairman and owner of ‘MySpace, “seems to have absconded to the Caribbean, even though he has lawsuits worth millions of Swiss francs raging in his native Switzerland.”
According to reports in the Swiss press, Liotard-Vogt left for St Kitts after a former business partner, a franchisee of the Diners’ Club credit card and a Swiss footballer filed claims against him totalling almost £3m,.
The media reports indicate that the businessman, whose great-grandfather worked his way up to become chairman and chief executive of Swiss food giant Nestlé, reckons he had already planned to go to St Kitts to oversee a luxury property development there.
It is not known if he is currently in St. Kitts and Nevis or exactly where he might be residing, but Liotard-Vogt has in recent times been seen featuring in photographs at Kittitian Hill, which is a new resort being developed in the western part of St. Kitts.
The project has been known to have received partial funding from the Sugar Industry Diversification Foundation (SIDF) which is believed by some citizens on the island, to have been established by the incumbent government of Prime Minister Denzil Douglas.
When Liotard-Vogt was asked if he was in financial difficulties, he quipped, “I can afford three hot meals a day… No financial difficulties in sight”, declaring he had long planned to stay in St Kitts while overseeing a luxury property development there. “Being on the spot is better than (in) a foreign country,”, he said.
It is not known if the business deal he has in St. Kitts is Kittitian Hill.