NASSAU, BAHAMAS- U.S. entrepreneur Pablo Conde has rejected allegations that his Harbour Island venture was structured around illegal “fronting,” describing claims by former Bahamian partner Julian “Shaq” Gibson as “malicious and misleading.”
In a statement, Mr. Conde and his companies—Conch & Coconut LLC and Pink Sand Spirits Co.—said they will vigorously defend themselves against what they described as attempts to “extort money and hijack assets.” The companies argued that contract language signed in 2023 explicitly granted full autonomy to the Bahamian entity, Conch & Coconut Ltd.
“Harbour Island is at the heart of our brand,” Mr. Conde said. “We will not allow opportunists with a documented record of fraud and extortion to destroy what we’ve built alongside the Bahamian people.”
His comments follow a lawsuit filed September 10 in the Bahamas Supreme Court by Mr. Gibson, who is seeking more than $5 million in damages. The Bahamian entrepreneur alleges that Mr. Conde used him and other locals to establish business structures in breach of the National Investment Policy, which reserves certain businesses for Bahamian ownership.
Mr. Gibson’s claim accuses Mr. Conde of directing customer payments for Conch & Coconut tour services and rentals to U.S.-based accounts between 2018 and 2023, leaving Conch & Coconut Ltd. with more than $1 million in unpaid VAT and business licence fees. He contends that tax raids in 2023 and again in 2025 shuttered the business after authorities deemed licensing documents provided by Mr. Conde to be fraudulent.
Mr. Gibson argues that he signed an October 2023 agreement under pressure from Mr. Conde to formalize Conch & Coconut Ltd.’s operations and settle outstanding tax obligations. According to his filing, the agreement required Mr. Conde to assume responsibility for back taxes, which Mr. Gibson says remain unpaid.
Following the breakdown of their partnership, Mr. Gibson established Conch & Coconut Bahamas in May 2025 as a separate entity from the previous operation. He asserts that the new entity is fully Bahamian-owned and operated, and alleges that Mr. Conde continues to operate under the same brand name, causing financial harm to the new business.
Mr. Gibson also claims that Pink Sand Spirits followed a similar pattern. He alleges that he formed the Bahamian operation at Mr. Conde’s direction while the U.S. partner formed an LLC with the same name and raised financing from American investors. According to Mr. Gibson, none of the funds raised were deposited into the Bahamian entity.
In the United States District Court for the Southern District of Florida, Mr. Conde’s companies filed a lawsuit on September 5 against Mr. Gibson, his stepfather Scott Silverman, and others. That action alleges trademark counterfeiting, theft of trade secrets, breach of contract, and unfair competition. The filing claims Mr. Gibson misappropriated Conch & Coconut customer data, diverted bookings, and launched a competing operation in The Bahamas under the same name.
Mr. Conde’s companies also say they provided significant support to the Bahamian entity, including investments in equipment, housing, transportation, marketing, and philanthropic commitments. The statement asserts that Mr. Gibson failed to meet obligations under the agreement, including VAT registration, tax compliance, licensing, and maintaining vendor relationships.
Both sides allege financial and operational misconduct by the other. Mr. Conde’s in his statement noted that he has invested millions into the Bahamian economy, created jobs, and supported community initiatives, while describing the U.S. lawsuits as necessary to protect his intellectual property and business interests.
Mr. Gibson maintains that he complied with the Department of Inland Revenue’s payment plan for outstanding taxes and that the Bahamian operations were negatively affected by actions taken by Mr. Conde. He asserts that the original company owed more than $800,000 in VAT and that operational control was mismanaged.
