$500 Million Event Taken From Black Founders Under Questionable Circumstances
January 16, 2013 (Newswire.com) - African Americans are being called on to boycott the 46th annual Caribana Festival in Toronto, Canada due to the event being taken from its founders (the Caribana Cultural Committee) and given to Scotia Bank by the country's government. According to the festivals founders, the Caribana Cultural Committee, Caribana is North America's largest and most lucrative festival. According to Canada's largest newspaper the Toronto Star, the festival generates $500 million from 1.3 million visitors[url:http://www.thestar.com/news/gta/article/992414--don-t-call-it-caribana-toronto-festival-forced-to-find-new-moniker].
The website [url:http://www.boycottcaribana.com] provides details of the decade long scheme to takeover of the festival. The website details how Black American celebrities, corporate banking interests, local, provincial, and federal Canadian government entities actions led to the $500 million cash cow being taken from its founders. According to the Toronto Star the Calgary Stampede, Carnaval de Quebec, and Stratford Shakespeare Festival received a combined $5.5 million dollars in government support while Caribana received $0. Canadian government reports indicate Caribana generates more in tax revenue and economic stimulus than all 3 combined[url:http://www.thestar.com/opinion/letters/article/839991--caribana-a-victim-of-cultural-racism].
According to former US director for fundraising, Jerome Almon the Caribana Cultural Committee was warned for a decade that there was a plan to remove the festival from their control. The announced boycott and website are set to coincide with the Dr. Martin Luther King Jr. holiday, and February's Black History Month. According to the website several high profile celebrities from pro sports, Hip Hop, and Hollywood were instrumental in the festival being taken from its owners. Documents indicate that a settlement agreement between Mr. Almon a prominent Canadian regarding the effort to take over Caribana was broken by Canadian authorities. The documents also indicate an even , even larger scheme that has cost African Americans in excess of $1 billion dollar over the past decade.
Documentation and media reports indicated that those involved include LL Cool J, Shahrukh Khan Spike Lee, Russell Simmons, Jay Z, Trayvon Martin, and dozens of other high profile Canadians and Americans.