How Lincoln Bain purportedly earned the eye-brow raising $1.8 million
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Troubled by recent headlines about his purported wealth of $1.8 million, Leader of the Coalition for Independents Lincoln Bain said in a social media post, that it is not an issue worth discussing.
“I don’t have a problem talking about my money….The real big story is not how much money Lincoln Bain declared because it’s the same amount of money I declared the last time.”
Bain, an activist, striving to become a politician, is making this his second attempt at the House of Assembly having thrown his hat into the ring in the 2021 general election where he received 641 votes, losing to PLP Myles LaRhoda who got 1712 votes and FNM incumbent Reuben Rahming received 937 votes.
As he runs in the by-election for West Grand Bahama and Bimini, his financial disclosures caught the attention of critics who questioned how he obtained his assets.
Bain who labelled himself a “businessman” on his financial disclosure, is the wealthiest candidate running in the by-election, according to what’s stated on the disclosure.
Seeking to clarify, Bain said on Wednesday that he owned many retail, wholesale and services businesses–shoes, clothing and weddings services.
He added that most of his money was derived from Information Technology services for the Tribune and the Bahamas government.
“I am an IT professional and the Tribune came to me to do their mobile apps and websites for 100 Jamz, and to do other IT [services].
“They have been my big clients and helping pay my bills for years. They have been writing cheques to Lincoln Bain.”
He continued, “A part of what I have is because I did excellent service for the Tribune,” making other claims that Bahamas Air was another client benefiting from his services.
“I manufactured medical supplies in China and sold [them] to the Bahamas government for the hospital and clinics, medical supply business with a government contract.
“I am well known for many retail businesses, I have owned–retail, and wholesale businesses in this country. I am one of the biggest producers of mobile apps in this country—probably. Probably even in the region.”
It is not known how many of these purported businesses are in operation. Bain claimed he retired at 32 years old.
His financial declarations stated that he has $41,000 in his savings account and $600,000 in real estate. His other personal items are worth $175,000; accounts receivable is $250,000; automobile is $20,000; real estate income is $42,000; and other income is valued over $50,000.
He then declared that a property was worth $1.8 million but did not declare a salary amount.