Tourism and Transport Minister Ewart Brown (pictured) last night offered to buy back the Flatts property he sold to the Bermuda Housing Corporation (BHC) after the Auditor General attacked the deal.

The BHC bought the property for $602,000, of which $152,000 had been spent making it ready for rental.

The Minister said since the closure of the criminal investigation by Police into wrongdoing at BHC, a number of comments have been made linking Government MPs and Ministers to allegations of what has been termed ?unethical behaviour? involving the BHC.

He said his name had cropped up but he said there was nothing unethical or untoward about the manner in which that project was handled.

Dr. Brown said his parents had gifted him the property at 18 North Shore Road, containing a two-bedroom apartment and enough land on the southern side to build a cottage.

After BHC had done its renovations it was sold for $450,000.

?The first allegation is that I should have disclosed my participation in the transaction.

?To this allegation, I say that at no time was my name or identity concealed. The property was in my name and conveyed to BHC in my name.

?At all times during the transaction between myself and the BHC, all parties, including the Government, were fully aware that I was the seller and the BHC was the buyer. There was never any attempt to hide behind trusts or companies.?

He said the transaction and his specific involvement in it, was disclosed to Cabinet.

He said it had also been alleged that BHC did not conduct a proper appraisal on the property.

?I was not aware of what procedure the BHC had or should have had in place with regard to appraisals or to the purchase of properties, nor was I aware an appraisal was not conducted.

?It was, and is, my firm belief that BHC paid a fair, if not below market, price for the property.

?Any reference to this transaction as one where Government officials took from the public coffers or received unusual benefit from an inside deal is erroneous and patently unwarranted.

?Any claim this transaction was in any way dishonest is scurrilous. Everything about the transaction was above board, and, further, there was a distinct benefit to the public.

?Nonetheless, I stand ready for the BHC and myself to be restored to our original positions, and offer to purchase the property back from the BHC for the full $602,000 price they paid for it. ?With the details of this private business transaction now in the public domain this will conclude my comments on the matter.?