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News from Cayman:




Cayman Islands

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Bahamas freezes money stolen by Cayman Islands fraudster

February 9, 2016
Bahamas freezes money stolen by Cayman Islands fraudster MIAMI, USA -- Reliable sources in the Bahamas have reported that a government agency there has frozen corporate bank accounts controlled by Cayman Islands securities trader, Ryan Bateman. The companies named are Bahamas Exploration Limited, and Atlantic Petroleum Limited.

Cayman Islands fraudsters used stationery from defunct bank to steal millions from investors

February 8, 2016
Cayman Islands fraudsters used stationery from defunct bank to steal millions from investors MIAMI, USA -- A group of four Cayman Islands fraudsters, specifically ringleader Sharon Lexa Lamb and Fernando Moto Mendes, took the letterhead stationery of the defunct Dundee Merchant Bank, from which Lamb had been previously fired, and manufactured documents that purported to be...

Guilty verdict in Cayman Islands corruption trial

February 6, 2016
Guilty verdict in Cayman Islands corruption trial GEORGE TOWN, Cayman Islands (CNS) -- The former chair of the Cayman Islands Health Services Authority (HSA), Canover Watson (45), has been found guilty of two counts of conspiracy to defraud, one count of conflict of interest, one count of fraud on government and one count of breach of trust.

Canadian bank accused of facilitating major Caribbean financial crimes

February 3, 2016
Canadian bank accused of facilitating major Caribbean financial crimes TORONTO, Canada -- Toronto Dominion Bank, one of Canada's largest financial institutions, has been accused by the victims of two of the Caribbean's most notorious financial crime scandals of allowing major fraudsters to use the bank to commit massive fraud and money laundering offences.

BVI participates in EU funded regional study on diversification

February 2, 2016
BVI participates in EU funded regional study on diversification ROAD TOWN, BVI -- The British Virgin Islands is participating in a regional study on diversification of the Caribbean Overseas Countries and Territories (OCTs). The study was launched on November 26, 2015, and is being conducted by the European Union funded Caribbean Overseas...

Billionaire's mega-yacht destroys Cayman Islands reef

January 28, 2016
Billionaire's mega-yacht destroys Cayman Islands reef GEORGE TOWN, Cayman Islands (CNS) -- An anchor chain on the 300-foot mega-yacht, the MV Tatoosh, owned by billionaire Paul Allen, has destroyed almost 14,000 sq. ft of reef in a Cayman Islands replenishment zone, the Department of Environment confirmed following a survey of the area.

Backbench exodus may trigger early poll in the Cayman Islands

January 27, 2016
Backbench exodus may trigger early poll in the Cayman Islands GEORGE TOWN, Cayman Islands (CNS) -- The departure of three members of the Cayman Islands Legislative Assembly from the government backbench could trigger an early general election, the premier said, which would be conducted under the old multi-member voting system.

Cayman Islands governor struggles to explain offshore finance sector

January 27, 2016
Cayman Islands governor struggles to explain offshore finance sector GEORGE TOWN, Cayman Islands (CNS) -- Quizzed over what the Cayman Islands and its offshore finance sector means to the people of Britain, Governor Helen Kilpatrick struggled to answer reporter Jacques Peretti in a documentary aired on the BBC in the UK on Friday evening.

Cayman Islands fraud victim rejects counterclaim by alleged perpetrator

January 26, 2016
Cayman Islands fraud victim rejects counterclaim by alleged perpetrator GEORGE TOWN, Cayman Islands -- Retired Canadian attorney, Lawrence Heath QC, has responded to a counterclaim filed in his Cayman Islands lawsuit against Sharon Lexa Lamb and Dundee Merchant Bank in a $450 million investment fraud scandal. Lamb alleged that Heath defamed her by...

Daylight saving time plans shelved for the Cayman Islands

January 25, 2016
Daylight saving time plans shelved for the Cayman Islands GEORGE TOWN, Cayman Islands (CNS) -- Premier Alden McLaughlin has confirmed that plans to introduce daylight saving time in the Cayman Islands have been shelved. The government had indicated it would introduce the change to local clocks in March in order to keep in-step with...

Commentary: Raise the country risk for the Cayman Islands

January 23, 2016
Commentary: Raise the country risk for the Cayman Islands Last August, when the news broke about the $450 million financial theft in the Cayman Islands, where the individuals now known as the Cayman Gang of Four stole the accounts of Canadian and American retirees and pensioners, I then asked this question: Should we raise country risk...

Cayman Islands fugitive moves back to Panama

January 22, 2016
Cayman Islands fugitive moves back to Panama MIAMI, USA -- Ryan Bateman, the fugitive Canadian stock trader who walked off with at least $450 million of investor accounts, and who is wanted in the Cayman Islands, has returned to one of his favourite haunts, Panama. Bateman and his brother Cody own an unlicensed wealth management...

Special economic zone adds US$70 million to Cayman Islands economy

January 22, 2016
Special economic zone adds US$70 million to Cayman Islands economy GEORGE TOWN, Cayman Islands (CNS) -- Cayman Enterprise City (CEC) officials say that the special economic zone (SEZ) in Grand Cayman has attracted 60 new companies over the past year, that its impact to the Cayman Islands economy since its creation is nearly US$70 million.

Cayman Islands government teeters on brink over parliamentary quorum

January 20, 2016
Cayman Islands government teeters on brink over parliamentary quorum GEORGE TOWN, Cayman Islands (CNS) -- With three government members of parliament having defected in less than two months, the People’s Progressive Movement (PPM) government in the Cayman Islands still has a slender majority on the floor of the Legislative Assembly but...

BBC documentary set to scandalize Cayman Islands

January 20, 2016
BBC documentary set to scandalize Cayman Islands GEORGE TOWN, Cayman Islands (CNS) -- A new BBC documentary on the Cayman Islands due to air in the UK on Friday is likely to scandalize the jurisdiction once again. Despite efforts by the Cayman Islands to shake off the tax haven label, the programme by Jacques Peretti will be focusing...

Commentary: Cayman Islands regulator allows unlicensed bank to deceive and defraud clients

January 20, 2016
Commentary: Cayman Islands regulator allows unlicensed bank to deceive and defraud clients Take a minute and call this New York City telephone number: (646) 202-9301. You will be connected to "consultants" operating Dundee Merchant Bank, a closed bank in the Cayman Islands. If you are a client, a smooth-talking agent will assure you that everything is fine with your investments.

Commentary: Cayman Islands regulator ducks media questions in $450m fraud scandal

January 14, 2016
Commentary: Cayman Islands regulator ducks media questions in $450m fraud scandal The Cayman Islands Monetary Authority, commonly known as CIMA, has responded to Cayman media questions regarding its actions, or lack of them, in relation to the $450 million financial scandal perpetrated by local financial professionals known as the Gang of Four. CIMA stands accused...

Former Cayman office manager sues CONCACAF for wrongful dismissal

January 9, 2016
Former Cayman office manager sues CONCACAF for wrongful dismissal GEORGE TOWN, Cayman Islands (CNS) -- A woman employed as head of international affairs in the Cayman Islands office of the Confederation of North, Central America and Caribbean Association Football (CONCACAF) is suing the regional football association over wrongful dismissal.

Cayman bank lent $240,000 to company owned by disgraced former FIFA officials

January 7, 2016
Cayman bank lent $240,000 to company owned by disgraced former FIFA officials GEORGE TOWN, Cayman Islands -- Former Confederation of North, Central America and Caribbean Association Football (CONCACAF) president, Jeffrey Webb, borrowed money from Fidelity Bank in the Cayman Islands on behalf of a sports firm he owned with Jack Warner, his predecessor.

Commentary: Cayman regulator has jurisdiction over fraudster company but ignores its responsibilities

January 7, 2016
Commentary: Cayman regulator has jurisdiction over fraudster company but ignores its responsibilities The Cayman Islands Monetary Authority (CIMA) has denied that it has jurisdiction over B & C Capital Ltd, Ryan Bateman's Cayman corporation that stole over $450 million from investors, on the grounds that it is an Exempted Company. Unfortunately, CIMA has chosen to ignore specific...

Cayman Islands regulator refuses to assist with $450m fraud investigation

January 6, 2016
Cayman Islands regulator refuses to assist with $450m fraud investigation MIAMI, USA -- Investigators at a North American regulatory and law enforcement agency are reportedly incensed that the Cayman Islands Monetary Authority (CIMA) has refused to supply any assistance in connection with an investigation into the theft of close to a half a billion US dollars.

Panamanian lawyer linked to $450m Cayman Islands fraud

January 1, 2016
Panamanian lawyer linked to $450m Cayman Islands fraud MIAMI, USA -- Ismael Gerli, a Panamanian attorney who has been identified as a participant in a number of money laundering and fraudulent schemes, has been linked to a $450 million trading scam in the Cayman Islands, and may have escaped arrest due to being a confidential informant for a US...

Regional football body sues sports firm to reclaim kickbacks to Cayman Islander

December 24, 2015
Regional football body sues sports firm to reclaim kickbacks to Cayman Islander GEORGE TOWN, Cayman Islands (CNS) -- The regional football body, the Confederation of North, Central American and Caribbean Association Football (CONCACAF), is trying to reclaim money amounting to tens of millions of dollars that it says was given to its former president.

Cayman Islands bank to pay $5 million in US tax evasion probe

December 19, 2015
Cayman Islands bank to pay $5 million in US tax evasion probe GEORGE TOWN, Cayman Islands (CNS) -- Cayman National Corporation (CNC) is expecting to part with some $5 million in fines to US authorities in relation to what the bank called “past wrongdoing” by two of its companies, Cayman National Securities and Cayman National Trust Company.

Cayman Islands Football Association plans open review of 'Goal' project

December 19, 2015
Cayman Islands Football Association plans open review of 'Goal' project GEORGE TOWN, Cayman Islands (CNS) -- The Cayman Islands Football Association (CIFA), which remains embroiled in the wider international football scandal, has announced plans to convene a panel to review donations that it received for Goal, a grassroots project funded by FIFA.

Former Cayman Islands football chief fingers Panamanian corporations in FIFA corruption scandal

December 16, 2015
Former Cayman Islands football chief fingers Panamanian corporations in FIFA corruption scandal MIAMI, USA -- Jeffrey Webb, the former head of the Cayman Islands Football Association, and who had pleaded guilty to his involvement in the massive FIFA corruption probe, has been cooperating with US law enforcement authorities in their investigation into the payment of millions of...

Commentary: Cayman Islands regulator repeatedly fails to assist victims of fraud

December 16, 2015
Commentary: Cayman Islands regulator repeatedly fails to assist victims of fraud The Cayman Islands Monetary Authority (CIMA) has repeatedly failed to stop financial fraud occurring within its jurisdiction, and has not assisted victims to recover assets that have been stolen from them by Cayman-based financial fraudsters. Complaints of losses, due to fraud in the Cayman Islands...

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