Caribbean News Now!

About Us Contact Us


Jump to your country or territory of interest


Advertise with us

Reach our daily visitors from around the Caribbean and throughout the world. Click here for rates and placements.


Submit news and opinion for publication


Click here to receive our daily regional news headlines by email.


Click here to browse our extensive archives going back to 2004

Also, for the convenience of our readers and the online community generally, we have reproduced the complete Caribbean Net News archives from 2004 to 2010 here.

Climate Change Watch

The Caribbean is especially vulnerable to rising sea levels brought about by global warming. Read the latest news and information here...

Follow Caribbean News Now on Twitter
Connect with Caribbean News Now on Linkedin

News from the Caribbean:

Back To Today's News

Cayman bank lent $240,000 to company owned by disgraced former FIFA officials
Published on January 7, 2016 Email To Friend    Print Version

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 at CONCACAF, with the help of Webb’s former business partner Canover Watson.

Jeffrey Webb, former CONCACAF president and former FIFA vice president
Brett Hill, Fidelity’s chief executive, gave evidence in Watson’s fraud trial that officials at the bank approved a loan in 2011 to JD International for US$240,000 at the request of Webb, who was working at the bank at the time, Cayman News Service reported.

That firm, which was owned by Webb, Warner and Costas Takkas, has also been embroiled in the ongoing FIFA corruption probes.

Jack Warner, former Trinidad politician, former CONCACAF president and disgraced FIFA vice president
The jurors heard Monday that Webb had sent questions from the bank about the loan to Watson for help in answering them and securing the money, which the bank was led to believe would be invested in AIS Cayman Ltd, which had won a lucrative contract with the local hospital, but was really owned by Watson and Webb, fronted by two sham directors.

However, the crown maintains in its case against Watson and Webb that the money was never invested in AIS but was used instead to pay off another loan on a house that Webb owned in Atlanta, Georgia.

The loan was granted by the bank for three months and the cash went first into the AIS Cayman Ltd account at Fidelity, which was controlled by Webb, the only signatory on the account, and then on to his account with Wells Fargo in the US. Hill confirmed that the loan was paid in full after the three months.
Reads: 5685

Click here to receive daily news headlines from Caribbean News Now!



No comments on this topic yet. Be the first one to submit a comment.


As a result of our comments feature being overtaken in recent weeks by spammers using fake email addresses, producing a large number of bounced verification emails each day, we have reluctantly decided to suspend the comments section until further notice.

User comments posted on this website are the sole views and opinions of the comment author and are not representative of Caribbean News Now or its staff. Caribbean News Now accepts no liability and will not be held accountable for user comments.
Caribbean News Now reserves the right to remove, edit or censor any comments. Any content that is considered unsuitable, unlawful or offensive, includes personal details, advertises or promotes products, services or websites or repeats previous comments will not be approved.
Before posting, please refer to our Terms of Use and Privacy Policy.


Other Headlines:

Regional Sports: