Kenneth Rijock

Kenneth Rijock

Monday, December 7, 2015

CAYMAN REGULATOR REPEATEDLY FAILS TO ASSIST VICTIMS OF FRAUD


The Cayman Islands Monetary Authority, known as 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 Caymans, have flooded into the Securities & Exchange Commission (SEC) in the US, and the Ontario Securities Commission (OSC) in Canada.

Cayman financial professionals advise that there are at least a dozen open and pending investigations, into major frauds, at CIMA, and not one has reportedly resulted in a criminal referral to the Royal Cayman Islands Police Service. Some of these investigations have been open for a number of years A search of recent Cayman news articles has failed to turn up a single case of money laundering, prosecuted in Grand Cayman; the only convictions I found, of several Cayman fraudsters, were obtained in United States courts, by American Federal prosecutors. All the others have never been charged, and many still pose a clear and present danger to the investing public, due to what can only be described as regulatory malpractice.


More recently, CIMA was informed six months ago, of the massive $450m trading scheme at B & C Capital, Ltd., a Cayman shell company that illegally held itself out, in writing, to be a financial institution, yet the agency has never shut down the company, or even called in its officers and agents for interviews. It has totally ignored the most prominent Cayman financial fraud to hit the island in many years, eliminating all hope that the sixty Canadian & American retirees, whose money is missing, will ever be able to achieve a recovery of even a small portion of their life savings. The fraudsters, known as the Cayman Gang of Four, appear to have evaded justice, and many victims are demanding answers from CIMA.

When a regulatory agency, located in the British Overseas Territories, fails to properly discharge its obligations and duties, with the result being widespread damage and loss, the UK Foreign & Commonwealth Office, which has jurisdiction and oversight, can enter, and take over administration of the agency, to properly carry out the mission of the agency. We saw the UK take over in the Turks & Caicos, when corruption required strong action, and in the case of CIMA, many who have observed its chronic, dysfunctional operation, are calling for it to hereafter managed by the United Kingdom.

Ms. Cindy Scotland, Managing Director, CIMA



9 comments:

  1. Cayman Islands are the worst disaster to keep money.

    ReplyDelete
    Replies
    1. your comment does not make sense...can you please explain??

      Delete
  2. Whether you are in the city for delight or for business, there is a risk that Indian Escort in Dubai a few hours allowed to while away your time
    amid the night.japanese escorts On the off chance that you haven’t been with a Dubai escort before then this will be your opportunity to be your partners for the night make fun

    ReplyDelete
  3. Biggest Dubai Escorts anency in Dubai call +971 55 8308893. you can get Indian Escorts in Dubai.This is the right place to choose your favorite Call Girls in Dubai and can get satifaction and entertainmnet from Pakistani Escorts in Dubai.

    ReplyDelete
  4. In Dubai Escorts business call +971 55 8308893, set particular request conduct business manners.
    Escorts in Dubai Agree ability with the guidelines of behavior advances business relations. Getting Call Girls in Dubai enhance your business platform. Enjoy Indian Escorts in Dubai and get entertainment from Pakistani Escorts in Dubai.

    ReplyDelete
  5. She has astounding twists and knows how to use her benefits. A girl which is mostly demanded from clients due her professionalism behavior toward them and she does not have any sort of annoying nature which humiliates a man so it will be the best.
    Call Mr. Kumar for booking this girl +971 55 8308893

    pakistani escorts in jbr
    pakistani escorts in bur dubai
    pakistani escorts in deira
    arab escorts in deira
    pakistani escorts in jumeirah
    arab escorts in dubai
    arab escorts in ajman

    ReplyDelete

  6. Russian Escort Dubai



    Our russian escort dubai is truly stunning person who loves to please and make people happy, you will feel the warmth when you meet escorts in Dubai. russian escort dubai like the idea of meeting with many men, and women’s place in the corner of the street to the drive
    Call Mr. Kumar for booking this girl +971 55 8308893

    ReplyDelete
  7. Dubai call girls


    Our Dubai call girls are best accessible escort. Pakistani Call girls Dubai are amazingly gifted. In bed obviously.What satisfies her truly? Satisfying a man. with a beautiful show Dubai call girls you can fulfill your dreams and missions of romance and many and many ways of sex to make a client really relaxed on fulfilling demands.
    Call Mr. Kumar for booking this girl +971 55 8308893

    ReplyDelete
  8. Our pakistani escort in dubai are constantly arranged to offer you the intriguing loosening up fulfillment. escort indian dubai are skilled and got energy to light you up with a potential energy in making love when you will be in bed with me you would never want to release yourself.
    Call Mr. Kumar for booking this girl +971 55 8308893

    TiTle:
    indian independent escort dubai

    dis:

    Our russian call girl in dubai see you running your fingers over her delicate body. indian escorts in sharjah< sensual smile and sexy moves will arouse your wildest desires. She will welcome you make love with her and with her erotic body in a romantic manner and really let you go in a manner as you like in foundation with her.
    Call Mr. Kumar for booking this girl +971 55 8308893

    ReplyDelete

Note: Only a member of this blog may post a comment.