News about the Cayman Islands in the Foreign Press

Tuesday, May 18, 2004

Cayman bank accounts set up to elude SEC

RALEIGH, USA – According to the Charlotte Observer, Joseph Frederick Denson Jr has been indicted in an international scam that defrauded investors of more than $200 million.  To elude the scrutiny of investigators from the SEC, Denson and others set up bank accounts in the Cayman Islands, the indictment said.

Angolan government funds traced to Cayman

LOS ANGELES, USA – The Los Angeles Times reports that as much as $1 billion a year has disappeared from Angola’s treasury.  European judicial authorities say they have traced tens of millions of dollars in Angolan government funds to private bank accounts in the Cayman Islands and elsewhere.

Warrant for man on vacation in Cayman

GOLDEN, USA – According to the Canyon Courier, authorities in Colorado last week ordered the arrest on felony theft charges of Charles J Pyne Jr, a former contractor for the Evergreen Fire Protection District. Pyne was reportedly vacationing in the Cayman Islands at the time.

Director charged over shares in Cayman trust

Singapore – The Business Times reports that Koh See Heong, a former director of Datacraft Asia, appeared in court charged with failure to disclose his interest in and sale of Datacraft shares held in Cayman Islands trust account.

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