Chief Justice, Anthony Smellie, Attorney General, David Ballantyne
The four defendants in the Euro Bank money laundering trial were acquitted on Tuesday January 14, bringing an end to one of the most controversial cases in the Cayman Islands' legal history.
In a remarkable twist of events, charges against Mr. Donald Stewart, Mr. Brian Cunha, Mr. Ivan Burges and Ms. Judith Donegan were dropped after Attorney General Hon. David Ballantyne, QC, informed the court in the presence of the jury that he would not be offering any further evidence against them.
After the Attorney General dropped the Crown's case, Chief Justice the Hon. Anthony Smellie, stated: "There can be no question but that that is the proper thing to have done."
As the jury was not present since November 5, 2002, the Chief Justice said he believed that they, like the rest of the public were entitled to know what the enquiry was about and what were the findings of the court in their absence.
He then availed them with copies of a 46-page ruling before instructing them to return a formal verdict of not guilty against each defendant on each of the six counts of the indictment.
Wednesday's dramatic twist to the case unfolded in ten minutes before a packed, hushed and expectant courtroom, which included Executive Council Members Mr. Linford Pierson, Mr. Roy Bodden, Dr. Frank McField, Mr. Gilbert McLean and several lawyers.
The Chief Justice said the outcome is not to be viewed "in entirely only as a technical matter".
He said: "I think it is owed to the defendants that the public are aware that so far as this court is concerned this (acquittal) represents the proper and fair verdict.
"I will not comment in terms of what
I might observe to be any order of merit but I say in particular
that from the
court's observation the case against Mr. Stewart and Mr. Cunha
in particular has been notable in the terms of the paucity of
evidence against them on this indictment."
The four former bankers were visibly and verbally elated and relieved after the trial which started in June 2002.
"I am obviously delighted with the outcome and I am also satisfied that justice has prevailed," Mr. Burges, a former Senior Assistant Manager at Euro Bank told Cayman Net News.
Mr. Stewart, Euro Bank's former chairman of the Board of Directors, expressed his sincerest gratitude and thanks to his friends, family who were supportive throughout the trial.
He singled out the Walkers Law Firm and lawyers Mr. Marcus Thompson and Mr. Michael Hill, QC, who he said were "superb" in the case.
"I am delighted that justice has been done and that I can again revert to a more normal life with my family."
Mr. Cunha, who was Euro Bank's general manager, told Cayman Net News: "I am very heartened and satisfied that this matter has come to its proper conclusion and I feel particularly vindicated by the Chief Justice's remarks when he observed that there was a paucity of evidence against me."
Ms. Donegan, who held the non-management post of trust officer at Euro Bank, said it was a long, frustrating and ordeal, but she is relieved.
"I am happy that justice has been done and that it been seen to be done. I have secured my passport and I am looking forward to going away.
"I however think that it is time that the Cayman Islands constitution includes some human rights provisions because these past three-and-a-half years have been, for me, like a prison sentence."
In his address to the jury, the Chief Justice said: "Since then in your absence I've been engaged upon an enquiry which was the latest in a number of interruptions during the course of this trial.
"Indeed, so many such breaks have there been that in effect you have spent much more time way from the jury box than you have spent in it.
"I can now observe that the long break since November 5th by itself would have been grounds for concerns about whether this trial could continue to be a fair trial.
"The result of the enquiry in the meantime has however proven to be conclusive of this trial. As the direct result of it, the prosecution in the person of the Attorney General has offered no further evidence against these defendants on this indictment."
The Chief Justice also ordered the release of the defendants' travel documents and discharged restraining orders against them where they existed.
Mr. Ballantyne then told the court that following consultation with defence counsel there are proposals on the table for dealing with the issues of costs and that he would be instructing prosecuting counsel to engage in those discussions.
If agreement is reached, the Attorney General said, they would come back to court to ask that an appropriate is made and in the event that they failed to reach agreement they would return to court.
He added: "The defence reserves their position in respect of all matters in relation to costs as does the Crown but with the willingness to agree on a satisfactory conclusion on the issue of costs without troubling Your Lordship unnecessarily."
The Chief Justice then said he welcomed that approach as it avoided the need for an enquiry and for a formal decision of the court.