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UK Gov't Supports AG

The United Kingdom (UK) has thrown its full support behind Attorney General Mr. David Ballantyne while "expressing concern" at the collapse of the Euro Bank trial and the subsequent press and political reaction.

UK's Overseas Territories Minister, Baroness Valerie Amos, Leader of Government Business,
Hon. McKeeva Bush

In a press statement issued through the Foreign and Commonwealth Office (FCO), The UK's Overseas Territories Minister, Baroness Valerie Amos said: "We have every confidence in the professionalism and integrity of the Attorney General, Mr. David Ballantyne, who did all he could to ensure that the trial could be conducted fairly.

"He has served the Government and people of the Cayman Islands well and should continue to command their trust."

Ms. Amos added: "We also think that care should be taken before publicly criticising members of the Financial Reporting Unit (FRU), whose efforts were instrumental in this serious case being brought to trial in the first place."

Baroness Amos said the British Government has watched with "increasing concern" the political and press reaction in the Cayman Islands to the collapse of the Euro Bank trial.

She continued: "We have an international duty to deploy all the resources at our disposal in the global fight against financial and other crime.

"This will, of course, include our intelligence agencies. The very nature of this sensitive work means that it cannot be publicised and that appropriate safeguards must be in place to protect the integrity of operations and the safety of the individuals involved."

Ms. Amos said the Euro Bank case was brought to trial on the basis of serious money laundering charges. She said the trial collapsed amidst concerns about the handling rather than the strength of the evidence being presented.

"It is quite untrue to suggest, as some have done, that UK agencies have been operating in the Cayman Islands with the intention of interfering with, and causing damage to, its finance industry," she said.

"Our mutual aim, with the Cayman Islands authorities, has been to take firm action against money-laundering and other financial crime. This is an objective which all in Cayman should support. To do otherwise would risk damaging the Cayman Islands' reputation as a well-regulated and reputable financial centre."

She said it is important to Cayman to maintain the confidence of international groups such as the Financial Action Task Force and the International Monetary Fund in the integrity of its financial services.

"We believe that the decision by the Cayman Islands authorities to bring this prosecution, based on the evidence, was rightWe will continue to work with the Cayman Island authorities to tackle money laundering and financial crime."

The four defendants in the Euro Bank money laundering, Mr. Donald Stewart, Mr. Brian Cunha, Mr. Ivan Burges and Ms. Judith Donegan, were acquitted by Chief Justice the Hon. Anthony Smellie on January 14, after the Attorney General offered no further evidence against them.

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