Kenneth Rijock

Kenneth Rijock

Tuesday, February 23, 2016

CAYMAN GANG OF FOUR MANAGING DIRECTOR FERNANDO MENDES HAD PROMINENT ROLE IN THEFT OF MILLIONS FROM INVESTORS


Fernando Moto Mendes, the current Managing Director of fugitive Ryan Bateman's group of companies*, has taken the position that he was only a minor player in the Cayman Gang of Four scandal, which involved the organized theft and diversion of over $400m in capital of Canadian retirees and pensioners. In truth and in fact, the documents uncovered thus far, controvert Mendes' public statements.

The receipts, for millions illegally diverted from Dundee Bank accounts, located in Butterfield Bank, in its Grand Cayman subsidiary, were all signed for by Mendes, in his capacity of Managing Director. Furthermore, Mendes' allegation that he was only the "office manager." have no basis in fact, and the evidence to date nowhere lists him as anything but MD. Funds of victims were delivered to him by Gang members Sharon Lexa Lamb and Derek Buntain, who were former Dundee officers.

Bateman, Lamb & Buntain
Mendes, whose "colorful" ( translation: fraudulent) past disqualifies him for any managing director position or title, has been allowed to remain at the Bateman Group, for several months, and the Cayman Islands Monetary Authority (CIMA), has failed to take any steps to remove him, or close up the Bateman Group, notwithstanding that CIMA has known about the massive fraud since August, 2015.



Some Caymanians are referring to CIMA's lack of response as regulatory malpractice, and wonder why  CIMA leadership has not been replaced by the government. At the very least, an internal investigation should be launched, to determine why CIMA has failed to respond to several fraud scandals that have roiled the Cayman Islands in recent years. In most cases, foreign investors never recovered their funds, and fraudsters, based in the Cayman Islands, were never prosecuted for either fraud or money laundering.
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* Bateman & Company Ltd.
   B & C Capital Ltd.
   Bateman Financial, Ltd.
   Note: Bateman formed companies, with the same exact name, save the suffix, in Panama, the Cayman Islands, and the UK, to facilitate illegal transfers of victim funds, to other jurisdictions.    
 

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