Kenneth Rijock

Kenneth Rijock

Monday, February 8, 2016

GOVERNMENT IN BAHAMAS FREEZES MONEY STOLEN BY CAYMAN GANG OF FOUR


Reliable sources in the Bahamas reported yesterday that a Government agency there has frozen corporate bank accounts controlled by Cayman Gang of Four securities trader, Ryan Bateman. The companies named are Bahamas Exploration Limited, and Atlantic Petroleum Limited. Bateman's criminal past has recently been the topic of heated discussion in Nassau, in the Assembly; Opposition leaders have repeatedly questioned the advisability of the government working with an individual accused of being a known fugitive and fraudster,  who made a large payment for oil exploration rights, and received a license, under what are alleged to be suspicious circumstances, involving possible official corruption.

The stolen money, which was tracked by investigators, was transferred from the Cayman Islands corporation, Bateman & Company Limited, to the Bahamas. The amount frozen is not known; Cayman sources assert that more than $450m was taken, from the accounts of retired North American investors, Accused of the massive fraud are the Cayman Gang of Four, who are Sharon Lexa Lamb, Ryan Bateman, Derek Buntain, and Fernando Moto Mendes, all of who are known to have fled Grand Cayman.
Ryan Bateman
The Cayman Islands Monetary Authority, more commonly known as CIMA, has taken no action to investigate this scandal, believed to be one of the largest in the Cayman Islands in recent years. Some critics have accused it of gross negligence, and official malfeasance; others have speculated that the true reason for the agency's inaction is rooted in corruption.

Bateman, who claims a fifteen-year background in oil exploration, is a Cayman-based Canadian securities trader with a history of fraud in his native Alberta. He is believed to be in hiding in the Republic of Panama, where he and his brother own and operate an unlicensed wealth management company. He claims to have foreclosed on certain corporate exploration rights, which position is hotly contested by American investors, who assert his actions have no legal basis.

Bahamas Exploration Limited, which is incorporated in the Isle of Man, where Sharon Lexa Lamb comes from, was formerly known as Falkland Gold & Minerals, Limited, and appears to have had no successes, in the Falkland Islands, and Cuba, notwithstanding receiving a larger amount of investment capital. There are also reports that audits were not conducted or filed by the company.

Sharon Lamb
Bateman, and Lamb, appear to be in the center of a scheme to divert stolen investor money into a massive Caribbean oil exploration and drilling operation, including a joint venture with the Republic of Cuba, which has long sought to find productive oil wells in the region. Both Bateman and Lamb have a close relationship with Cuban officials, alleged to be from the intelligence services, and involved in the use of financial crime to raise capital for expensive oil drilling projects.





2 comments:

  1. There doesn't appear to be any company registered on the Isle of Man under the name Bahamas Exploration Limited, or its previous name of Falkland Gold & Minerals Limited. (source: https://services.gov.im/ded/services/companiesregistry/companysearch.iom)

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  2. The Isle of Man incorporation came from information released by the company. I see that BEL is really a Bahamian corporation.

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