The Cayman Islands Monetary Authority (CIMA) has reportedly issued a written order, addressed to all financial institutions on Grand Cayman, and throughout the jurisdiction, instructing them to decline to open any bank accounts for the Canadian victim of the Cayman Gang of Four, who filed a complaint with CIMA. The victim, a retired Canadian attorney, and Queen's Counsel, had asked that CIMA take action against the Cayman Gang of Four eight months ago, but to date there has been no regulatory or criminal action filed against the fraudsters,* who allegedly stole over $400m, from Canadian pensioners, who had placed their assets with a wealth adviser, who illegally, and without authorization, turned over control to the Cayman Gang of Four.
Cayman insiders insist the reason that CIMA has taken no action, is an illegal, and unethical, conflict of interest. CIMA Managing Director, Cindy Scotland, and her husband Mark, a Cayman Football executive, is closely linked to Gang ringleader Sharon Lexa Lamb, due to common recreational interests. So long as Ms. Scotland is MD at CIMA, there will not be any action taken against the Cayman Gang of Four, irrespective of any sworn duty to investigate, and prosecute, financial crime in the Cayman Islands.
It is reported that the reason CIMA has taken such extraordinary action, barring the victim from any further account relationship in the Cayman Islands, is to encourage the victim to abandon his claims, including the civil suit he is presently maintaining, against Lamb, as well as Dundee Merchant Bank, for breach of fiduciary duty, in Grand Court. Whether any legal or disciplinary action, against CIMA, and its leadership, resulting from the agency's failure to discharge its legal obligations to the victim, and others, either from the UK Foreign & Commonwealth Office or elsewhere in the UK, is not known.
|Sharon Lexa Lamb|
* The Cayman Gang of Four are:
(1) Ryan Bateman; a Canadian securities trader, he is a fugitive from justice in Grand Cayman.
(2) Sharon Lexa Lamb; former Senior Vice President at Dundee Merchant Bank.
(3) Derek Buntain; a Canadian national, formerly the president of Dundee Merchant Bank.
(4) Fernando Moto Mendes, a Portuguese national, the Managing Director of B & C Capital Ltd.