They were just appointed last month, but Michael Pearson and Andrew Childe, who were the sole surviving directors of B & C Capital Ltd., the Cayman company accused of laundering millions of dollars looted, by the Cayman Gang of Four from Dundee Merchant Bank, have reportedly resigned, according to a reliable source in Grand Cayman. They were appointed after the Cayman Islands Monetary Authority cancelled the director registration of the fugitive stock trader, Ryan Bateman.
We have previously reported upon the two directors' appointment, and the potential liability that they may have incurred by accepting their posts. Readers can find that article, Company that Laundered Money for Cayman Gang of Four Appoints two Accountants as Directors, on this blog. Liquidation of the company has been ordered, although it is known to be insolvent, without assets, and with substantial debt. There are unconfirmed rumors that accounts located are virtually empty.