Financial Crime
OECD says new deal will end tax havens
(CNS Business): Tax havens will no longer exist in five years as a result of new rules aimed at combating tax abuse, the OECD has said. In the wake of the agreement signed last week by over 50 countries, including the Cayman Islands, Grace Perez-Navarro, from the Organisation for Economic Co-operation and Development (OECD), said […]
Convicted money launderers now whistleblowers
(CNS Business): Canadian investment advisor Eric St-Cyr, who was working from a Cayman Islands-based financial services firm, and Patrick Poulin, a Canadian attorney based in the Turks and Caicos Islands, were both sentenced Friday to serve 14 months in prison and three years of supervised release for conspiring to launder money. The two men are […]
Jail sentence for Cayman-based money launderer
(CNS Business): An investment advisor based in the Cayman Islands was sentenced by a federal court in Virginia Friday to 30 months in prison for his part in a $2 million money-laundering conspiracy, the DOJ and Internal Revenue Service (IRS) said. US citizen Joshua VanDyk (34) pleaded guilty on June 12, having been arrested in […]
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