Corruption in OFCs: How Big is The Problem & What Is Its Impact On International Business?
In the space of five days in December, 2012, two sitting or former Premiers of offshore jurisdictions in the Caribbean were arrested on suspicion of corruption, Michael Misick, of the Turks and Caicos Islands, and McKeeva Bush, of the Cayman Islands. In 2009, corruption was so out of control in the TCI that the United Kingdom suspended the local government and took direct control of its Overseas Territory. In the not-too-distant past, Bermuda had a leader who was considered to be openly corrupt, while the authorities in Antigua & Barbuda and Grenada assisted with frauds involving Allen Stanford and more than 40 offshore banks, respectively.
This session will look at corruption in Caribbean jurisdictions and how it affects international business that is conducted in them.
Edward Davis, Jr.
Founding Shareholder, Sequor Law (Miami)
Former Auditor General of the Cayman Islands (Canada)
Partner, Gaffney, Gallagher & Philip (Barbados)
Barrister, Matrix Chambers (London)