Generally Indorsed Writ of Summons in Bermuda Housing Corporation v. Correia Construction Company Ltd. at Bermuda Supreme Court.
Generally Indorsed Writ of Summons in Bermuda Housing Corporation v. Onsite Engineering Services Ltd. at Bermuda Supreme Court.
A new report on British Overseas Territories by the Foreign Affairs Committee of the United Kingdom Government has highlighted evidence of corruption in the Turks and Caicos Islands, Bermuda and Anguilla. By comparison, the British Virgin Islands and the Cayman Islands emerged relatively unscathed. The Committee has recommended that the UK Government sets up a Commission of Inquiry to investigate corruption in the TCI, encourages the Anguillan government to establish an "independent inquiry" to look into corruption, and details the steps it has taken to ensure that allegations of corruption in Bermuda are "properly investigated".
Bermuda took another step down the road from well-respected, relatively-clean, model democracy to internationally-ridiculed, corruption-ridden, banana republic when the office of Bermuda's Auditor General, Larry Dennis, was raided by police for the second time in five months on November 17, 2007; Two ex-clients of jailed former Panama-based offshore financial services provider Marc Harris escaped prison-time when they were sentenced for tax evasion-related offenses at the U. S. District Court for the Southern District of Florida on November 30, 2007; AM Costa Rica news service reported on November 9, 2007 that the Seccion de Fraudes of the Judicial Investigating Organization raided the offices of Trade Exchange SA, a.k.a. Tradex, on October 30 as part of an investigation into the activities of an expatriate financial consultant, Mark Emory Boswell, a.k.a. Rex Freeman, and his wife, Evelyn Reed; Three former employees of National Westminster Bank Plc - popularly known as the 'NatWest Three' - entered into plea agreements with the U. S. Government on November 28, 2007 in which they admitted their roles in defrauding their employer of $7.3 million in March, 2000 via transactions involving Enron Corp. and a legal vehicle in the Cayman Islands known as LJM Cayman LP Ironically, earlier in November, just before much of the British press were lauding the NatWest fraudsters, several British newspapers published the results of research by offshore banking provider NatWest International Personal Banking that indicated 1 in 10 British expatriates have been victims of banking fraud; and The manner of the collapse of Colorado's last remaining offshore bank, American Intercapital Depository and Trust, known as AIDT, which regulators recently closed down due to "hopeless" insolvency and their belief that the management was dishonest, casts doubt on the credibility of The Offshore Institute, a professional organization whose President, E. Jerry James, was AIDT's guiding force.
Bermuda took another step down the road from well-respected, relatively-clean, model democracy to internationally-ridiculed, corruption-ridden, banana republic when the office of Bermuda's Auditor General, Larry Dennis, was raided by police for the second time in five months on November 17, 2007.
Remarkable events are unfolding in Bermuda - home to the world's third largest insurance and reinsurance market - as the island's government seeks to cover up evidence of corruption against several senior politicians, including Premier Ewart Brown.
Bermuda, which portrays itself to the world as the ‘clean' face of offshore finance, much to the disdain of rival jurisdictions in the Caribbean, has been rocked by evidence of corruption involving several senior politicians, including Premier Ewart Brown. The evidence was contained in a two-and-half-years-old police report into an $8 million corruption scandal at Bermuda Housing Corporation — a government-funded quango set up to build affordable housing — that was leaked to the local Mid-Ocean News newspaper, which had first exposed the scam in 2002.
At the end of March, Bermuda convicted a man for his part in a $10 million government swindle. That fact, which is hardly earth-shattering, is surprising on several counts.The man convicted was employed by the Bermuda Housing Corporation (BHC), a government-funded, yet supposedly independent, body whose job, as best anyone can tell, is to collect rent and carry out repairs on houses owned by government. It might be responsible for housing those who cannot house themselves, but if so, it conspicuously fails to do that. In the past few years, it has evicted more people than it has helped.
No criminal investigation in Bermuda's history has ever taken as long or reached as far as the probe into criminal activity at the Bermuda Housing Corporation (BHC). Yet in the more than 18 months since the Auditor General concluded that significant crimes had been committed under the BHC umbrella, not a single charge has been laid — despite the fact that newspapers have published copies of documents that would convince even the keenest government supporter that something had gone seriously wrong with the use of public funds at the BHC.