Texas-based Canadian doctor Jacques Roy, who has been indicted in the U. S. for allegedly perpetrating a $374 million health care fraud, had accounts with at least three banks in the Cayman Islands - one using a false name, according to prosecutors.
Findings of Fact on Abuse of Process Application in The Queen v. Brian Cunha, Donald Stewart, Ivan Burges, and Judith Donegan at the Grand Court of the Cayman Islands, Criminal Side.
The liquidators of Euro Bank Corporation have paid a first dividend totaling US$70 million to creditors, representing 80 cents on the dollar to recognized claimants.Liquidators Michael Pilling and Ian Wight, of Deloitte & Touche, told creditors in a letter dated May 13, 2002 to expect a final return of at least 100 per cent of their respective claims.
Although much has been made overseas of a decision by the Grand Court of the Cayman Islands to approve a request to hand over the bank records of Euro Bank Corporation client Kenneth Taves to his US-based Receiver, there is nothing unusual about such a move. The foreign press has been lauding the deal as a break with tradition by Cayman after comments to that effect by Robb Evans, the Receiver for Kenneth Taves, his wife, Teresa; and their businesses J. K. Publications Inc., MJD Service Corp., TAL Services Inc. and their affiliates and subsidiaries.
Cayman Islands-based Euro Bank Corporation this month officially went into voluntary liquidation, as we revealed it would in the May edition of Offshore Alert. Additionally, two members of its management, Ivan Burges and Judi Donegan, were arrested by Cayman police but released without charge, according to sources.
Cayman-registered Euro Bank Corporation is to go into voluntary liquidation following a report into its affairs by Ian Wight and Michael Pilling, of Deloitte & Touche, OffshoreAlert can reveal. The accountants were appointed as controllers of the bank by the Cayman government on May 11 following concerns that it may be involved in illegal activities.