Report: OTs vulnerable to fraud
The news seemed untimely. The day a Virgin Islands court confiscated more that $45 million from a Bermuda-based fund convicted of fraud-related charges, a report was published concluding that British overseas territories lack proper regulation in the financial services industry, making them vulnerable to fraud and money laundering.
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IPOC’s $45 million confiscated
In one of the largest fines ever to be handed down in a common law jurisdiction, ore than $45 million dollars of the Bermuda-based IPOC International Growth Fund’s British Virgin Islands holdings were confiscated after a lawyer representing the fund plead guilty April 30 to perverting the court of justice and furnishing false information.
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Would-be Smugglers developer pulls out
After two years of planning and more than $1 million spent in environmental studies, public meetings, and architectural renderings, project managers withdrew from a $60 million investment deal to develop Smugglers Cove.
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‘Beans’ tells Rotary of Haiti school
“The other members of the search group left in the name of getting aid. They would be back in two weeks, they said, but they never came back,” Michael “Beans” Gardener, an entertainer at Marina Cay, explained to the members of the Rotary Club of Tortola last Thursday. Mr. Gardener then related his experiences on the small Haitian island of Ile La Vache.
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‘Mental patients’ remanded to prison
Four “mental patients” appeared Friday before Senior Magistrate Valerie Stephens, charged with: Causing grievous bodily harm; destroying property in public; damaging property; assault on a member of the public; and possession of crack cocaine and cannabis, according to police prosecutors.
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’06 Bobby’s robbery trial underway
The robbery trial against Andrew Milton and George O’Connor stumbled to a start Tuesday morning, after very nearly being derailed when Mr. Milton appeared in High Court without his lawyer.
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Stamp inquiry delay draws fire in HOA
This week marks one year since Governor David Pearey announced that a commission of inquiry would investigate apparent cases of stamp duty avoidance. The commission is still to be named, and now Julian Fraser, minister of communications and works, has accused Governor Pearey of “finding all excuses” to avoid it.
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Back in the day (VIDEO)
“Imagine: One pound of fish for 25 cents, and that was in my time,”Gracia Stevens, the principal of the Robinson O’Neal Memorial Primary School, said, speaking of the days when she was growing up in Virgin Gorda.
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Ex NAGICO worker charged with theft
Police have arrested and charged one of the two young men allegedly responsible for snatching a bank deposit bag from two employees of NAGICO Insurance Company, in what police have described as a “bright-daylight robbery” on April 28.
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Sandy Cay handed over
Residents of Jost Van Dyke, government officials and friends of the late Laurance Rockefeller, former owner of Sandy Cay, were present at the J. R. O’Neal Botanic Gardens on Thursday to witness the official transfer of Sandy Cay to the government of the Virgin Islands.
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Establishment Survey begins
“The British Virgin Islands is part of an increasingly open, globalised, and uncertain world environment,” Premier Ralph O’Neal said during a press conference held on Monday to officially launch a survey that he said will involve polling more than 1400 VI businesses.
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