Archive for October 30th, 2011

Police hunt sexual predator

| 30/10/2011 | 63 Comments

(CNS): Updated — Police have now released a description of the man who sexually assaulted a 49-year-old woman on Saturday at around 10.30am and who may have attempted to abduct an 11-year-old girl earlier in the morning in the Red Bay area. The criminal investigation department is on the hunt for a man described as fair skinned, slim build, small slim face with a straight nose and around 5’ 6” in height. Police said the suspect was aged between 25 and 28 years. The suspect has tattoos on his arms that are dark blue-ish in colour, which appeared to be in the form of letters, and a tattoo on his neck. Officers have not yet named the suspect, who they say spoke with a Caymanian accent and was wearing a grey short sleevedT-shirt, light blue jeans and dark sneakers.

On Saturday morning the female rape victim was reportedly forced into a Red Honda hatchback vehicle and taken to a location on Admiral's Landing, where she was assaulted. CID are still carrying out investigations with the victim. Police have since recovered the vehicle and said efforts are being made to locate the male suspect, who, it is understood, is known to the authorities.

After the first report came in to the police another report was made of the same vehicle approaching a young female in the same area earlier on Saturday, and this is also being investigated.

Meanwhile, officers are also investigating a stabbing which took place around 10.30pm on Friday night during a fight between two men in the vicinity of the Marquee Plaza on Lawrence Boulevard, George Town. During the fight one of the men was stabbed twice with a knife. The victim then ran towards West Bay Road. Police attended the scene but the suspect had already fled.

Contact was made with the victim, a 24-year-old male who was subsequently taken to George Town Hospital with non-life threatening injuries. Road blocks and the police helicopter were utilized to try and capture the suspect, but to no avail. During the processing of the scene police recovered a knife and officers are continuing investigations, including the examination of CCTV

Anyone who has any information on the sexual assault is asked to contact Detective Constable McQuade at George Town CID 949-4222.

Anyone who has any information on the stabbing contact Detective Constable Berns also on 949 4222. The public can also call crime Stoppers 800-8477 (TIPS). Police reminded the public to always call 911 in an emergency.

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CIMA reports 12% increase in value of captives

| 30/10/2011 | 4 Comments

(CNS): According to the third quarter figures from the Cayman Islands Monetary Authority (CIMA) the local captive insurance sector continues to do well despite the soft global conditions in the insurance market in general. CIMA licensed 29 captive insurance companies in the first nine months of 2011, 14 more than during the same period in 2010. The total number of captives in the jurisdiction at 30 September 2011 stood at 730. Total premiums as at 30 September were reported at US$9.6 billion a 12 percent increase on December last year when premiums were valued at US$8.6 billion and the highest recorded in CIMA’s history.

Total assets, as of 30 September this year were reported at US$58.3 billion, compared to US$57.9 billion as at 31 December 2010, the authority revealed.

CIMA’s Managing Director, Mrs. Cindy Scotland said the increase in captive formations and the size of the premiums indicated the health of local captive industry, despite the international market.
“In all of 2010 there were 25 new captives formed, so for our 2011 numbers to already be at 29, and with new applications pending, we anticipate this calendar year to reflect significant growth in new captives,” she added.

The total number of captives at 30 September is only one more than the 729 recorded at the same time last year and there are also eight less than the 738 active at the end of last year but the total number has still increased steadily throughout this year.

Officials explained the decrease was due to licence termination of companies in liquidation since 2009 and 2010 but not dissolved until 2011, and to special purpose vehicles completing their one-year policy cycle. So on 31 March there were 720 captives in Cayman which grew to 725 at 30 June, before reaching 730 last month.

A captive is an insurance company formed and owned by an entity or group of entities for the purpose of covering the risks of that entity or group. The Cayman Islands has continued as the leading jurisdiction for health care captives. As at September 2011, health care was the primary line of business for 256 companies (35%). Workers’ compensation remained the second largest line of business with 157 companies (22%) providing this as their primary type of risk insured.

The 730 class B (i.e., captive) licensees active as at 30 September comprise the following: 418 pure captives (57%), 120 segregated portfolio companies (16%), 75 group captives (10%), 51 association captives (7%), 34 special purpose vehicles (5%), 31 open market insurers (4%) and one rent-a-captive. The 120 segregated portfolio companies comprise a total of 634 active segregated portfolios.

The Cayman Islands captive insurance industry is composed mainly of companies insuring risks in North America. Premiums originating from North America accounted for 84% of the Cayman market, followed by Europe at 3%, Caribbean and Latin Americaat 2%, and the remaining global market at 11%.

In terms of captive numbers, North America accounts for 90% of the Cayman market, followed by Caribbean and Latin America at 3%, Europe at 2%, and the remaining global market is 5% the authority stated in a release Friday.
 

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Goldman faces suit over sale of risky debt

| 30/10/2011 | 0 Comments

(Reuters): Goldman Sachs Group Inc has been hit with a new $1.07 billion lawsuit for having allegedly sold risky debt that it expected would tumble in value to an Australian hedge fund, causing that fund to become insolvent. The lawsuit by the Basis Yield Alpha Fund alleges fraud, breach of contract and negligence, and seeks to recoup $67 million of losses plus $1 billion of punitive damages. It was filed on Thursday with a New York state court in Manhattan. Basis Yield was managed by Sydney-based Basis Capital Funds Management Ltd.

Basis Yield sued three months after a U.S. judge dismissed a similar case, saying the fund could not sue in federal court under U.S. securities laws because its investment in the Timberwolf 2007-1 collateralized debt obligation did not qualify as a "domestic" transaction.

Timberwolf was cited in a scathing U.S. Senate panel report in April that faulted Goldman, Deutsche Bank AG and others for hawking debt they expected to perform poorly.

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Sri Lanka demands CHEC redo cracked road

| 30/10/2011 | 0 Comments

(Sunday Leader): The Sri Lanka government has faulted the Chinese contractor of the Southern Expressway for the poor carpeting of the highway and has ordered an immediate recarpeting before its opening scheduled to coincide with President Mahinda Rajapaksa’s birthday. The contractor, China Harbour Engineering Company (CHEC) has agreed to reconstruct the carpeting at its expense after the government claimed it would not accept the highway if it was not up to standard. Deputy Highways Minister Nirmala Kothalawala told The Sunday Leader that the carpeting on certain parts of the road on a 6-7 kilometer stretch has not been properly laid.

Kothalawala explained that cracks begin to appear when the carpeting is not done properly. He said that once the highway was completed, a thorough test was carried out to test the road, the bridges and the culverts.

“It was then that we found that certain areas on a 6-7 kilometer stretch had not been carpeted properly,” he added. Kothalawala said the government had immediately informed the Chinese contractor that the highway would not be accepted if it was not up to standard.  “The contractor agreed and they got down a special machine for the recarpeting. The work is now being completed,” the Minister said.

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Chines take ancient health skills to Jamaica

| 30/10/2011 | 0 Comments

(CNS): Chinese medics will be demonstrating their ancient and traditional medical skills such as acupuncture and cupping as well as providing modern health care to Jamaicans, the Chinese embassy in Kingston has said. The Chinese People's Liberation Army’s navy hospital ship the Ark Peace landed in Jamaica on Saturday October 29 and 100 health professionals will offer volunteer medical service to Jamaican people both aboard and at the Olympic Garden Health during its five day stay. “Over 100 Jamaican patients will benefit from using on-board CAT, ultrasound facilities which are rarely functioning in Jamaica,” said the Chinese officials.

This is the second stop of the hospital ship’s 100-day voyage across the Pacific and around the Caribbean on ‘Mission Harmony’.  The 14300-ton and 178-meter-long ship carries aboard a state-of-the-art 300-bed hospital that can be deployed for wartime evacuation, medical support for warships, international humanitarian mission and disaster relief, Chinese officials claimed in a release from its Jamaican Embassy.

The Ship was launched three years ago but is making only its second trip abroad after treating 15,500 people last year on a voyage to the Gulf of Aden and five African and Asian countries.

During its visit to Jamaica Chinese health professionals and their Jamaican colleagues will have opportunities to visit each others hospitals (on-board) and conduct medical exchange at seminars, while Chinese Navy football and basketball teams will play with JDF teams.
A spokesman from Chinese Embassy said the visit would add a new dimension to China-Jamaica relationship that has seen rapid development in recent years.

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Jeweller faces massive fine under CITES laws

| 30/10/2011 | 2 Comments

(St.Thomas Source): A manufacturer of high-end jewellery, art, and sculpture has been sentenced in the US to penalties of more than $4million for knowingly trading in falsely-labelled, protected black coral.  The firm violated the Endangered Species Act and the Lacey Act, which make it a felony to falsely label wildlife intended for international commerce. The Endangered Species Act is the US domestic law that implements the Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES).  On July 15, GEM Manufacturing LLC, headquartered in St. Thomas, pleaded guilty to seven counts of violations of both the Endangered Species Act and the Lacey Act.

The St. Thomas company was sentenced to pay acriminal fine of $1.8 million, which will be apportioned between the Lacey Act Reward Fund and the National Oceanic and Atmospheric Administration Asset Forfeiture Fund.

GEM was sentenced to pay an additional $500,000 in community service payments for projects to study and protect black coral, and ordered to forfeit dozens of jewellery items, 10 artistic sculptures and nearly 7 tons of raw black coral. The total value of the forfeited goods exceeds $2.17 million, according to the Justice Department, bringing the aggregate financial penalty to $4.47 million.

That makes it the largest penalty for the illegal trade in coral, the largest non-seafood wildlife trafficking financial penalty and the fourth largest for any U.S. case involving the illegal trade of wildlife, according to the release from the Justice Department.

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Uncle Clem’s robbed again

| 30/10/2011 | 8 Comments

(CNS): A local grocery store on Mary Street in George Town was robbed on Saturday night for the second time in two months. Police said that at around 7:30 yesterday evening (29 October) two masked men entered Uncle Clem’s Store and threatened staff. One of the men was holding what appeared to be a firearm but staff confronted the suspects, who both then ran out of the store stealing a bag containing coins. One of the robbers is described as around 6 feet tall, slim build with dark complexion and the second as around 5 feet 4 inches in height, with a stocky build and a light complexion.  (Photo Dennie Warren Jr)

Both of the suspects had their faces covered with black shirts and were wearing gloves, and after fleeing from the shop they ran in the direction of School House Road. Police stated that the suspects had not been apprehended, despite a search of the area, but officers from the CID are continuing investigations and viewing relevant CCTVfootage.   An RCIPS spokesperson also said that the report of the crime was delayed due to witnesses not co-operating with the police.

No one was injured during the crime and on this occasion no shots were fired. When Uncle Clem’s was held up by an armed man in August, the masked gunman entered the shop just before closing and fired a shot into the ceiling before grabbing the cash bag from the register. On that occasion police arrested a 52-year-old man on suspicion of robbery in the wake of the crime but no charges were brought.

Anyone who has any information on this latest robbery is asked to contact Detective Constable Bowen at George Town CID 949 4222 or Crime Stoppers 800-8477 (TIPS.

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Vacancy at family services as boss retires

| 30/10/2011 | 39 Comments

(CNS): After some seventeen years as head of the children and family services department Deanna Look Loy has retired. According to a release from GIS the thirty three year veteran of the civil service stepped down on 2 September as a result of reaching the service’s compulsory retirement age. Officials said that an open recruitment process will begin shortly to find a successor to Look Loy who was described as .a “stalwart” by the community affairs minister Mike Adam.  “She was fearless, dedicated and faced many challenges with her trademark enthusiasm and exuberance,” he said. 

“There is no doubt that she has made an indelible mark on the social fabric of the Cayman Islands and many of our lives. She will be missed and we wish her all the very best,” he added.

During her career with the department Look Loy has faced some unique challenges. Soon after taking up the director’s post in 1994 she had to deal with the 1,200 Cuban refugees housed at “Tent City” in the Fairbanks area. Her knowledge of the Spanish language and culture served her well during that national crisis. In the aftermath of Hurricane Ivan Look Loy was awarded the Cayman Islands Certificate and Badge of Honour in 2005 for her work in the community and civil service.

Government officials said that throughout her 17 years with the department she spearheaded the development and implementation of several initiatives including the 1996 Study of the Family in the Caymanian Society.

Data gathered during that study went on to inform the development of various programmes including the establishment of Community Development Services, the National Parenting Programme and a probation and aftercare programme for adult offenders.

She also worked on the implementation of procedures for the management of child abuse referrals and investigations, the Children’s Law and Regulations, the Adoption Law and the Youth Justice Law.  Look Loy also established the Community Development Unit and oversaw research aimed at identifying the needs of older persons within the Cayman Islands.

Having started her civil service career as a Spanish teacher at the Cayman Islands High School in 1975 after earning a degree in Spanish and history from the University of the West Indies (UWI), Jamaica she went on to pursue a diploma in education. 

She then worked at the Ministry of Education in Trinidad & Tobago before returning to Grand Cayman where she took the position as Spanish department head at the Cayman Islands Middle School which later became George Hicks.  By the late eighties she had been appointed as assistant secretary with the Ministry of Health, Education & Social Services, where she assisted with the implementation of Caribbean Examination Council (CXC) exams and served as the secretary for the Education Council before becoming the director at DCFS.

 

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Business leaders wanted to guide next generation

| 30/10/2011 | 4 Comments

(CNS):Local business leaders are being asked to step up and volunteer as mentors in the Chamber of Commerce’s mentoring programme for the upcoming academic year. The programme needs Fifty mentors and people from all industry sectors are encouraged to submit an application to take part in the youth development initiative organized by the Chamber in partnership with government. Launched in 2002,Mentoring Cayman has assisted more than 300 high school students to become the next generation of business and community leaders.

“Few bonds in life are more influential than those between a young person and an adult,” said Wil Pineau, CCE, CEO of the Chamber. “Mentoring helps because it guarantees a young person that there is someone who cares about them. Mentors provide their mentees with an experienced friend who is there to help in any number of situations.”

The goals of the Mentoring Cayman programme are to motivate students to achieve higher results in school, as well as introduce students to potential new career paths. It also encourages students to seek post-secondary education and helps students develop into competent and confident individuals.

The programme aims to develop a positive work ethic and raise awareness of mentoring and involves the volunteer mentors taking their charge on one workplace visit each month for seven months.

The official launch of the programme which is under the patronage of the governor Duncan Taylor CBE, will take place on Thursday, 24 November when students meet their mentors for the first time at the opening reception.The first workplace visit scheduled for December.

Mentoring Cayman applications are available for download at www.caymanchamber.ky  Companies or persons interested in being part of, donating to, or sponsoring the Mentoring Cayman programmme should contact Leanna Jarvis at the Chamber of Commerce on leanna.jarvis@caymanchamber.ky or call 949 8090 (ext. 121).

 

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