Cayman businessman embroiled in million $ case

| 13/10/2010

(CNS): A multi-million dollar trust company based in Turks & Caicos Islands is at the centre of a legal dispute there and in Jamaica, according to reports in the Turks & Caicos Sun. The case involves Delroy Howell (left), former owner of Cayman business Quik-Cash and its parent company, First Financial Caribbean Trust Company, which was formed by Howell, a Jamaican national, about ten years ago. Howell, who lives in the Cayman Islands, sold the firm in July but he claims that his former employee, Judith Wilchcombe, improperly acquired a number of shares in the company. Investigations by the Turks based publication, however, have revealed that the court case in the TCI is part of a much larger set of legal proceedings in Jamaica alleging financial wrong doing by Howell and one of his directors at FFCTC.

The Sun reports that there is more to the case involving Howell and First Financial Caribbean Trust Co. Ltd than the dispute with Wilchcombe in Turks.  “There was an audit of the Trust Company which showed that US$14 million was unaccounted for and that millions in US dollars were allegedly transferred to Delroy Howell personally and several companies which he controlled,” the Sun reports.  “Allegedly, when the beneficiaries of the trust company demanded payment of their funds, requests to Delroy Howell and his companies to account for the funds went unanswered.”

When it was discovered that the companies to which the trust funds had been transferred intended to sell all their assets in a transaction in Jamaica, the trust company filed a claim against Howell and the companies for the repayment of the funds.   The claim was filed on August 19 and on the same date the trust company was granted a worldwide freezing order against Howell and the other companies under his control. The trust company has already been successful in defeating the first challenge to its claim when the Jamaican courts dismissed applications by the defendants to strike out the claim against them and to discharge the freezing order.
The Jamaican courts are expected to decide whether to extend the freezing order until trial on 15 October. The Sun writes that it had obtained various documents in connection with the case including copies of the particulars of claim that sets out the formal claim against Howell and other defendants, a freezing order dated August 19, 2010, freezing the worldwide assets of Howell and other defendants.
In the particulars of claim that were filed in the Jamaica Supreme Court, the claimant was the company FFCTC  and the defendants were listed as Howell, Kenarthur Mitchell, First Financial Caribbean Jamaica Limited, First Financial International Group Limited, First Financial Caribbean Limited and First Financial Caribbean Holdings Limited. 
The documents reveal that Howell and Mitchell are accused of breaching their fiduciary duties to the company, breach of contract and that fraudulently, Howell and Mitchell transferred the Trust Funds to themselves and others including First Financial Jamaica, First Financial Group, First Financial Caribbean and First Financial Holdings.


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  1. Big Red says:

    What else is new????

    Seems like the Big Timers on this Island is sooooooo DESPERATE to invite all sorts of people here to live without knowing anything about them!!!



  2. Anonymous says:

    Could this be the beating of the butterfly’s wings that changes the air currents that creates the storm which turns into the catastrophe that brings down this government?

    Wings and many UDP hearts are fluttering! 

    • Anonymous says:

      "Wings and many UDP hearts are fluttering"! You are so right. It is no wonder that we have not heard from the big one on the radio for soooo long. His heart is fluttering for true!

      • Anonymous says:

         Ooooooh, the 2009 comment may still stand true today…..I pray for the UK to come in an govern us. 

        Re: Southern Health Network

        Mr. Adam, will you NOW step down from your role as VP of the Southern Health Networkwhich is one of Delroy Howell’s company?? Mind dont spoil a good thing now. We dont want the UK to come down & kick you and UDP party out as they did the premier in the T&C Islands Feb 2009. Your being watched "Buddie"!


    • Anonymous says:

      A respected PPM former Minister was in with Mr Howell too so it’s not just a UDP thing.

      • Anonymous says:

        I understand that former PPM minister was an investor who has lost all of his investment- surprise surprise!

        Politicians have so little sense! Not sure how we elect people who cannot manage their own affairs!

        • Rahamad says:

          wonder where he will find twenty five dollars to push in the hand of Bodden people  now to vote for him.

      • Undercover says:

        Former yes, respected  why?   undercoverer? yes. should  be summoned to answer, yes.

  3. Papa Doyle says:

    What happen to his other partners what was their role boy some people are always immune or invisble to scrutiny and are never the target of any "investigations" or probes. These political figures and visionaries are untouchables in our society. I guess being in the Lodge does not hurt either??? Cayman is really lost.

    • AnonymousG says:

      Lodge ??

      • Anonymous says:

        Masonic Lodge (or Temple) as it’s also called.  A secret society of …. who knows – made up of prominent people that protect thier own and look out for each other.  Very active "Lodge" in Cayman by the way.

        • Anonymous says:

          When you are a member you can’t go wrong amongst your fellow members

        • MasterMason says:

          Masonic Lodges can hardly be considered secret societies when they list their telephone number in the phone book, and as for protecting their own that is a bunch of hogwash.

          The only protection practiced is vigilance in trying to keep out the undeserving, although the success rate is not 100%.

          You might want to consider this statement from the Jamaica Gleaner:

          While Justice Brooks held that the issue of how Wilchcombe wrested the company from Howell was a matter for the courts in the Turks and Caicos Islands, he said that whoever was "in charge of the claimant was entitled, if not obliged, to institute the claim to at least have proper accounting of the use of the trust monies".

          Added Justice Brooks: "This arises, firstly, from the fact that the main issue raised by the claim is the misuse or, at least, the improper accounting for the use of trust monies and secondly, from ample prima facie evidence that those monies have been in the hands of Mr Howell, Mr Mitchell and at last two of the companies in the (First Financial) group."

          As a matter of interest (to those posting here and on this subject only) Justice Brooks is the Deputy District Grand Master of the District Lodge of Jamaica and the Cayman Islands under the United Grand Lodge of England.

          • Anonymous says:

            Freemasons like to say that they are not a secret society but a society with secrets. Indeed, in the 1st degree the candidate swears that he will forever conceal and never reveal the secrets of Masonry. Its secrets are intended to be understood only by the few at the top. Albert Pike "Morals and Dogma": "Masonry conceals its secrets from all except the Adepts (Highly skilled experts of Masonry), the Sages and the Elect; and uses false explanations for its symbols to mislead those deserving to be misled".Obviously listing their telephone number in the directory is entirely besides the point.

            Freemasons actively recruit men in positions of power and influence in politics, the media, the upper echelons of the police, the judiciary, business etc. It has been well-documented that in many cases this has served to pervert the course of justice in order to protect their own and to use corruption in order to advance their own. See e.g. Stephen Knight’s The Brotherhood, and Martin Short’s Inside the Brotherhood.   Masons swear "to obey without hesitation, any order whatsoever it may be, of Masonic superiors ... to assist a Companion- Royal Arch Mason when he is engaged in any difficulty, and to espouse his cause, so far as to extricate him from the same, WHETHER HE IS RIGHT OR WRONG".

      • Undercover says:

        Yes it is here and very active.

  4. 911 HELP says:

    Nothing happens before Mr TIME…..Every dog has his day and every cat his hour……

  5. Right ya so says:

    ….and they all come tumbling down – 99 bottles of beer on the wall, 98 bottles of beer on the wall, 97, 96……

  6. Danny says:

    Goodnight Hanna! Boy oh boy. Never learn eh.

  7. anonymous says:


  8. Anonymous says:

    Its interesting that since the U.K. took over TCI these things are being exposed.  

    • Anonymous says:

      The FCO knew about the systemic TCI corruption for decades, the FCO is central in the corruption problem.

      It was the UK House of Commons, Foreign Affairs Committee that kicked the corrupt FCO into doing something about the TCI corruption.  Now the FCO is holding up the corruption investigation.

      The UK House of Commons, Foreign Affairs Committee is now looking at the Cayman Islands corruption.  Corrupt elements in the UK and Cayman Islands government got rid of Mr. Bridger and Mr. Douguay but it will all come to light one day – it always does!

      Time Longer Dan Rope!

      • Tim Ridley says:

        The Cayman Anti Corruption Commission (ACC), chaired by the Police Commissioner, came into existence on 1st January 2010. It is mandated to investigate corruption. But so far there appears to be no actual office, staff or announced plans for the same.

        Cayman is now in an era when effective enforcement, not lip service to good governance, is the test by which we will be judged internationally. More black marks will follow if we do not meet this standard. And the Cayman community as a whole deserves an effective and independent ACC. So we need to see a fully operational ACC sooner rather than later.

        • In my experience, the only offshore financial center in the Bermuda-Caribbean region that takes regulation seriously is the British Virgin Islands, which has criminally prosecuted prominent locals for corruption, closed down suspect insurers and criminally prosecuted IPOC, which was a $1 billion money laundering scheme for Russia’s Telecommunications Minister. I’ve been very impressed with the BVI in this regard.

          Cayman is like Bermuda in that it thinks the mere passing of legislation is somehow an indication that it is serious about combating crime. The record of both jurisdictions in holding financial sector participants accountable for illegally activity is appalling.

          The situation is compounded by the general secrecy of their court systems and the absurdity of their libel laws, which deter news organizations from reporting what is really going on and protect reputations that don’t deserve to be protected. It’s very sad and, frankly, uncivilized.

          It seems like the entire system is set up to prevent people from knowing what is really going on.

      • Anonymous says:

        Mr. Bridger???? Surely you jest. The man was a complete disaster and waste of public funds. 

  9. ouch says:

    Isnt he a big time UDP member and advisor? I know he has been seen entering a stretch Hummer in Las Vegas with certain UPD Ministers on their way to gamble at the Casino. Is this the type of company our Government like to get cozy with ?



  10. In De Garden of Eden says:

    The whole world  knows about Delroy Howell and his dealings but it is sure funny not one single mention or peep about them shadow partners and directors I know he good but he did not do this by himself. I am sure his Political hands were not tied with these transactions. Our did he have a Doktor’s advice. Yes the usually Cayman someone always takes the rap I guess Mr Girvan is not the only fall guy around here these days.