Justice was served in Girvan case, say finance cops
(CNS): The financial crime’s unit of the RCIPS said on Tuesday that they were very pleased with the sentence handed down to Robert Christopher Girvan the fund manager who stole almost $19million in a complex financial fraud relating to four local hedge funds. The FCU had spent some 18 months on the case and the officer in charge of the investigation described it as a complicated and protracted enquiry. “The hard work and dedication of everyone involved in the investigation was rewarded with the sentence given by the courts,” said Detective Constable Richard Clarke (left). “We are absolutely delighted that such a substantial sentence and confiscation order was imposed.
The courts seized more than $4.4million in a confiscation order under the Proceeds of Crime Act and Justice Alex Henderson sentenced Girvan to eight years in jail for his crimes.
“It sends out a clear message to those who see financial crime as quick route to easy cash that the penalties are severe. You risk facing several years behind bars and losing all of the cash and assets you accumulated as a result of your criminal activity,” Clarke added. “Tuesday was a good day for the Cayman Islands justice system. We hope that the many victims who lost money because of the crimes committed by this man will also feel that justice has been served.”
Girvan had pleaded guilty to 22 counts of the original 27 made against him of theft, fraud and money laundering. It is understood that civil proceedings regarding the payment to creditors in the four Grand Island Funds which Girvan was managing are continuing and it is unclear exactly how much investors will eventually be repaid.
Category: Local News
yes he should go to jail-however-what about the others,that stole also-get them to pay back and also to go to jail,yes take away everything they all have and sell it and pay back the people they stole from-but-what-only the jamaican gets to go to jail ?.the others are caymanian big shots ?.
Good job Richie!
Go Richie Good work buddy!
I suppose "Justice" was served to a certain extent, but in the end if you only get about (0.20 – 0.30 cents) twenty to thirty cents on the dollar that you lost to this thief, it’s not that comforting when you try to sleep at night. However, this is not the fault of the FCU. I’m sure that the investigation officer did a thorough investigation and tried to recover as much of the stolen money that he could including the assets that were purchased by this crook, with Naul Bodden and other investors money.
If we all can learn anything from the saga is, "DON’T TRUST ANYONE FULLY TODAY IN ANYTHING, INCLUDING YOUR MONEY" Be involved and make sound decisions in regards to your money/assets, don’t leave it to anyone to do it for you, or else you will likely get screwed over BIG TIME as happened in this case !!!
Fine to get money back from Girvan but just who was minding the store . I thought Cayman were experts in the field of KYC [know your crook]. Why did not the directors, fund administrators and investment advisors not cough up? More under the carpet stuff.