Cayman resident in fraud case
(CNS):The owner of the house in Old Prospect Rd which was due to be auctioned without a reserve price has pleaded guilty to conspiracy to commit fraud and money laundering. According to the New York Post, prosecutors say Cayman resident Myron Gushlak was involved a $90 million fraud linked to a financier and television show host considered to be Germany’s Jim Cramer. The judge said the men ripped off investors in a “pump and dump scheme” but many details of the case still remain secret. The auction of Gushlak’s home, set for 3 November, attracted considerable media attention. However it was cancelled at the last minute reportedly because of low interest but the agents have not officially given a reason.
News of Gushlak’s, guilty plea to conspiracy to commit securities fraud and conspiracy to launder money charges emerged Wednesday during a hearing in Brooklyn federal court. Because he has been cooperating with federal and state investigators, along with regulators at the Securities and Exchange Commission, information about his guilty pleas had been kept under seal by judicial order and much of the case is still secret.
According to Gushlak’s websites he relocated from Canada to the Cayman Islands in 2000 and is the managing director of Bluewater Partners, a small Cayman based merchant bank.
Category: Business
Yes another one of those "Red Carpet" investors of Our Grand premier wants to attract. "Heres Johnny"Yes Cayman Is the Red bullseye for these European Tax Maniacs and being use as floor carpet by the so called investors and their financial advisors working here. What Mamma say bite you Ouch! XXXX Its downhill from here on Cayman more Crime & violence the fleecing of Cayman continues unabated.
WTF!!! I withdrew a $100 bucks today in anticipation of the auction – no minimum bid! who is going to pay me for my interest lost? Damn you Gushlak!!!! Damn you!!!
More crooks using Cayman as a hideout. House not so glamorous now, eh?
Even more glamourous now actually…
http://www.nydailynews.com/news/ny_crime/2010/11/18/2010-11-18_investment_banker_myron_gushlak_backs_out_of_pledge_to_give_feds_info_on_gambino.html
Here goes the negative publicity again.
It really disgusts me when I read these stories…money cannot buy you everything though!!
They come in here with their money (dirty at that) buy and pay whatever it costs and get to stay in the Cayman Islands.
Why do these people come to our Islands? Do they think that they can get away and continue to do whatever they want to do and never get caught?
Fingerprinting/proper due diligence checks (dig as deep as you need to, you never know what will be found) needs to come into force now and all those that bought their way in here should also have to go through this process.
Another black eye for us in Cayman.
Making Spirit River Alberta proud. Thanks Gushlak.
and continuing to give Cayman a bad name
It’s the FBI agents, not the real estate agents, who know why the auction was cancelled.