Ex bank employee jailed 2.5 years for $29k theft

| 25/06/2012

(CNS): A 28-year-old George Town man was jailed for two and half years Monday following his conviction for theft and fraud after he stole US$29,987 from a customer’s account at the Royal Bank of Canada, where he worked. Erick Adam was given an additional 12 months, to run concurrently, for false accounting after he forged the signature of the customer in order to clear out the account, and was ordered to pay a compensation order to the bank for the amount he stole. Adam was convicted after a jury trial in which he was accused of creating a fictitious couple, whom he attempted to blame for the crime.

The theft, which took place in September 2009, came to light when the  real account holders came to the bank and discovered their account had been emptied.

Justice Charles Quin, who presided over the case, said that there were more aggravating factors in the case than mitigating ones as Adam had been in a position of trust but had continued to deny responsibility for the crime even after his conviction. The account belonged to an elderly couple, and apart from the loss of the funds, the theft created extra expense for the bank dealing with the case and caused severe reputational damage.

The judge told Adam, who is the son of the Community Affairs Minister Mike Adam, that he had let his employers and work colleagues down, his family down and, above all, himself and his young family. He also pointed out that such crimes were particularly damaging in Cayman since the cornerstone of the country’s economy is its dependence on the banking industry.

However, the case also revealed that many of the procedures at the bank put in place to prevent this type of fraud were lax and were easily breached by Adam as he perpetrated the fraud on an account that had been inactive for many years.

The sentencing guidelines provided for a sentence of between 12 months to four years for a crime of this nature, and although Adam pleaded not guilty and therefore could expect no discount, it was his first dishonesty offence, and because he was relatively young when he committed the crime, the judge said he had revised hisinitial three year sentence down to 2.5 years.

He urged Adam to should put this dishonesty behind him when he is released and to focus on his young family.

See related story Former bank employee found guilty of 29k theft

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  1. Anonymous says:

    Glad to see the Judiciary have their priorities right.

    2.5 years for stealing money 4 years for killing someone….yeah seems about right

  2. Anonymous says:

    He did the crime he should do the time, no matter who his father is! That is the problem with cayman now. If you are family of certain high person in cayman the court deal with them different!!!

  3. Anonymous says:

    Clearly punishment has to be handed down for theft, I just wish it would also apply to those who attempt to embezzel millions, are caught, tried and found guilty , do not go to Jail, yet as social climbers  receive awards…



  4. Anonymous says:

    I know of a former bank employee who stole from the bank, got caught and fired, then left the island, went to college, got a degree and then obtained a mortgage from the same bank. Is this:

    A) you can turn your life around and be forgiven by the bank you rob

    B) only in Cayman

    C) SMDH


  5. Anonymous says:

    Shame on CNS for once again subjecting the Hounorable Minister Mr. Mike Adam to  further humiliation by publishing a story about his adult son whilst including his name as if he is somehow to be held accountable?  The essence of this is certainly political!!! Had he not held the position in Government that he holds today, no one would care to mention who this man's father is.  Cayman is one of the most disgusting societies- i have never seen a place more keen on casting judgement or shame on their own people! Yes, we are all to be held accountable for our actions but i am of the view that only those without sin should cast the first stone.



    • Anonymous says:

      get real..this is the same as anywhere else in the world….

      people can make up their own minds on who is responsible……

    • Anonymous says:

      that's like when that one person told that wealthy man mr. trump to stop harassing obama about his birth certificate or those darned paparazzi for harassing those poor royal folks across the pond… it's all a part of the game.

    • Caymanian 60+ says:

      I don't see anything wrong with the story.  The thief may be an adult son, but that doesn't leave the father without responsibility for his son's character.  Quite the opposite in fact. 

      What happened to "Train up a child in the way he should go; and when he is old he will not depart from it." [Proverbs 22:6]  

      In other words, start when the children are young, take notice of behavioural problems and deal with them firmly right away, pay attention to who his friends are, spend a lot of family time together, let the teachers do their job without interfering and always taking the child's side, get involved with your children in school, sports, the arts, Scouts or other wholesome extracurricular activities, teach the children the value of money through doing chores, teach them respect for others, especially for helpers in the home and extended family members, and travel with your children if possible to see other cultures and how they live.

      My children were born in Cayman, attended a Church-sponsored school to learn proper values, followed all of the above guidelines, and have turned out as honest, responsible, caring, happy, fun-loving and citizen-minded young adults of whom any parent would be proud.

      • anonymous says:

        Well, pat yourself on the back.God had indeed blessed you apparently….You and your kids seem perfect. I hope that you are able to keep any misfortune or mistakes from harming you or your children. At the end of the day, God will judge us all and deal accordingly. My God teaches kindness, forgiveness and compassion.

      • anonymous says:

        The Adams did the same.

      • Anonymous says:

        Caymanian 60+ 13.50 –  If I were you I wouldn't judge the parents as GOD says 'judge not lest ye be judged' who knows what your children may still do in the future or their children or some relative. I'm sure you don't know everything about this family so you can't go assuming things!  Adam was the first  father that GOD created and his son killed his brother so we are all sinners no matter how perfect some of us pretend to be – remember Jesus' words 'He that is without sin cast the first stone'. Hope others will learn a lesson and try to be honest at all times!!

  6. DisappointedCaymanian says:

    This happens oh so often. And none a dem seem like they learning from each otha!! Young people..dont do it..you WILL get caught..it might not be today, but you will. And worse this Erick one, get caught and still lying.

    It's such a disgrace to see that we cant work with money without trying to get greedy and have to steal..honest living makes us sleep at night na. Know this.

  7. Michel says:

    Dear Piffle,

    While I agree with you that it affects us all when someone steals specially in a position of trust. Now he and his family have to pay the price and I am certain that it will be a long road ahead. Since he has been convicted we must also realise that he has to work on his rehabilitation. We now need begin to pray for Erick and his family. As one who raised many children I can feel their pain. Again please understand that he did let a lot of people down, employers,family and friends and that alone will need some mending. God Bless, Michel Lemay

  8. Anonymous says:

    Concurrent sentences are not a valid penalty because they effectively let the criminal get away with the crime. 

    CNS. Did Justice Quin give any indication why he went for this option rather than make the sentences run consecutively? 


    • Anonymous says:

      It is practise that once crimes are committed at the same time as one incident the sentences are ran concurrently and not consecutivley.

  9. Anonymous says:

    Can anyone explain why they had to mention who Erik's father was?  I have never seen in any conviction written on that the parent's of the person is mentioned?  He is 28 years old he isn't a minor he is a grown man who made his own decisions.

    • Anonymous says:

      When you run for public office, and are sucessful, you open your world and that of your family to public scrutiny – regardless if warranted or not.  Mr. Mike Adam is an official elected by the public, and whilst it is unfortunate that his son chose to steal, it is to be expected that there would be much discussion, given the relationship between the two.  So it goes…

      • Lissa Adam says:

        I understand this comment. Whether these things are reported or not, we all live in a very small place, and as we know, everybody knows everybody's business. I take no issue with fair and accurate reporting of events. This has been difficult for our family, of course, as it is for any. I love ALL of my children with all of my heart, and have done and will do my best to support them through their trials and triumphs…So many parents and children have stood or will stand exactly where I am standing now. I am so grateful for the kindnesses shown me throughout this. I wiil continue to pray for all of our children, here and throughout the world, and for the families of children who are no longer with us.

  10. Piffle says:

    This happens too often in Cayman.  Higher sentences are needed.  The higher security measures needed by reason of dishonest little thieves like this man cost us all money.  Too many people in Cayman plead not guilty when they are guilty.  We need to fix sentences for dishonestly pleading not guilty at the highest end of the sentencing spectrum.  This man, if he can be called a man, went further than dishonestly pleading not guilty.  He concocted lie upon lie to hide his immorality.  Court time has been wasted by this little thief's desperate attempt to distor justice.  He should be rotting in jail for much longer. 

    • Youth says:

      I agree.  The shameful part of this story is that this particular youth comes from a very good family that offered him a world of opportunity.  His father and uncles are well known and well respected, he was offered every chance of a great career, he had huge footsteps to fill, but took the easy way out without hesitation or remorse.

      We have a huge  ENTITLEMENT ATTITUDE OF OUR YOUTH problem.

      This story needs to be told to every young Caymanian AND the laws need to be changed to be more harsh!!!  NO! you are NOT promised a job with the government, NO you are NOT promised a job as a lawyer, banker, accountant….you have to EARN this right.  NO EASY MONEY….  every child should hear this tale and be mindful that it not happen to them.  A fable of wealthly elite and crazy ideas: The young prince thought he was smarter than the bank, his youthful arrogance led him to belive this was okay……how sad and how wrong.

      This young man just assumed the money was easy and would not go missing.  HOW was he going to spend $29,000?  Honestly, HOW would he even DEPOSIT it without "source of funds" trail like we impose on all overseas transactions?  (We make it too easy for our in-country corruption to transfer funds to cronies and locals- CIMA wake up and start watching local transactions, you might just find this kind of fraud and stop the drug crime too!)

      Our youth need to be taught better values.  They have been spoiled and we are now seeing what our fast wealth has caused for the past two decades.

      Our elders should be ahsamed as well as the youth.