Law firm says it will ‘aggressively’ pursue fraud case

| 01/03/2013

(CNS): Local legal firm Solomon Harris has confirmed that “an irregularity” was identified in its accounts during its standard financial reporting procedures. Police confirmed Wednesday that a 57-year-old man had been arrested earlier that morning in an operation connected to a white collar fraud. The local firm based in George Town said Friday that the suspect was their former employee Michael Levitt, as it reassured clients that none of them were impacted in what was an “internal issue only”.  However, the firm said it would be aggressively pursuing the fraud that appears to have been perpetrated against it.

Levitt, who is a former president of Rotary Sunrise, was the money laundering reporting officer and compliance officer for both Solomon Harris and Solaris Corporate Services Ltd, a corporate service arm of the law firm.

He was arrested on suspicion of fraud related offences, which other sources claim involves tens of thousands of dollars, and released on police bail after being interviewed. An RCIPS spokesperson confirmed the investigation but he has not been charged with any crime.

In the wake of his arrest, the firm said the irregularities appear to have been at the hand of its former employee. “We want to assure our clients that no clients have been impacted and that this is an internal issue only,” Managing Partner Sophia Harris said. “Solomon Harris had its strongest ever financial performance last year and this matter in no way affects the firm’s ongoing growth.”

The relevant accounting records have been presented to the Royal Cayman Islands Police Service (RCIPS), which is now investigating the matter, she added.

Pending the result of the RCIPS investigation, Solomon Harris is prevented from discussing the situation, Harris said but noted that the firm intends "to pursue this matter aggressively to the fullest extent of the law."

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Category: Crime

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