Bank fraud suspect arrested on return to Cayman

| 07/05/2013

3625653.jpg(CNS): A woman who was wanted by police for questioning in connection with an alleged bank fraud in Grand Cayman last year was arrested on her return to Cayman last month, the police have confirmed. An RCIPS spokesperson said that a 45-year-old woman was arrested on 29 April on suspicion of theft and has been released on police bail until late May. Officers from the Financial Crimes Unit announced last October that they were conducting an investigation into the alleged misappropriation of mortgage commitment fees from the Scotia Bank and Trust Cayman Limited that directly affected a number of police officers.

In a message from the FCU to police and civilian staff, the FCU reveals that as the investigation progressed into “complexities of this internal bank fraud”, investigators found that many of the potential victims of this fraud were police officers.

The internal circular said the police were looking for Ilsa Archibold, who had left the jurisdiction. At the time that the investigation was revealed the bank said it was taking the situation very seriously but preliminary assessments had indicated that no Scotiabank mortgages were affected by the incident.

“We have notified the police and are working cooperatively with them during their investigation. We hold employees to extremely high standards and do not tolerate any actions that do not meet those standards – at the hint of wrongdoing we take swift and decisive action,” the bank said last October.

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Category: Crime

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