Jail sentence for Cayman-based money launderer

(CNS Business): An investment advisor based in the Cayman Islands was sentenced by a federal court in Virginia Friday to 30 months in prison for his part in a $2 million money-laundering conspiracy. US citizen Joshua VanDyk (34) pleaded guilty on June 12, having been arrested in March this year. Also arrested were Eric St-Cyr (50), a Canadian working with VanDyk in Cayman, and Patrick Poulin (41), a Canadian attorney working in Turks and Caicos. They have both pleaded guilty and are due for sentencing on 3 October. The three men assisted undercover US agents posing as clients in laundering purported criminal proceeds through an offshore structure designed to conceal the true identity of the proceeds’ owners. Read more on CNS Business