Naul Bodden over-extends his CPA status...
Prominent Caymanian businessman Naul Bodden is linked with at least one of the four Cayman–domiciled entities, which are called Grand Island Commodity Trading Fund I; Grand Island Commodity Trading Fund II; Grand Island Income Fund; and Grand Island Master Fund. The first three entities are all registered by CIMA, while the last one is unregulated.
CIMA issued a statement on the matter after meeting with Joint Voluntary Liquidators David Walker and Nick Freeland of PricewaterhouseCoopers this week.
The JVLs were appointed by the shareholders after an extraordinary general meeting on 17 June following the discovery of trading irregularities, CIMA said in its statement.
Contacted on 13 June, Mr. Bodden said CIMA had already been made aware of the situation. He also confirmed the extraordinary general meeting would take place when it did. However, Mr. Bodden said he did not want to make any further comment before speaking to his attorney at Appleby.
Efforts to get further comment from Mr. Bodden have been unsuccessful.
Mr. Bodden’s exact involvement in the funds is not clear at this time. However, in his biography posted on the website of the non–profit organisation Generation Now – of which he is patron – Mr. Bodden is stated to be the “Investment Advisor and founder of Grand Islands Commodities Trading Fund”. The website also says Mr. Bodden is the shareholder and director of a number of companies and manages in excess of $100 million of diversified assets.
Naul Bodden also an investment advisor on the Cayman Island Real Estate Fund so one might want to think twice about putting their money with someone who is really only a CPA, and not classical trained in business finance.
Friday, June 27, 2008
Friday, June 6, 2008
Cayman's Second Murder Within Four Days
May 20, 2008
"Paradise" is the island's moniker. Not so anymore. A Canadian Man was found murdered Tuesday, and a Caymanian man found dead on Saturday. Bringing the total to 5 homicides in Cayman this year.
Starting with the most recent murder: An autopsy has confirmed that a former Saskatchewan man found dead in his seaside rental home in the Cayman Islands was the victim of murder. The Royal Cayman Islands Police Service said Thursday that Martin Joseph Gareau, 47, suffered multiple injuries to his head and body caused by sharp and blunt objects.
"The post-mortem shows that Mr. Gareau suffered very serious injuries, which could only be caused by another person or persons," said Det. Insp. Kim Evans. Gareau, a former resident of Prince Albert, Saskatchewan (Canada) who had been living in the Cayman Islands for the last four years, was last heard from in the city of Bodden Town on Sunday. His body was discovered by a co-worker Tuesday after he failed to show up for his construction job. Police said there was no sign of forced entry at Gareau's residence and no one has been charged in his death.
On Saturday, the body of 20yr old Brian Adrian Rankine (also known as Rankine-Carter) of West Bay. Rankine-Carter’s body was found in a car parked on McField Lane, George Town, shortly after midnight. He was believed to be homeless at the time of his murder according to family members, and the Royal Cayman Islands Police Service has contacted his mother who lives in the United Kingdom.
Arrangements are also being made for her return to the Cayman Islands and a pathologist is being flown in from Miami to complete a post mortem. Two men remain in custody (a Jamaican and Nicaraguan) on suspicion of murder in connection with Rankine-Carter’s death and a vehicle seized during the course of the investigation is undergoing a forensic examination, as is other evidence obtained from the two suspects.
UPDATE:
Suspect arrested in Cayman Islands in stabbing death of former Prince Albert man
A 28 year old man was arrested Thursday afternoon on the Cayman Islands in the beating and stabbing death of Martin Gareau, 47.
Gareau had been working construction on the islands for the past four years, but he was raised on a farm about six kilometres west of Prince Albert.
His body was found May 20 in his rented home in Bodden Town by co-workers after he didn't show up for work at Cayman Islands-based manufacturer CI Precast.
An autopsy has shown the 47-year-old had multiple injuries caused by both sharp and blunt objects.
"Paradise" is the island's moniker. Not so anymore. A Canadian Man was found murdered Tuesday, and a Caymanian man found dead on Saturday. Bringing the total to 5 homicides in Cayman this year.
Starting with the most recent murder: An autopsy has confirmed that a former Saskatchewan man found dead in his seaside rental home in the Cayman Islands was the victim of murder. The Royal Cayman Islands Police Service said Thursday that Martin Joseph Gareau, 47, suffered multiple injuries to his head and body caused by sharp and blunt objects.
"The post-mortem shows that Mr. Gareau suffered very serious injuries, which could only be caused by another person or persons," said Det. Insp. Kim Evans. Gareau, a former resident of Prince Albert, Saskatchewan (Canada) who had been living in the Cayman Islands for the last four years, was last heard from in the city of Bodden Town on Sunday. His body was discovered by a co-worker Tuesday after he failed to show up for his construction job. Police said there was no sign of forced entry at Gareau's residence and no one has been charged in his death.
On Saturday, the body of 20yr old Brian Adrian Rankine (also known as Rankine-Carter) of West Bay. Rankine-Carter’s body was found in a car parked on McField Lane, George Town, shortly after midnight. He was believed to be homeless at the time of his murder according to family members, and the Royal Cayman Islands Police Service has contacted his mother who lives in the United Kingdom.
Arrangements are also being made for her return to the Cayman Islands and a pathologist is being flown in from Miami to complete a post mortem. Two men remain in custody (a Jamaican and Nicaraguan) on suspicion of murder in connection with Rankine-Carter’s death and a vehicle seized during the course of the investigation is undergoing a forensic examination, as is other evidence obtained from the two suspects.
UPDATE:
Suspect arrested in Cayman Islands in stabbing death of former Prince Albert man
A 28 year old man was arrested Thursday afternoon on the Cayman Islands in the beating and stabbing death of Martin Gareau, 47.
Gareau had been working construction on the islands for the past four years, but he was raised on a farm about six kilometres west of Prince Albert.
His body was found May 20 in his rented home in Bodden Town by co-workers after he didn't show up for work at Cayman Islands-based manufacturer CI Precast.
An autopsy has shown the 47-year-old had multiple injuries caused by both sharp and blunt objects.
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