Thursday, March 27, 2008

Cayman Royal Cayman Islands Police Embroiled in Corruption















The officers above were not necessarily the ones put on suspension.

The Governor of the Cayman Islands, His Excellency Stuart Jack, CVO, today (Thursday, 27 March) announced that he has put three senior police officers on required leave to facilitate enquiries into allegations against officers of the Royal Cayman Islands Polput on ice Service (RCIPS). Police Commissioner Stuart Kernohan, Deputy Commissioner Rudolph Dixon and Detective Chief Superintendent John Jones were put on required leave with immediate effect to enable an investigating team from the Metropolitan Police Service led by DCS Martin Bridger to proceed with their enquiries. This action follows a separate investigation by Mr Bridger’s team into serious allegations made against the Deputy Commissioner Anthony Ennis and the editor in chief of Cayman Net News Desmond Seales. “The investigating team has shown that these allegations were false. However, in the course of their original investigation certain other matters have come to light which now, in the interest of protecting the high standards of the RCIPS, we must look into,” the Governor explained.

Although the Governor said that it could cause “some anxiety”, he urged the community to look at the positive outcomes of these matters: “It sends a clear signal that regardless of position, serious allegations will be investigated, and that we are committed to pursue the highest ethical standards in public office without fear or favour. It also serves as an assurance to our community that illegal or unethical actions that tarnish the reputation or interfere with the media will not be allowed.” Further in his statement to the media Governor Jack emphasised that the decision to take action against these top level officers was not taken lightly: “It was after very careful examination by me of the information that have been gathered to date. I am grateful for the valuable advice received from the Attorney General’s Office. And of course I was also mindful of the high public office that these individuals hold.” He added: “The enquiries are ongoing and I want to make it clear at this point that no judgment has been made as to the guilt, innocence or culpability of any person.

The decision to put these officers on required leave was made to protect the integrity of the enquiries to be made and it shows fairness to the officers involved.” The conditions of the required leave will be under constant review by HE the Governor as the investigation progresses. To lead the RCIPS in the interim the Governor has appointed David George, an UK police officer, as Acting Commissioner. While Mr Jack pledged to make every effort to keep the community informed, he did say that the sensitivity of the issues involved as well as the sub judice rule will restrict the amount of information the investigative team can provide. The Governor urged the community to steer clear of “sensationalism and divisive politics” and instead work together to combat rumour, innuendo and mischief making.

Offshore Financial Centers: Myth And Reality

Bryan Hunter

For too long, offshore financial centers like the Cayman Islands have been stereotyped as refuges for the wealthy to stash their fortunes. Like most stereotypes that grow more out of myth than reality, the role of today's offshore financial centers is quite different from what many perceive.

Successful offshore financial centers uphold global transparency and cooperation standards and enable market efficiency and competition. It's time to dispel the stereotypes that have long driven global efforts to stem the vital role of financial services centers. The realities of what offshore financial centers are and their contributions to global financial markets are explained below, alongside four of the most commonly held myths.

Myth: Offshore financial centers only benefit the rich and powerful.

Reality: The Cayman Islands and other offshore financial centers compete aggressively with each other every day to offer the most cost-efficient environment for international capital flow. This competitive market allows companies to raise financing and package financial risk more economically. These efficiencies benefit businesses, consumers of goods and services sold by these companies around the world and shareholders, which include such venerable clientèle as non-profit endowments and public-sector pension funds.

Myth: Companies and investors doing business in offshore financial centers are driven by a need for secrecy.

Reality: Today's successful offshore financial centers have a long history of promoting commercial certainty for global clientèle. For the Cayman Islands, this has meant adherence to recognized and relevant international standards--not absence of regulation--which has helped fuel sustainable growth of the sector. Since the early- to mid-1980s, the Cayman Islands has progressively reinforced its international cooperation channels in law enforcement, regulation and exchange of information on tax matters. These channels include a tax information exchange agreement that was signed with the U.S. in 2001 and is in force, as well as a mutual legal assistance treaty with the U.S. on criminal matters in effect since 1990 and under which the Cayman Islands and the U.S. have cooperated in some 230 requests for assistance.

Myth: Offshore financial centers prey upon other countries' tax codes, fostering illegal tax shelters.

Reality: Investors and/or their advisers choose the Cayman Islands for tax neutrality. This simply means that investors and their specific corporate activities--which can often involve two or more countries--are not subject to additional layers of taxation over and above those of their home country, which is where capital flows ultimately end up and are then taxed. In a similar context, numerous U.S. companies have left states where they were founded or have substantial business operations and established registered offices in Delaware, Nevada, Colorado and Texas so they can take advantage of the tax savings and efficiencies of having a registered office there. This is not seen as being shady or unduly evasive in the least.

Myth: Offshore financial centers foster illicit activity and are unregulated.

Reality: The Cayman Islands has a strong track record of effectively regulating a full spectrum of financial services that measures up with standards found anywhere in the world. Effective oversight of complex financial activity--where literally billions of dollars trade hands every day--can only be accomplished by regulating services typically unregulated in other global regimes, such as company formation services, trust-services providers and fund administration. In addition, the Cayman Islands government invests significantly back into regulation and into combating cross-border financial crime.

Over the past 15 years, the Cayman Islands financial regulation and prevention of financial crime regimes have been evaluated, "road-tested" and recognized by many third-party organizations such as the IMF, FATF and OECD. The Cayman Islands continues to participate in these valuable "health checks" to help ensure the integrity of its regimes.

Due to necessity and market expectations, offshore financial centers must be mature, sophisticated and specialized providers of financial services with sound legal frameworks and modern infrastructure in order to succeed. The "Big Four" accounting and auditing firms, most of the world's fund-service providers and substantially all of the world's top global banks have a presence in the Cayman Islands.

It's time to focus on the reality. Offshore financial centers are increasingly critical economic catalysts in today's fast-paced, cross-border, open-market system. Their continued and singular focus on transparency and appropriate levels of regulation is vital to a dynamic and resilient global economy.

Quick Facts about The Cayman Islands

  1. The Cayman Islands were discovered in 1503 by Christopher Columbus. They were originally named “Tortugas” [Spanish for turtles] due to their large population of green sea turtles.
  2. Grand Cayman is 22 miles long and less than 8 miles wide. Maximum elevation is about 60 ft.
  3. Corals, which resemble colorful rocks and plants, are actually vast colonies of tiny animals. Coral reefs are home to over 25% of all marine life and are among the most fragile and endangered ecosystems.
  4. It can take 5 to 10 thousand years for a fully developed reef system to evolve.
  5. Over 400 species of fish and over 100 species of coral inhabit Cayman’s reef.
  6. A Nor’ wester is a storm which generates strong winds and high seas along the north and west area of the island. Nor’ westers occasionally occur between November and April, usually lasting 2-3 days.
  7. Pollution, over -fishing, reckless dredging and nefarious diving practices are leading causes of reef destruction.
  8. Turtles are air breathing reptiles who must surface every hour or so to breathe. Look for them resting on the surface in between dives.
  9. Fire coral appears in many intricate forms. However, it delivers a painful sting upon contact with skin. Vinegar or isopropyl alcohol will help alleviate the pain.
  10. The wreck of the ten sails, off the shores of East End is a monument to the bravery of many Camanian men who, in 1794 risked their lives to rescue the crew of this ill- fated expedition from England when they floundered on the reef. Legend has it that in appreciation of their heroic efforts, King George III granted permanent tax -free status to the Cayman Islands.
  11. Cayman is a Christian country and as such observes the Sunday Sabbath. Supermarkets, bars, nightclubs and liquor stores are closed. It is forbidden to dance on Sundays, and establishments are only permitted to play soft, background music. Bars are required to close early on Saturday night and must be empty by midnight to observe the Sabbath.
  12. With a resident population of less than 200, shy iguanas and rare birds out-number humans on Little Cayman. Little Cayman has the largest known breeding colony of the Red Footed Booby (5000 pairs) and only breeding colony of Magnificent Frigate Birds in this hemisphere.
  13. Black corals are not harvested in the Cayman Islands. It is imported for crafting from places such as; Honduras by professional divers, at depths and locations well outside the recreational dive limits.
  14. The hurricane season is from 1st June to 30th November.
  15. There are approximately 4,000 hotel and condo rooms available to visitors most of which are adjacent to the Seven Mile Beach.
  16. Hurricane Ivan left most of the reefs intact and made many of the existing sites different and more exciting. Shipwrecks render a bridge from past to future as their slow decay affords birth to new living reef.

Sunday, March 9, 2008

Polo Ralph Lauren, Hugo Boss, Lacoste available at Camana Bay


NKY at Camana Bay opens its doors to the public on Friday, 7 March. Presenting the latest collections from today’s top fashion designers, the stylish new store offers a wide choice of men’s and women’s clothing and accessories.

Visitors to Camana Bay will find NKY at the crossroads of The Paseo and Market Street, at the very heart of the Town Centre. The 2,200 square foot store, decorated with dark hardwood floors, Grecian pillars and a beautiful leather sales desk, is a stunning showcase for some of the best-selling names in fashion. Lines available at NKY include popular brands such as Polo Ralph Lauren, Hugo Boss, Lacoste, Calvin Klein Underwear, Tommy Bahama and Façonnable. New additions to the portfolio are Paul & Shark, a collection of yachting and sportswear, Robert Graham’s beautiful woven shirts and Nilika by Xsara, an Israeli designer who has fast become one of the hottest labels in Miami.

NKY’s owner Nicola de Lima says, “NKY’s mission in fashion retail is directed towards our local residents and visitors. Our objective is to offer the latest collections from all of our lines at competitive pricing from all of our designers. NKY now eliminates the need for anyone who lives on the Island to have to travel off island to do their shopping. Our new location at Camana Bay is the ideal venue for the top designers’ labels we carry. They are as excited to be a part of such a great new shopping destination as I am.”

Accessories are also a key focus for NKY, where a dedicated handbag and shoe gallery will provide irresistible temptation for window shoppers and browsers. Even canine fashion followers will be well catered to with a fun and glitzy range of dog accessories.

“We are delighted to have NKY leading the way as our first clothing and fashion store in the Town Centre,” said Jackie Doak, Executive Vice President of Dart Realty (Cayman) Ltd, the developers of Camana Bay.

Editors note: The brands selling in this store are notoriously discounted, and marked down designer labels that are available in Miami, New York, California, Detroit, Chicago, and Toronto for almost next to nothing.

Cayman carbon footprint raises concern

The United States Energy Department’s Carbon Dioxide Information Analysis Center has ranked the Cayman Islands at number 55 on a list of 207 countries, for global carbon emissions per person.

Published on the BBC website in December 2007, in a study where all countries want to come in last, Cayman’s carbon footprint leaves a worldwide impression.

According to the report, the Cayman Islands national emissions (thousands of tonnes of carbon) are 85, and emissions per person (tonnes of carbon) equals 1.96. The statistics are for 2004, the year of Hurricane Ivan.

After several telephone calls and emails to the Department of Environment Health (DEH) this week, Cayman Net News received no comments at press time. An initial enquiry to the Department of Environment resulted in the newspaper being directed to the DEH Assistant Director Sean McGinn, who has responsibilities for the Solid Waste Unit.

Trinidad and Tobago, Netherlands Antilles, and Bermuda are the only Caribbean islands ranked above the Cayman Islands in the US Carbon Dioxide Information Analysis.

The definition of carbon emissions is: a polluting carbon substance released into the atmosphere; carbon dioxide and carbon monoxide produced by motor vehicles and industrial processes and forming pollutants in the atmosphere.

A carbon footprint is a measure of the impact human activities have on the environment in terms of the amount of greenhouse gases produced, measured in units of carbon dioxide.

Saturday, March 1, 2008

Shootings and Stabbings in Grand Cayman...

Three separate, and apparently unrelated attacks left one man dead and three others critically injured overnight Friday.


The attacks, a shooting and two stabbings, all occurred just outside Grand Cayman nightclubs between the hours of midnight and 3am.

In the first incident, a 21–year–old man was stabbed in the throat during a fight outside the Pit Stop bar (also known as the Everglow Bar) in Bodden Town. The victim was picked up by an ambulance after friends drove him part of the way into George Town. He was later pronounced dead.

A 20–year–old man was arrested on suspicion of murder in connection with the stabbing attack.

Just a short while later, a fight broke out in the parking lot of the ShirReynolds bar on Eastern Avenue, George Town. Witnesses reported several men were fighting. Two of them, a 28–year–old and a 40–year–old, ended up with stab wounds and were hospitalised in critical condition Saturday.

About 90 minutes after the ShirReynolds incident a man was shot in the head outside of Pepper’s Lounge on West Bay Road, George Town. Witnesses there said the man was leaving the bar around 2.30am and had gotten into a car when he was shot by someone pointing a gun through the window.

Police expected the victim in the shooting would be airlifted off island for further medical treatment. Police did not report arrests in either the stabbing outside ShirReynolds, or the shooting outside Pepper’s Lounge.

The homicide in Bodden Town was the third so far this year in Grand Cayman. Last year, there were three killings on the main island for the entire year.

The Royal Cayman Islands Police Service said the three incidents which occurred in the early morning hours were a rarity for the country. Acting Police Commissioner Rudolph Dixon said officers would be out in force the remainder of the weekend.