Jamaican in hot water in Cayman

Jamaican businessman Robert Christopher Tom Girvan, who pleaded guilty to 18 counts of theft and three money-laundering charges, will return to court in The Cayman Islands on October 25 for a confiscation and sentencing hearing.

Girvan, 49, pleaded guilty in August in the Cayman Islands' Grand Court and admitted to committing the crimes between January 2004 and June 2008 during his stint as a trader and director.

According to Crown Counsel Kirsty-Ann Gunn, the charges are related to approximately US$19 million.

Gunn also told the court in August that the majority of funds stolen were lost in unauthorised trading, while a significant amount was used by Girvan for personal gain.

Companies from which funds were stolen include Grand Island Commodity Trading Fund, Grand Island Commodity Trading Fund II, Grand Island Income Fund, Grand Island Master Fund Ltd, Caribbean Commodities Ltd and RCTG Investments Ltd.