Sources inside the Cayman Islands report that an officer in the Cayman Islands Monetary Authority (CIMA) delivered classified information to Cayman Gang of Four fraudster Sharon Lexa Lamb, who then turned it over to her attorneys. The information included a written statement of facts, submitted by Lawrence Heath, a victim of Lamb's massive multi-million dollar theft of client money, from Dundee Merchant Bank's accounts within the Bank of Butterfield, in Grand Cayman.
Apparently the fact that Lamb, who is being sued by Heath in Grand Court, received the classified documents, is now common knowledge in the Cayman Islands. CIMA recently claimed that it has increased its internal security, but that announcement appear to be solely for public consumption, and without any basis in fact.
Many outside observers have stated that CIMA has failed to fulfill its responsibilities, as the regulator of financial institutions, and corporations engaged in wealth management and securities matters, and that it should be directly administered by the Foreign and Commonwealth Office of the United Kingdom. It is breaches of trust, like the illegal disclosure of classified information, to a Cayman resident known to be accused of fraud and grand theft, that strengthens the argument for direct control by the UK.
Contributed by Kenneth Rijock
Chronicles of Monte Friesner