[117049] in Cypherpunks
caymans bend over
daemon@ATHENA.MIT.EDU (lcs Mixmaster Remailer)
Wed Aug 25 17:48:12 1999
Date: 25 Aug 1999 21:20:06 -0000
Message-ID: <19990825212006.29650.qmail@nym.alias.net>
To: cypherpunks@toad.com
From: lcs Mixmaster Remailer <mix@anon.lcs.mit.edu>
Reply-To: lcs Mixmaster Remailer <mix@anon.lcs.mit.edu>
Wednesday, August 25, 1999
Cayman Islands Lifts Veil of Bank Secrecy
Investigators tracing the proceeds of an alleged
international credit card fraud unearthed
millions of dollars this month after piercing the
secrecy laws of the Cayman Islands, long known as
"the Switzerland of the Caribbean."
In a stunning break from tradition, Cayman
authorities have turned over records showing that
Kenneth H. Taves of Malibu, who is accused of
improperly billing up to 900,000 credit card
holders, transferred $25.3 million in allegedly
illegal profits since mid-1997 to Euro Bank Corp. on
Grand Cayman.
Taves' links to the bank have sparked a scandal
on the tiny island territory, which has long wrestled
with its reputation as a safe-deposit box for crooks.
The British dependency of 37,000 people is home to
more than 570 banks with $500 billion in deposits
from foreign banks.
http://www.latimes.com/HOME/NEWS/FRONT/t000075771.html
