One arrested in hedge fund investigation in the Cayman Islands
GRAND CAYMAN, Cayman Islands: Detectives from the Royal Cayman Islands Police Service (RCIPS) Financial Crimes Unit (FCU) on Wednesday, July 16 arrested a 47-year-old man on suspicion of theft, false accounting and uttering false documents. The arrest comes as part of investigations into the collapse of the ‘Grand Island Fund’.
The collapse of this fund is thought to involve millions of dollars. The FCU is unsure of how many people are affected by its collapse and Investigations are ongoing into the matter.
The man has been released on bail pending further investigations.
