The Cayman Islands Monetary Authority has alerted Chief Secretary George McCarthy to the use of his forged signature on documents to several international banks last week.
In these letters, banks are alerted to make payments on a ‘Foreign Exchange Allocation Commission’ and include a wire transfer account number. Along with Mr. McCarthy’s forged signature these letters addressed from the Ministry of Finance bear CIMA’s logo and refer to Mr. McCarthy as Financial Secretary.
Mr. McCarthy vacated the position of Financial Secretary in November 2004 to assume the position of Chief Secretary following the retirement of Mr. James Ryan.
‘We have taken these forged letters extremely seriously and have reported them to the Commercial Crime Branch of the Royal Cayman Islands Police,’ said Mr. McCarthy. ‘I am troubled that someone would forge my signature and the letterhead of the Ministry of Finance in order to swindle financial institutions with whom we’ve always enjoyed an honest and responsible relationship.’
Investigations are ongoing to determine the source of the forged letters, states a GIS press release. All financial institutions that conduct business with CIMA or the Ministry of Finance should verify the authenticity of letters they receive by contacting CIMA at (345) 949-7089 or the Finance and Economics Portfolio at (345) 244-2224.