Canadian retiree Raymond Frank Creed appeared in Summary Court this week so that a date could be set for a preliminary inquiry into charges of money laundering.
Creed, 71, is accused of assisting Kenneth Taves to retain the benefit of criminal conduct between July 1997 and May 1999.
One of the charges refers to accounts held or controlled by Taves at Euro Bank Corporation.
Magistrate Margaret Ramsay-Hale set a long-form preliminary inquiry for the week of 18 July. The defendant is represented by Norman Hill QC and Attorney Steve McField.
In court this week, Acting Solicitor General Cheryll Richards advised that the charges might be amended before the PI. She also told the court that a number of witnesses would be from overseas.
Taves’ criminal conduct involved credit card fraud, for which he was sentenced in the US to 135 months imprisonment in 2004, according to several Internet websites.
Creed’s name was linked with Taves’ name on the indictment in what came to be known in Cayman as the Euro Bank trial (Caymanian Compass, 26 June 2002).
The bank was not a defendant, but four people who had worked at the bank were. All four defendants were found not guilty of all charges after the Crown offered no further evidence against them.
That action was taken following the revelation that evidence in the case had been destroyed by the head of what was then known as the Financial Reporting Unit. He told the court he had destroyed documents on instruction from a UK government agency, which was never named. (Compass, 15 January 2003).
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