Immigration records were cited by Crown Counsel Cheryll Richards on Friday when she summed up the Crown’s case against Raymond Frank Creed for money laundering.
Attorney Delroy Murray was scheduled to deliver the closing speech for the Defence on Monday.
Creed is accused of assisting Ken Taves to retain the benefit of criminal conduct and concealing or transferring the proceeds of criminal conduct. The alleged offences are said to have occurred between August 1998 and April 1999.
Taves is currently serving a prison sentence in the US for credit card fraud, and has been ordered to repay $US37 million.
Creed’s trial began on 20 March. He did not give evidence. A deposition and an interview he gave in the US in 2000 have been read into evidence.
Jurors have heard that Taves had US$2.4 million transferred into Creed’s bank account in Cayman in February 1999. Creed explained that he had lent Taves US$1.7 million in February 1997 for Taves to expand an Internet business and the loan was repayable in two years with $700,000 interest.
He said he gave Taves the money in cash at Taves’ home in California. There was a promissory note signed by Taves in Malibu on 20 February 1997.
But immigration records, produced to the court by Deputy Chief Immigration Officer Dennis Brady, showed that Creed was in Cayman from 17 December 1996 to 27 March 1997.
Ms Richards said the Crown’s submission was that the promissory note could not have been signed where Creed said or at the time he said. She called the note a contrivance to justify the later transfer of $2.4 million.
She referred to documents which, the Crown said, showed that money went from a Taves-controlled account at Euro Bank Corporation to a Taves personal account at Barclays to Creed’s account at Scotia Bank to Taves’ father’s account at Cayman National Bank.
Creed had said he wrote cheques payable to Taves’ father for $100,000 and $1.9 million because he was buying a house in Malibu, California that was in the name of a company named for Taves’ family members.
He said he made the down payment in December 1998 and then wrote a cheque for the balance after going to view the property.
He said he viewed the property in the latter part of January 1999 during a trip from Cayman to British Columbia to California.
Immigration records show that he left Cayman on 22 January on Air Jamaica and returned 26 January on Air Jamaica and did not leave again until 3 March. Even if he travelled to Canada via Air Jamaica, the Crown contended that he could not have spent the time there that he said he did. Did he really view any property? Ms Richards asked. If not, why say he did?
Ms Richards referred to immigration records a third time to show that Creed was in Cayman on 31 March 1999 when a fax was sent from his home number to an officer at Euro Bank.
The typed message was in reference to an account in the name of Chamonix and said ‘Please liquidate holdings and transfer to V.’
If the defendant was not involved with the account, how would he know it contained holdings that needed to be liquidated? Ms Richard asked.
Creed had indicated that his house might have been open and anyone could have walked in and used his fax.
A document examiner had stated it was highly probable or virtually certain that Creed had written the signature under the message. Asked if that signature could have been taken from another document, the witness said he saw no evidence, such as misalignment.
Creed had been asked if he ever met the bank officer to whom the fax was addressed. He said yes, once, prior to Christmas 1998. Taves had said he would pay back the $2.4 million loan through Euro Bank. Taves told him he should go into the bank and make himself known to that officer.
Creed said he did remember signing a document that had something to do with Chamonix, but didn’t know what it was or why he signed it.
But in addition to a signature on the company incorporation agreement and a corporation signature card, there was a photocopy of Creed’s passport in Euro Bank’s database. How did it get there? Ms Richards asked.