Confiscation hearing is delayed

Robert Christopher Tom Girvan will
return to Grand Court on 25 October for a confiscation and sentencing hearing,
attorneys agreed last week. Girvan, 49, pleaded guilty in August to 18 charges
of theft and three of money laundering for a value of about US$19 million.

He admitted committing the offences
between January 2004 and June 2008 while he worked as trader and director of
various companies.

Details of the offences have not
yet been set out in open court. Former Crown Counsel Kristy-Ann Gunn explained
when Girvan entered his pleas that the large majority of stolen funds was lost
in unauthorised trading, but a significant amount was used by Girvan for his
personal gain. Companies whose funds were stolen include Grand Island Commodity
Trading Fund, Grand Island Commodity Trading Fund II, Grand Island Income Fund,
Grand Island Master Fund Ltd, Caribbean Commodities Ltd, and RCTG Investments
Ltd. Girvan also admitted thefts from four named individuals or businesses.