Criminal probe involves ex-Scotiabank worker

The Royal Cayman Islands Police Service Financial Crime Unit is looking into a potential criminal case involving a former employee at a local bank.

The woman, described by Scotiabank as a former loan officer, has not been arrested in connection with the case or charged with any offences, according to police. However, the employee is no longer with Scotiabank, as of the week of 17-21 September, according 
to company officials.

According to a statement released by Scotiabank this week, the bank is investigating the actions of a former employee regarding some “commitment fees”.

Commitment fees are fees attached to a mortgage, usually around 1 per cent of the home or property 
purchase price.

“We are taking this situation very seriously and our preliminary assessment indicates that no Scotiabank mortgages were affected by this incident,” a statement from the company read. “We have notified the police and are working cooperatively with them during their investigation. We hold employees to extremely high standards and do not tolerate any actions that do not meet those standards – at the hint of wrongdoing we take swift and 
decisive action.”

The police service confirmed authorities were investigating “suspected criminal activity” with 
regard to the matter.

1 COMMENT

  1. I find it amazing that the Compass will not print any submissions regarding our Minister of Education because its before the courts. Yet you will print this article where a person has not even been charged, arrested or any other action taken. It would not take the brains of a rocket scientist to quickly determine who she is. Way to go Compass!

    Editor’s note: Simply because police are investigating a matter does not mean that it is, or ever will be, before the court. We have not named the individual in this case, as is our longstanding policy, even though we are aware of who she is.

    In Mr. Anglin’s case, as soon as he was charged, we no longer allowed comments as we do for all court cases until their completion.

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