Police arrest investment firm worker

A 37-year-old George Town man was arrested Friday in connection with what the Royal Cayman Islands Police said were suspected money laundering activities.

The suspect was not identified by police and had not been charged as of press time Monday.

According to an RCIPS statement: “The man had been appointed as a voluntary liquidator for two funds while employed with the local office of an international investment firm. During this appointment, a quantity of money was misappropriated from these funds and transferred to another account.”

The suspect was released on police bail and was prohibited from leaving the Cayman Islands while the case is under investigation.