CIMA cancels fugitive’s director registration

The Cayman Islands Monetary Authority has canceled Ryan Bateman’s director registration, the regulator announced this week.

Bateman left the Cayman Islands in late 2014, accused of inflicting grievous bodily harm to a woman he lived with at the time. He faces other legal issues, including civil suits in Cayman Grand Court accusing B&C Capital Ltd. of not returning assets to investors.

On Tuesday, CIMA published the notice to Bateman, a Canadian national, canceling his director registration. The decision notice accuses Bateman of “carrying on business in a manner detrimental to the public interest, or to the interests of the covered entities for which you are appointed as a registered director.”

Additionally, the notice states, Bateman is not carrying out his business as a director “in a manner that is fit and proper,” and, the regulator writes, Bateman is “a person that is not a fit and proper person to hold a position as a registered director.”

CIMA’s notice, signed by Managing Director Cindy Scotland, says Bateman has not complied with directions it issued on June 7, but it does not say what those directions were.

Bateman has been a fugitive since November 2014 when he did not appear for Grand Court to face charges of grievous bodily harm.

Last year, Highgate Securities Ltd., a company incorporated in Belize, sued Bateman’s B&C Capital Ltd. for not returning assets the Cayman company held in an account for Highgate, according to the June 2015 writ published in full on the Offshore Alert website.

In March of this year, Triathlon Ltd., a Bermuda company, filed a winding up petition against B&C Capital Ltd. in Cayman’s Grand Court. Triathlon accused B&C of not paying back US$610,000 that Triathlon held in an account with Bateman’s company, according to the petition.

In an emailed statement to the Cayman Compass, Mr. Bateman said, “I am consulting professional advisers, will consider their advice and take such action as I may be advised.”