Robert William Schultz (40), a US national who admitted he stole US$289,660.12 from the Cayman Islands Chamber of Commerce pension fund over a two year period to fund his lust for drugs was sentenced to spend 5 years in jail.

Justice Charles Quin handed down his sentence on Tuesday 4^th December.

The judge said that, “much has been made of the Defendant’s contrition and remorse since his arrest in November 2011. Furthermore, on more than one occasion, the Defendant has expressed his desire to repay the money he has stolen. The Court notes that although the Defendant had been on bail for four months, no monies have been repaid by him to the Chamber of Commerce to date.

“The Court also notes that the Defendant was bailed by the RCIPS on the 24th November 2011. However, on Wednesday the 28th March 2012 the officers from the Immigration Department at the Royal Watler Terminal stopped the Defendant travelling with his birth certificate and a boarding pass for The Carnival Valor in the name of Robert Schultz. The Defendant explained to the Immigration Officers that he had lost his passports, and then it was discovered that he was on the stop notice. Consequently, the Defendant was immediately re-arrested.

“It is clear that the Defendant was attempting to abscond. One is therefore forced to question the genuineness and sincerity of the Defendant’s professed contrition and remorse when he took such serious steps to evade punishment for his fraudulent actions.

Despite the Crown submitting a starting point of at least four years to be considered Justice Quin said that because the offence was of a very serious nature he viewed the starting point between six and seven years and gave his reasons.

The Judge in his summing up said the crime by Robert Shultz was “one of the most serious breach of trust cases to come before this court.” Although he had given a 25% discount because he admitted his offence, he gave no further discounts for mitigating factors. He said Shultz had systematically stolen money people were saving for their pension, and given the circumstances of the theft, he needed to impose a sentence that reflected the gravity and was an effective deterrent.

Justice Quin ordered that the time Shultz had already served was to be taken into account. Because he had received no application for costs or compensation, the Judge said he had considered some form of compensation order.

“However,’ he said, “I find it would be unrealistic to expect that the Defendant would be granted a work permit to work again in the Cayman Islands and I cannot envisage how this Court could properly oversee any repayment plan when the Defendant is no longer in this jurisdiction. Accordingly, and for the above reasons, I make no order for compensation.”