iNews Briefs
Former Cayman investment adviser gets prison sentence for money laundering
OffshoreAlert are reporting former Cayman Islands-based investment adviser Joshua VanDyk was on Friday (5) sentenced to 30 months in prison in the United States for his part in a money laundering scheme.
Van Dyke, a US citizen, worked for Clover Asset Management, a Cayman Islands investment management firm, who’s managing director, Eric St-Cyr, was also indicted for money laundering along with Turks and Caicos Islands attorney Patrick Poulin. (See also iNews Cayman Front Page story today “Caribbean-based [Cayman Islands] investment advisor sentenced for using offshore accounts to launder and conceal funds”)
See also iNews Cayman story in iNews Briefs published June 18 2014 “Former Cayman company investment adviser pleads guilty to money laundering” at: http://www.ieyenews.com/wordpress/inews-briefs-139/
Cayman Islands: CUC remembers Hurricane Ivan 10 years later
A look back at the challenges and triumphs of getting electricity back to homes and businesses across Grand Cayman.
The documentary will air on CITN/Cayman 27
- Friday, September 12th at 7:30 pm
- Saturday September 13th at 6:30pm
- Sunday September 14th, at 10:30am
Murder accused 24-year-old found dead in Trinidad cell
From Caribbean360
PORT-OF-SPAIN, Trinidad, Thursday September 4, 2014, CMC – Police are investigation the death of a 24-year-old murder accused who was found hanging in his cell late Wednesday.
Police said that Kevin Hospedales, who had been committed to stand trial for the murder of his 60-yer-old father, Harold, was found hanging at the Remand Yard in Golden Grove, Arouca, east of here.
Hospedales is reported to have been sharing a cell with eight other prisoners, who on return from their exercises, found him motionless in the cell with a piece of cloth tied around his neck.
Hospedales was charged with the murder of his father at their Pepper Village, Esperanza, Gran Couva home, in central Trinidad, on July 10, 2011.
Surprised by Motherhood
By Lisa-Jo Baker From DaySpring
Most people who talk about motherhood start out by telling you how much they always wanted to be a mom. Not Lisa-Jo Baker. She was eighteen and growing up in South Africa when her mom died, and she swore she would never have kids. But she fell in love with an American boy with cowboy-green-eyes, married him, and now, a decade and two continents later, they have three. This is the unlikely story of how she got there.
Along the way she has discovered three key things about motherhood.
One, motherhood is hard.
Two, motherhood is glorious.
Three, motherhood is very hard.
And while she wouldn’t trade it, she would throw out all the parenting advice that made her feel like she was somehow failing this test of womanhood. Because all the “what to expect” books in the world can never truly prepare you for the sheer exhilaration, joy, and terrifying love that accompanies motherhood…
Cayman Islands West Bay residents losing homes assessed
The Cayman Islands Department of Children and Family Services has completed its assessment on the residents of the Birch Tree Hill Affordable Homes Site (Apple Blossom).
All the 30 homes in Apple Blossom have been condemned by the National Housing Development Trust (NHDT) because they say they are substandard and do not meet the building code standard of the Planning Department.
There has been much anger and dissatisfaction at the proposals by the displaced residents.
The assessment was commissioned by the Government to identify the living conditions and needs of the residents on an individual basis.
Julio Ramos, General Manager for the NHDT, said the report has been finalized but more work is still needed. He said the board will meet to discuss the findings later in the month. Recommendations will them be made to government.
Online Book Club
By Lisa-Jo Baker From DaySpring
We’re calling it a “Back to School Book Club for Moms” – because, really, at this time of year after surviving the summer and then all the back to school shopping and pencil sharpening and gearing up for ALL THE FORMS a mom really needs something just for her to cheer and champion the holy work she does.
I’d love if you grabbed your cuppa and joined me – everyone welcome – whether you’re a mom of hearts or kiddos or words – please join us. We’ll kick things off on Monday Sept 8th.
(No homework necessary) 🙂
Click the link below to read more… and to view, download and print the book club schedule on a little Surprised by Motherhood book mark!
Cayman Islands: Two 5.2m earthquakes in the Caribbean near tsunami drill location from 2013
From Dutchsinse
This is not something we see every day, nor every year for that matter. Large earthquakes just South of Cuba.
TWO different 5.2M earthquakes struck South of the Cayman Islands in the Caribbean (on the Southern edge of the Gulf of Mexico).
Both events happened in the same 12 hour period, in the same location (separated by just a few miles)
IMAGE: caribbean earthquakes sept 3 2014
Ironically, last year (in 2013) NOAA partnered up with UNESCO to run a simulated 8.5M earthquake / tsunami drill in the same area.
A Gulf of Mexico / Caribbean Tsunami is something the government has been preparing for.
Catholic Archbishop says new Code of Ethics “a good moment” for Trinidad & Tobago
From Caribbean360
PORT-OF-SPAIN, Trinidad, Friday September 5, 2014, CMC – Trinidad and Tobago political parties have signed a nine-page Code of Ethical Political Conduct with Roman Catholic Archbishop Joseph Harris saying “we believe it is a good moment for the nation”.
Prime Minister Kamla Persad Bissessar and the leader of the Congress of the People (COP) party, Praksah Ramadar, were not present at the signing on Thusday, but their respective political parties were represented at the event that was being coordinated by the Roman Catholic Church.
“We believe it is a good moment for the nation and that if we can fulfill what is in the code then I think our country would have taken a step forward,” Archbishop Harris said.
The five-part charter outlines a prohibited code of conduct that includes “No use of State resources for political campaigning; Not offering any inducement or reward to anyone joining a political party; Not use of language to provoke violence or make false or defamatory allegations”.
The charter, officiated by Archbishop Harris and co-chaired by Trinidad and Tobago Transparency Institute head, Deryck Murray.
For more on this story go to: http://www.caribbean360.com/news/catholic-archbishop-says-new-code-of-ethics-a-good-moment-for-trinidad-tobago#ixzz3CSuxWw75
Ex-Cayman Premier asked to resign from accounts committee
Cayman Islands ex-premier, McKeeva Bush and Opposition Leader, has been asked to resign from the Public Accounts Committee (PAC).
The Chairman of PAC, Roy McTaggart, has confirmed he has asked Bush to resign because of the inappropriate remarks he made about the Auditor General’s recent report over travel and hospitality costs.
Bush said it is within his rights to question the Auditor General and his own spending and said McTaggart’s resignation request was political trickery to embarrass him. He also said McTaggart should not chair the PAC as he is a member of the coalition government.
He called that a “breach of a political benchmark”.
Milky Way part of newly identified galactic super cluster
From The Siasat Daily
Washington, September 05: A team of astronomers has demonstrated that our own galaxy, the Milky Way, is part of a newly identified ginormous super cluster of galaxies, dubbed as “Laniakea”, meaning “immense heaven” in Hawaiian.
This new discovery defines the boundaries of our galactic neighbourhood and also confirmed earlier, unrecognised linkages between galaxy clusters in the universe.
“We have finally established the contours that define the super cluster of galaxies we can call home,” said R. Brent Tully, an astronomer from the University of Hawaii at Manoa.
“This is not unlike finding out for the first time that your hometown is actually part of a much larger country that borders other nations,” Tully added.
The Laniakea super cluster is 500 million light years in diameter and contains the mass of one hundred million billion Suns spread across 100,000 galaxies.
The team used the US National Science Foundation’s Green Bank Telescope (GBT) to determine the status of the Milky Way.
By using the GBT and other radio telescopes to map the velocities of galaxies throughout our local Universe, they were able to define the region of space where each super cluster dominates.
“Green Bank Telescope observations have played a significant role in the research leading to this new understanding of the limits and relationships among a number of superclusters,” Tully noted.
The study appeared in the journal Nature. —IANS
Cayman Islands Red Cross needs more help to raise funds
Cayman Islands Red Cross deputy director Carolina Ferreira has said the support this year for donations to the charity is not being as well supported this year as previous. She called it “worrying” and Jondo Obi, director of the Red Cross, said the work they do is “only possible with the support of local businesses and individual donors.”
The Red Cross Dinner Dance, traditionally held every year in June, is now slated for Sept. 27 at the Westin resort, followed by its annual RBC/CIRC Charitable Golf Tournament on Oct. 3 at the North Sound Golf Club.
“Funds that are raised from these two events are essentially what keep the organization afloat and able to provide the support that is needed to the most vulnerable within our community,” Ferreira said.
The Red Cross depends also on donations, often received from local corporations, to provide funding for its community aid programmes, which are centered on disaster management, first aid, and HIV and AIDS.
For more information on the Cayman Islands Red Cross, visit www.redcross.org.ky
Man drives car into Walmart store after being fired
By Ashlee Kieler From Consumerist
It’s totally understandable for someone to be angry over the loss of their job. But it is not okay for that person to then run their car into their former place of business.
KPLC-TV reports that a man drove his vehicle into a Louisiana Walmart store shortly after being fired Thursday morning.
The ordeal began after the man was escorted from the building. Officials say he then drove around the parking lot, came back to the storefront and rammed his vehicle into the entrance.
But it didn’t end there, officials say the man got out of this car, ran inside the building and made verbal threats to employees.
Officers say the suspect resisted arrest and was immobilized with a stun gun.
No major injuries were reported, but some people suffered minor injuries from broken glass, KPLC reports.
Management with Walmart did not specify why the man was fired.
For more: http://consumerist.com/2014/09/04/man-drives-car-into-walmart-store-after-being-fired/
More than $10M Pension plan money used to fund homes in Cayman Islands
Withdrawals – 30 June 2014
Pension Withdrawals – 30 June 2014
Published 2nd September 2014, 10:34am
Pension Withdrawal For Dwelling / Property
(Inception to 30 June 2014)
| Applications Received to Date | 523 |
| Applications Approved To Date | 506 |
| Applications Rejected To Date | 13 |
| Applications withdrawn | 4 |
| Applications Approved to Construct Dwelling | 60 |
| Applications Approved to Purchase Dwelling | 297 |
| Applications Approved to Payoff Mortgage | 107 |
| Applications Approved to Purchase Land | 40 |
| Funds Disbursed To Construct Dwelling | $ 1,127,509.07 |
| Funds Disbursed To Purchase Dwelling | $ 5,707,569.93 |
| Funds Disbursed to Payoff Mortgage | $ 2,853,628.10 |
| Funds Disbursed to Purchase Land | $ 620,389.53 |
Statistics are done Quarterly.
The foregoing statistics show that 506 Caymanians have withdrawn more than CI$10M from the Cayman Island private sector pension schemes so they can buy or build a home.
Stunning black-and-white photos show Texas’s surprisingly large and vibrant surf culture
By Harrison Jacobs From Business Insider
IMAGE ATTACED: Kenny Braun/Surf Texas
California and Hawaii have long been considered America’s unofficial capitals of surfing. But Texas also has a storied a surf culture, though few outside of the state know about it.
The first generation of surfers in Texas appeared in the 1950s and 1960s along the Gulf Coast, at the same time surfing was entering American culture through Southern California and Hawaii.
Though photographer Kenny Braun was too young for that first wave, he has been surfing the Texas coast since the 1970s and has watched it explode in the intervening decades.
For the past 15 years, Braun has carried around his camera to Texas’s best local surf spots to document the little known scene, which he says these days has “more surfers than Texas has real cowboys.”
Braun shared a number of photos from his time in the scene here, but you can check out the rest in his new book, “Surf Texas.”
Cayman Captive Forum’s keynote speaker to be renowned TV scientist
Doctor Michoi Kaku, a Japanese-American theoretical physicist, will be the keynote speaker at the 22nd Cayman Captive Forum to be held at the Ritz-Carlton Grand Cayman December 2-4.
Dr Kaku is a futurist, and a communicator and popularizer of science. He has written several books about physics and related topics, has made frequent appearances on radio, television, and film, and writes extensive online blogs and articles. He has written three New York Times Best Sellers: Physics of the Impossible (2008), Physics of the Future (2011), and The Future of the Mind (2014).
Kaku has hosted several TV specials for the BBC, the Discovery Channel, the History Channel, and the Science Channel.
The Cayman Captive Forum will also feature presentations from some of the world’s leading practitioners in the captive insurance industry.
Homicide is largest cause of death for 10-19 year old boys in many Latin American and Carribbean countries.
From telesur
A UNICEF report released Thursday has shone a light on the ongoing violence, including homicide, towards children worldwide, with shocking findings for Latin America and the Caribbean.
At least 27 children and teenagers are killed for every 100,000 people in El Salvador, making it the most violent country for children in the world according to the “Hidden in broad daylight” report.
In addition, 33 percent of Salvadorean female teenagers ages 15 to 19 have suffered physical, emotional, or sexual violence from their partners, while at least 43 percent of Salvadorean school children have suffered bullying in the form of robbery, insults, threats, or physical aggression before finishing primary school.
“This is uncomfortable data, which no government nor parent would like to see.” said Anthony Lake, UNICEF’s Executive Director, in the press release.
Most worryingly, homicide is the “leading cause of death among males between 10 and 19 years old in Panama, Venezuela, El Salvador, Trinidad and Tobago, Brazil, Guatemala and Colombia.”
The study gathered data about violence against children and teenagers -anyone under 20 years old- from 190 countries, highlighting the immense impact that it has on their lives. The report forms part of UNICEF child violence awareness initiative #ENDviolence.
Miss Teen Cayman cancelled
Tanya Mortimer of the Lions Club of Grand Cayman announced on CITN/Cayman27’s Daybreak Show on Friday (5) there would be no Miss Teen Cayman Islands this year.
For over 30 years the Lions Club of Grand Cayman, the sponsor group for the Leos Club, has staged the teen pageant but through lack of funding and logistical support, they have sadly had to cancel the event.
However, Mortimer said it will be back next year when it’s the Lions Club’s 40th anniversary – it’s “gonna have a bigevent” she said.
KnCMiner raises $14 Million to take bitcoin mining to the moon
By John Biggs from Techcrunch
Swedish maker of bitcoin miners, KnCMiner, has announced a $14 million Series A to help build out new mining chips along with hosted mining services. Founded by Sam Cole and Andreas Kenner, the company raised with GP Bullhound advising. Creandum led the round.
“The funding will enable KnCMiner to expand its mining operations and ability to offer services to consumers in relation to the Bitcoin environment,” said the company in a release.
KnCMiner has been making heavy-duty ASIC systems that literally move the bitcoin markets a few seconds after they are deployed. The company is working on new chips now.
“We are improving our 20nm ASIC capability, and for R&D on the next generation ASIC chip which will come on-stream next year and will represent a step-change in processing capacity,” said Cole.
The company hasn’t been actively looking for funding. Most of their miners sell out immediately during pre-order periods and they’ve been able to fund the entire venture on their own. Now, however, they’re looking to expand operations in hosted mining as well as create new chips faster.
The company is definitely still bullish on bitcoin and will be looking for about $70 million in Series B funding in the next year.
“KnC believe that Bitcoin’s price will appreciate steadily and significantly over time due to the interaction of a fixed rate of ‘money supply’ growth and significantly faster growth in transaction volumes and therefore rising ‘money demand.’ Excess demand for Bitcoins will lead to currency appreciation, i.e. a rising U.S. dollar-value of Bitcoins, over time,” said Cole.
“We believe bitcoin will have a tremendous impact on a global scale,” he said.
Cayman government to send delegation to London despite high risk countries list being removed
Even though the United Kingdom’s Financial Conduct Authority (FCA) have pulled their list of “high risk” countries that included the Cayman islands, Cayman’s government is still sending a delegation to London next week.
Speaking on CITN/Cayman27 last Friday (5) Financial Services Councilor Roy McTaggart said, “It is unfortunate, we didn’t know about it. But we must let the diplomatic channels do their work and government here is not sitting down and hoping this will go away.”
A Buckingham Palace guard put on a wild show for tourists, and the army isn’t pleased
By Paul Szoldra From Business Insider
The guards outside Buckingham Palace are known for their incredible bearing, often standing for hours of post with nary a flinch.
But a recently discovered video uploaded to YouTube last month shows a lighter side to the Queen’s Guards, as an unidentified soldier was filmed by tourists showing off some funky dance moves as he walked his post.
The video, which was uploaded Aug. 20, came with the caption: “Will Her Majesty be amused. A Buckingham Palace guardsman misbehaves on duty while The Queen is on holiday. His senior officer might be having a chat with him later…”
Her Majesty may, or may not, be amused. But the British Army sure isn’t. According to The Guardian, the soldier is under investigation for the stunt. “We are aware of the video. Anyone who is found to fall short of the army’s high standards can expect to face appropriate action,” a spokesman told the paper.
The nearly 3:30 clip shows the soldier walking outside the Queen’s palace along a wall near his sentry box, sometimes stopping to pick things up, at other times stopping with his foot in mid-air for a few seconds. At a couple of points, he even does some pirouettes, and tourists watching are quite amused.
“Have you seen them do that before?” a tourist asks in the video, as another responds: “It’s just that one, he’s messing around a bit.”
For more and video: http://www.businessinsider.com/buckingham-palace-guard-video-2014-9#ixzz3CYzIBiZd
Post-acquisition layoffs at Cayman Television provider WestStar
By Kevin Watler From Cayman27
Layoffs today (Friday, 5 September) at Weststar after the news that Logic Cayman has acquires the television and internet provider.
A number of employees were made redundant, three in executive management positions.
Logic management says it is unable to comment on the matter today, but plans to do so in the near future. Bermuda based KeyTech confirmed the purchase of WestStar Wednesday afternoon.
The acquisition means Logic is also the owner of [CITN/]Cayman 27.
For more: http://www.cayman27.com.ky/2014/09/05/post-acquisition-layoffs-at-weststar
Young Caymanian doctor hired at Health City Cayman Islands
Dr Irka Lashany Ebanks from West Bay has started work at Health City Cayman Islands (HCCI) on September 1st, after finishing her internship in Jamaica last June.
After returning to Cayman having spent five years taking her medical degree at the University of the West Indies, she found there were no positions with the government Health Services Authority. However, they recommended her to HCCI and liaised with the private hospital’s administrators on her behalf.
She said HCCI, situated at East End is “a gorgeous facility” and noted the forward thinking integration of information technology.
“It’s a privilege to work here and, as the first Caymanian physician, I feel there are great expectations from me,” she said.
HSA Critical Illness Symposium for Cayman healthcare professionals
All Cayman Islands registered healthcare professionals are invited to a Critical Illness Symposium: From Primary Care, through Accident and Emergency to Intensive Care, hosted by the Cayman Islands Health Services Authority (HAS) and sponsored by Tenet Healthcare.
At: Westin Grand Cayman
Friday September 12 | 8am – 4:30pm
Saturday September 13 | 8am – 10:40am
This medical symposium will provide an educational platform for locally registered healthcare professionals and is offered free of charge. There will be sessions aimed at managing acutely sick adults and children, as well as lectures on sudden deteriorations in mental health. This educational symposium will bring together neurologists, intensive care physicians, paediatricians, psychiatrists and cardiologists from the US, the UK and Cayman.
More detailed information about the speakers to follow.
FIFA official Canover Watson arrested on corruption, money-laundering charges
By Giuseppe Labellarte, from Sports Mole
A member of FIFA’s financial watchdog has been arrested in the Cayman Islands on suspicion of corruption and money-laundering.
Canover Watson, part of FIFA’s audit and compliance committee, has denied the allegations.
According to Sky Sports News, the 43-year-old made a statement to local media which read: “I make this brief statement following my arrest in relation to suspected offences contrary to the Anti-Corruption Law.
“The allegations are denied. In due course, at the proper time and in the appropriate forum, I look forward to setting out my position in greater detail.
“I have been advised by my attorneys that it would be inappropriate for me to make further comment.”
Watson is also vice-president of the Caribbean Football Union.
For more: http://www.sportsmole.co.uk/football/news/fifa-official-arrested-in-cayman-islands_175245.html
See also iNews Cayman story published August 31 2014 “Former Cayman Health Services chairman and YCLA winner arrested” at: http://www.ieyenews.com/wordpress/former-cayman-health-services-chairman-and-ycla-winner-arrested/
‘Time’ puts Mariah Carey on top in ‘ultimate pop stardom’ ranking
By Ariana Bacle From Entertainment Weekly
Miley Cyrus might make more headlines than Mariah Carey—but if we’re talking ultimate pop stardom, Mariah wins. (Surprise.)
Time looked at every song that’s been in the Billboard Top 10 since 1960, the number of hits by each artist present on that list, and how long those musicians’ careers have lasted, and used that information to determine which artists are ultimately the most successful pop-hit generators. The final product is a colorful infographic that proves Michael Jackson had a consistently successful career from 1971 to 1995, while Santana’s career, though long, hasn’t been witness to nearly as many hits.
The artists are awarded points for each song of theirs that made it into the Top 10—for example, Michael Jackson gets 10 points for “Beat It” topping the chart at No. 1 while while Taylor Swift gets three points for “Speak Now” peaking at spot No. 8.
Usher had the best single year out of everyone when, in 2004, he racked up 639 points for having five songs in the Top 10 for a combined 88 weeks, while Barbra Streisand made just two points in 1997 for “I Finally Found Someone,” which peaked at No. 9 and only had a one-week stay in the Top 10.
Head over to http://time.com/music-ranking/ to see how other musicians, ranging from Cher to T-Pain, stack up against one another.
Image Credit: Tyrone Lebon
For more: http://music-mix.ew.com/2014/08/28/pop-stars-charts/
Conyers provides Cayman advice to MSPEA on privatisation of Noah Education Holdings
Conyers Dill & Pearman has provided Cayman legal advice to Morgan Stanley Private Equity Asia (MSPEA) Education Holding on the $107.4m (£65m) privatisation of Noah Education Holdings from the New York Stock Exchange.
Noah Education provides education services for children in China, focusing on English language training, high-end kindergartens, primary and secondary schools and supplemental education.
The transaction was financed by rollover equity from existing shareholders and fresh equity and debt capital provided or arranged by MSPEA.
Conyers partner and co-chairman David Lamb and associate Angie Chu based in the law firm’s Hong Kong office advised on the matter, working alongside Skadden, Arps, Slate, Meagher & Flom.
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