The man who was arrested last Friday (1) for white-collar fraud has been named as 57-year-old Michael Levitt.

Levitt was employed by the local legal firm of Solomon Harris, who are based in George Town, as money laundering reporting officer and compliance officer for them and also Solaris

Corporate Services Ltd, a corporate service arm of the same law firm. Levitt was former president of Rotary Sunrise.

Solomon Harris confirmed to the media that “an irregularity” was identified in its accounts during its standard financial reporting procedures. The firm said the irregularities appeared to have been at the hand of its former employee, Michael Levitt.

Managing Partner, Sophia Harris, said, “We want to assure our clients that no clients have been impacted and that this is an internal issue only. Solomon Harris had its strongest ever financial performance last year and this matter in no way affects the firm’s ongoing growth.”

The firm said it would be aggressively pursuing the fraud that appears to have been perpetrated against it.

Levitt was arrested of fraud related offences but was later released on police bail.

There has been no confirmation of the actual amount of the fraud related offences although CNS have reported it involves “tens of thousands of dollars”.