FROM THE - CHRONICLES Of Andrei Slavenkov Netherlands – Analyst For Wanted SA ~ Contributed & Written By Kenneth Rijock ~
VICTIM OF CAYMAN GANG OF FOUR SUES RINGLEADER SHARON LEXA LAMB AND DUNDEE BANK
A retired Canadian attorney, and former Queen's Counsel, has brought what appears to be the first civil suit, in Grand Cayman, against Cayman resident Sharon Lexa Lamb, accused of being the leader of the financial fraudsters known as the Cayman Gang of Four, and Dundee Merchant Bank, for damages, and for equitable relief. Ms. Lamb was the Senior Vice President & Director of Dundee Merchant Bank, also known as Dundee Bank*.
The victim has lost several million dollars, which was held by Dundee Bank; Lamb has admitted that the funds were transferred to B & C Capital Ltd., a shell company, which was misrepresented, in writing, to be a financial institution.
Thereafter, the fugitive trader at B & C, Ryan Bateman took possession of the plaintiff's life savings; he converted them to the personal use and benefit of the Cayman Gang of Four, a criminal organization, whose members are Lamb, Ryan Bateman, Derek Buntain, and Fernando Mota Mendes, all of whom are affiliated with B & C Capital, Ltd.
The Cayman Islands Monetary Authority, reportedly has estimated victims' losses at USD $450m-$500m, due to the fraud and theft, in the massive trading scam. Some victims received a small percentage of the trading profits, which the Gang of Four retained the balance, and later stole the entire principal.
(1) Breach of Fiduciary Duty
(2) Breach of Duty to Return Property
(3) Failure to Provide Access to Documents.
The complaint alleges that the defendants, after actions were allegedly ordered, to surrender the banking and securities licenses of Dundee:
(A) Violated their fiduciary duty to the plaintiff.
(B) Have failed to account for his assets, after demand was made.
(C) Have failed to pay him interest upon his assets.
(D) Have failed to return the books, records and account documents, of plaintiff's corporation.
(E) have failed to account for all transactions entered into on his behalf.
(F) have failed to act honestly, in good faith, and in the best interests of the plaintiff.
Other parties not yet named as defendants, including, but not limited to, Ryan Bateman, Fernando Mota Mendes, Derek Buntain,and B & C Capital, Inc., are expected to added as additional defendants at a later time. In addition, a civil suit is in the final stages of preparation in Canada, against a number of the parties; a demand letter has reportedly been delivered to those parties, and the time for reply has expired.
Other victims are seeking litigation counsel in Grand Cayman, for the purpose of bringing actions of their own. A number of criminal complaints are pending with the Cayman Islands Royal Police Service, and civil complaints with the Cayman Islands Monetary Authority (CIMA).
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