A Jamaican has been sentenced to eight years in the Cayman Islands after being found guilty of massive fraud involving four hedge funds.
Robert Christopher Girvan was handed the prison term by Justice Alex Henderson at the conclusion of his two day sentencing and confiscation hearing on Tuesday.
Girvan, the former director, trader and fund manager of a collection of four Cayman Islands based hedge funds from which he stole more than $19 million, had pleaded guilty to over 21 counts of theft, fraud and money laundering.
The offences occurred between 2004 and 2009 when Girvan was the portfolio manager of a number of funds established by his business partner.
Justice Henderson said Girvan appeared to have had a free hand over the funds and raised money from people with the promise of impressive returns.
The Jamaican man later falsified bank statements and other documents, forged signatures of his business partner and transferred money through a complex web of accounts.
Along with the millions which Girvan transferred into accounts for unauthorized trading, significant sums were also transferred to his personal accounts and used for real estate investments.
Of the almost $19 million that Girvan stole, $9 million was lost in unauthorized trading.
The judge made a deportation order for Girvan to be returned to Jamaica at the end of his sentence.
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