Russell-Cooke successfully represented defendant in a serious fraud case brought by the Turks & Caicos Island Government.

The Turks & Caicos Island Government alleged that an $18 million fraud had taken place when a value was dishonestly understated in Stamp Duty, avoiding nearly $2 million worth of tax.

In a trial that lasted 21 days, Peter Cadman, partner in the professional regulation team at Russell-Cooke, worked alongside Jim Sturman, QC of 2 Bedford Row, to act for the defendant during the trial.  In order to successfully act for the defendant under local legal requirements, Peter was admitted as an Attorney in the Turks & Caicos Island (TCI). They were supported in the UK by Matt Bosworth, partner and Amy Rudolph, associate, both in the regulation team.

The defendant had acted for an American billionaire in the purchase of Emerald Cay which was being sold by another billionaire. The matter was prosecuted by the Special Investigation Prosecution Team on behalf of the Director of Public Prosecutions of TCI. The Special Investigation Prosecution Team is a UK appointed investigative and prosecuting team largely involved in ongoing investigations and prosecutions of allegedly corrupt local politicians.

After 28 hours of deliberation (this is the first occasion in which a jury in the TCI has sequestered overnight) the jury of seven returned with a unanimous verdict of not guilty on all allegations.

Peter Cadman, comments on the case “This was a challenging retainer over a four year period involving rigorous preparation and careful presentation that ultimately led to an acquittal and vindication of our client".   

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