Published on Mon Jan 31 07:00:00 GMT 2011
http://www.iomtoday.co.im/news/isle-of-man-news/no_safe_haven_for_money_laundering_1_2985151

THE detective who led the Jenny Holt inquiry said the verdict would send a clear message that the island should not be seen as a safe haven for money

laundering.

Detective Sergeant Lynne Skelly of the Isle of Man Police Financial Crime Unit, said: ‘It is one of the aims of the Financial Crime Unit to ensure the

island is a safe place to do business.

‘The legal profession and trustees are key players in ensuring that the Isle of Man has a positive financial reputation.

‘This conviction sends out a strong message to the international financial community that the island will not be seen as a safe haven for money laundering.

I am pleased that the case has resulted in a successful conclusion.’

Meanwhile, Trevor Baines has admitted five counts of theft in relation to £770,000 stolen from Hermitage Securities Limited and Euros 43,383.95 from Henry

Charles Taylor.

His wife Wendy Nicolau De Almeida Baines has also pleading guilty to the theft of £400,000 from Hermitage Securities Limited.

Detective Sergeant Skelly said: ‘This was a serious breach of trust by Mr and Mrs Baines who stole considerable funds from client bank accounts under their

control.

‘Trustees are key players in ensuring that the Isle of Man has a positive financial reputation. This conviction sends out a strong message to the

international financial community that the island will not tolerate such criminal conduct.’