Cayman Islands Premier arrested in corruption probe

From Cayman News 27:

The Premier of the Cayman Islands, McKeeva Bush, 57, has been arrested and is currently detained in police custody in connection with a number of ongoing police investigations.

“Officers from the RCIPS Financial Crime Unit arrested Mr. Bush at around 7 a.m. Tuesday morning (11 December 2012) at his home in West Bay.”

Mr. Bush has been arrested on suspicion of theft, in connection with financial irregularities relating to the alleged misuse of a government credit card Breach of trust, Abuse of office and Conflict of interest, contrary to S13, S17 and S19 of the Anti-Corruption Law 2008 respectively. In connection with the alleged importation of explosive substances without valid permits on or before February 2012.

More from Cayman Compass here. Something's rotten in the state of offshore finance. We have always noted the contrast between the theatre of probity that tax havens put on, as as they strut the international beauty parade to attract international capital, and the real murkiness that goes on behind the scenes (Jersey anyone? Turks and Caicos?) And if anyone argues that this is yet another case of 'just a few bad apples' in an otherwise clean Cayman, then there's always this can of worms (more here).