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Article: Court drops case against fifth suspect in Cayman Islands money laundering case
- Article from:
- AP Worldstream
- Article date:
- April 4, 2003
CopyrightProvided by ProQuest LLC. (Hide copyright information)
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Dateline: GEORGE TOWN, Cayman Islands
Prosecutors on Friday dropped charges against a man suspected of helping
his son scam thousands of credit card users by laundering money through
a bank in the Cayman Islands.
Melvin Edward Taves, 83, was acquitted because of his age and his
cooperation in returning funds to victims of his son's scheme, Senior
Crown Council Cheryl Richards said.
Taves' son, Kenneth, is serving prison time in the United States in
one of the largest credit card scams in history. The U.S. Federal
Trade Commission in 2000 found he had bilked US$37 million out of
more than 800,000 credit card owners by signing them up for pornographic
Web sites.
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