The Financial Investigation Unit of the Royal Anguilla Police Force is currently assisting authorities from Demark, now in Anguilla, in the pursuit of a money-laundering case which arose from insider trading offences in the United States and in Denmark.

Inspector Andrew Arsenault

This was announced by Inspector Andrew Arsenault at the police press briefing on Wednesday. He said that as part of the Danish authorities’ investigations it was found that some of the money ended up in Anguilla thus leading to the involvement of the Financial Investigation Unit. “Currently we have restrained on their behalf 1.1 million US dollars and the case is ongoing,” he said. “They have a gentleman by the name of Jeans Christian Frandsen who is allegedly involved in the insider trading in Denmark and principally in the US.”

Inspector Arsenault stated that in the event that Frandsen should be convicted, Anguilla may benefit from half of the money in the sharing of the restrained assets, now at one of the island’s banks. He said that it was expected that the matter would go on for sometime through the courts.

“If there is a confiscation awarded by the courts in this matter, and assuming that the 1.1 million was confiscated lawfully, it is conceivable that half of that money will come back to Anguilla and will go into the Government’s general revenues,” he said.

Replying to a question, the Inspector said that the alleged illegal transaction was made by using a US office and a Danish company trading on the Stock Exchange. The original amount was approximately 1.5 million US dollars but by the time the restraining order was put in place in Anguilla the sum was 1.1 million.

He said there were three Danish authorities in Anguilla investigating the matter. Two of them are Law Enforcement Officers and the other is a Prosecutor.

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