Two Caribbean-based bankers— one American, the other Canadian—and their Canadian lawyer have been arrested as part of a Department of Justice and Internal Revenue Service sting operation, the FCPA blog reports. The DOJ reported Monday that the three defendants were arrested in Miami on March 12 for conspiracy to launder money.
According to the DOJ announcement, U.S. citizen Joshua Vandyk and Canadian Eric St-Cyr lived in the Cayman Islands and worked for an investment firm called Clover Asset Management, which St-Cyr founded. Canadian lawyer Patrick Poulin was a partner at Bishops, a firm based in the Turks and Caicos.
