Local property investor charged with fraud

Lewis Ebanks

(CNS): A local business man appeared in Grand Court Friday facing fraud-related charges in connection with a property deal. Lewis Ebanks appeared in the dock for a matter of minutes, as the case was adjourned until 20 March after his attorney, Michael Snape, told the court that no indictment or details of the charges had been served. Ebanks was arrested and charged last year with making a false document regarding a deposit for a property in February of 2012.

He is alleged to have written a letter to a local high street bank claiming a deposit of CI$23,750 had been paid to his company, Empire Development, in connection with the purchase of a property, which the authorities claim was untrue. Ebanks has not yet answered any charges in the case, which was transferred from Summary Court last month.

A Caymanians developer and investor, Ebanks recently broke ground on a much-anticipated US$200 million oceanfront development of over 120 luxury condos, as well as town houses on the North Sound coast close to the golf club.

Gran Palazzo is expected to be built over the next five years and has government support with a number of concessions, as the project is expected to create over 200 jobs and inject millions of dollars into the local economy.