US fraudster used stolen cash for Cayman home

(CNS Business): A Kansas City man who admitted embezzling over US$6.5 million from his bosses, also used some of his ill-gotten gains to buy a pricey beach house in the Cayman Islands using Cayman National Bank, according to a release from the US Attorney’s Office for the Western District of Missouri. Douglas Ferrell (34), who appeared in court last week charged with wire fraud and money laundering, stole the cash between 2006 and 2014 when he was working at Scarbrough International, a privately owned US customs broker and international freight forwarder.

Read more and comment on CNS Business