News & Current Affairs - Tuesday, November 11, 2008 18:07
$1.4 million in cash stolen from the Central Bank of Barbados
By Kathy Lehay, Staff writerWhat is believed to be a massive theft has taken place at the Central Bank.
About $1.4 million comprising brand new $100 notes has disappeared from the top financial institution located within the Tom Adams Financial Centre, Church Village, in The City.
The Central Bank went public yesterday about the missing $100 notes, adding that police had been called in to investigate what could be the island’s biggest heist.
The sum missing was not disclosed by the bank, but sources close to the investigation confirmed that the missing amount was more than $1 million.
According to the statement from the bank, the $100 notes bore serial numbers ranging from E22515001 through to E22517000, E22521001 to E22522000, E22525001 to E22529000 and E22530001 to E22537000.
The money was discovered missing on October 30, 2008.
Stressing that the notes might already be in circulation, the Central Bank called on the public to help solve the matter.
“Members of the public who come into possession of any of the notes with serial numbers in the range indicated above should not negotiate the notes, but bring them directly to the Central Bank. The bank will exchange the notes for other new notes,” it said.
Promising to keep the public abreast of any further developments in the matter, the bank said it was advised “to exercise some restraint in releasing more detailed information at this time, so as not to compromise the investigation”.
In light of this incident, the Central Bank said it had launched an “immediate audit and evaluation of the systems and processes currently being used”, and was “conducting a full assessment of the circumstances surrounding the disappearance of the notes”.
Update 19/11/2008: Corey Rock, a vault attendant aged 25 of Ashton Hall, St. Peter has been charged in relation to this case… See related news story
Update 21/11/2008: Shawn Durand Hurst and Shawn Antonio Rollins, 21 and 35 years respectively, have been charged with handling stolen property and money laundering… See related news story
Related articles:
Kathy Lehay · Montego Bay, Jamaica
A Barbados-born, Jamaica-resident social worker and feminist, Kathy Lehay is an independent care worker and gender specialist who provides one-on-one skills training and social support for disadvantaged women and families in Jamaica. She holds an MA Gender Studies and BA Social Work.kathy@antillean.org
8 Comments
CA from London, United Kingdom
Garry from Saint Michael, Barbados
It is an amazing story so much money going missing from the Central Bank and they dont seem to have a clue as to how to it happned or how much of the cash is actually in circulation. I think this story has the potential to make a good story for a movie, when all or should I say if the facts ever come to light.
The Barbados Blog
Liz from Saint Michael, Barbados
How many people have keys to The Central Bank vaults?
Russel M. from London, United Kingdom
Liz, this is taken from another forum from somebody who apparently works at the Central Bank…
“The vault in the central bank is such that no one person can ever get into it alone. Different combinations must be entered simultaneously. It’s also on a time-release – the combinations (which change periodically) only work during a certain time period on certain days, and short of blasting a hole in the side the building, there is no way to get into the vault outside of those times. if you get locked in, tough beans. NO ONE, not even the governor, is allowed inside the vault without clearance. No bags are allowed to be carried inside, period. So how did $1.4 M go “missing? “
Observer from London, United Kingdom
A young man has been in custody for this since day 1, but the media is not reporting on it, perhaps because of the standing of his father. Please note I did not call any names and this is not libelous.
linnette M from Saint Michael, Barbados
This is mighty strange to me. How much experience does he have that he was entrusted with such a posotion. Are there no periodic and unplanned checks. At good old Barclays Bank PLC we used to call them snap checks. without any notice the manager would summon the vault custodians and a check would be done. It would appear to me that something is seriously wrong with the procedures at the CBB. How was this moved out with out being noticed? When money is going to the CBB there is police both at the front and back of the convoy , and the section of Roebuck Street that is one way normally is used for travel in the opposite direction so that minimum time is used to transport the cash. What is the point of police taking such care to get it there safely? if measures are not in place to protect once on sight.Maybe Central Bank inspectors need to do some internal work, and not just visit commercial banks every whatever the period is to ensure they are following CBB regulations. This is as good a time as any to revise their procedures
Russel M. from London, United Kingdom
This isn’t the first time the chap has had a run in with the law and he apparently was a vault attendant. Shocking that this could happen at the CENTRAL BANK of all place. Rumours abound about money going missing during Barbados’ last “earthquake”.
Anonymous from Saint Michael, Barbados
Am I correct in thinking that the Central Bank is similar to our Federal Reserve in the states?
No u r not correct
Leave a Reply
- Constitutional reform referendum defeated in St. Vincent & the Grenadines
- On World AIDS Day 2009, sexual minorities are still criminals in the Caribbean
- Barbados school boys allegedly beaten by teacher, caught on tape
- Guyana’s President Bharrat Jagdeo nominated for Nobel Peace Prize
- Barbados: School teacher shown in shocking video says it was only a prank
- Referendum day on monarchy, constitutional reform in St. Vincent & the Grenadines
- Jamaican government imposes new taxes ahead of holiday season
- Powerful 7.3 earthquake and aftershocks hit Haiti, tsunami watch issued
- Harpooning Caribbean tourism: Swallowing a dead rat
- Caribbean islands prepare to take in Haitian refugees
- Region in drought: the thirsty Caribbean
- I visited the castle in the late 60's and early 70's. I am greatly saddened by ...
- As a student from Australia, where i see the humpback whales every year on their...
- i have been to sam lords since 1991 when they had a shark and monkys there wow w...
- I spent a glorious week at Sam Lord's castle for my honeymoon back in the 80's a...
- umm...........im just like wtf!! :~P really teachers have no right to use corpor...
- we got married at sam lords castle in 2001 and have to say how wonderful it was ...
- Hello,
I stayed in this hotel back in the 1970's. I was a child. I recently vac...
- I used to love this place, had fantastic family holidays there 10+ years ago. I'...
- Bandwagonist
One Trinidadian blogger’s take on life, technology, entertainment and politics - Barbados Free Press
Unconventional citizen journalism on social and political happenings in Barbados - Barbados In Focus
Astounding photography by the talented Barbadian photographer Keith Clarke - Barbados Nation
Barbados’ most widely read daily newspaper - Blah Bloh Blog
Blog of a thirty-something, moderate-liberal, working single mother in Grenada - Caribbean 360
Aggregator of news and current affairs headlines in the Caribbean - Global Voices Online
A nonprofit, global collective of bloggers and citizen journalists - Jamaica Gleaner
Jamaica’s leading daily newspaper - Lullabies, Fairytales & Self-Delusions
The ‘must read’ blog of a prolific blogger from St. Vincent & the Grenadines - Project Diaspora
An advocacy blog made up of members of the African diaspora worldwide - The Good, The Bad & The LOL
A Barbadian’s entertaining take on the social, political and cultural currencies on the island - The Wisdom of Whores
Blog of HIV/AIDS specialist, Elizabeth Pisani - Trinidad Guardian
Trinidad & Tobago’s leading daily newspaper - Wuz De Scene
An entertaining though irreverent Trinidadian social commentary blog
CARICOM Affairs - Mar 13, 2010 14:30 - 0 Comments
St Lucia to begin public consultation on the Caribbean Court of Justice this year
More In CARICOM Affairs
- World Bank offers CARICOM debt assistance
- Harpooning Caribbean tourism: Swallowing a dead rat
- Region in drought: the thirsty Caribbean
- Disasters need more than prayers
- To OAS or not to OAS: That is the question
News & Current Affairs - Mar 14, 2010 20:37 - 0 Comments
Jamaica: Deadly Water Sold for Drinking
More In News & Current Affairs
- David Thompson’s cabinet reshuffled, again
- Region in drought: the thirsty Caribbean
- Professor Rex Nettleford is dead
- Caribbean islands prepare to take in Haitian refugees
- Powerful 7.3 earthquake and aftershocks hit Haiti, tsunami watch issued
OP-Ed & Features, Gender & Sexuality - Feb 6, 2010 14:07 - 0 Comments
The Caribbean, religion & the legislation of sexuality
More In Gender & Sexuality
- Barbados Family Minister says men deserve more legal rights to their children
- On World AIDS Day 2009, sexual minorities are still criminals in the Caribbean
- The same sex marriage debate: separating religious rites from civil rights
- Words hurt: is it time for hate speech legislation in Barbados?
- A Young Spin on an Old Tale: Youth and HIV/AIDS
Am I correct in thinking that the Central Bank is similar to our Federal Reserve in the states? If so, this is incredibly shocking!