ST. KITTS-Police arrest three people in a multi-million-dollar money-laundering and fraud case.

BASSETERRE, St. Kitts, CMC – Police have charged three people with several counts of money laundering and fraud in an alleged financial scheme totaling US$50 million and spanning nearly six years.

In a statement, the police said that Paul Bilzerian, Terri Steffen, and Gregory Gilpin-Payne were each charged with money-laundering and fraud offenses committed between November 2018 and July 2024.

They said that during that period, the accused, together with others, is alleged to have conspired to obtain US$50 million by means of pretenses and subsequently to launder the money.

According to the police statement, on June 18 this year, Bilzerian was charged with money laundering by transaction, conspiracy to commit money laundering, pretense, and conspiracy to commit pretense.

The police said that Steffen has been charged with conspiracy to commit money laundering, while Gilpin-Payne is facing charges of money laundering by transaction, conspiracy to commit money laundering, and conspiracy to commit pretense.

They said that the investigations into the matter are ongoing and “highly commend the White Collar Crime Unit for its work in bringing this matter to this stage, and reaffirm the Federation’s unwavering commitment to combating financial crime in all its forms.

“ St. Kitts and Nevis will not be used as a vehicle for fraud, pretense, or the laundering of criminally obtained funds, and the Force will continue to pursue all such matters with the full force of the law,” the police statement warned.