STEPHON GREY
PUBLISHED CASE CITATIONS
An authoritative record of judicial decisions in which Stephon Grey’s expertise in forensic accounting and audit has been formally cited.
Case Citations
The following are some case citations for Mr. Stephen Grey. Limited to media and court references and articles.
Law Enforcement & Audit Institutions Mentoring Citations
- The GiZ (Deutsche Gesellschaft für Internationale Zusammenarbeit) GmbH commissioned by the German Federal Ministry for Economic Cooperation and Development (BMZ) to implement a global programme for Combating Illicit Financial Flows (GP IFF) for the period 10/2021-09/2024.This programme sort to strengthen the global, regional and national systems for fighting illicit financial flows by strengthening the capacities of national and regional partners in the areas of prevention, financial investigation and asset recovery in five regions: Eastern Africa (Kenya), Northern and Western Africa (Tunisia, Senegal, Ghana), Latin America (Peru), and Western Balkans (Albania, North Macedonia, Montenegro, Kosovo, Serbia and Bosnia and Herzegovina) and in Europe from Germany. Mr. Grey served both as a member of the programme’s Steering Committee and as an expert facilitator and mentor facilitating Assets tracing and Forensic accounting sessions at the 5 day training workshop held in Ghana at the Airport View Hotel, Accra, from 24 – 28 June 2024 and in Kenya at the Boma Hotel, Nairobi, Kenya 4 – 8 March 2024.
- Tax Evasion, Money Laundering and Corruption The Anti-Corruption & Asset Recovery Conference at the Sugar Beach Resort, Mauritius, June 7, 2024 Stephon Grey spoke at the on anti-corruption and anti-bribery issues, under the auspices of the International Bar Association’s Anti-Corruption Committee conference.
- Commonwealth Caribbean Association of Integrity Commissions & Anti-Corruption Bodies 10th Annual Commonwealth Caribbean Association of Integrity Commissions & Anti-Corruption Bodies (CCAICACB) Conference to be held in the Commonwealth of The Bahamas 10th June, 2024.Mr. Grey presented on the topic Conducting Effective Cross-Border Investigations
- Bureau of International Narcotics and Law Enforcement Affairs and the U.S. National Center for State Courts
Mr. Grey served as the regional expert assigned to provide training consultancy to members of the Caribbean Financial Crimes and the Financial Intelligent Units from Guyana, Grenada, Trinidad & Tobago, Dominica, Barbados, St. Kitts, St. Vincent, Bahamas, Antigua, and Jamaica. The Financial Crimes Team, based in Bridgetown, Barbados, is funded by the U.S. Department of State’s Bureau of International Narcotics and Law Enforcement Affairs (INL) as part of a three-year Caribbean Anti-Crime Program. - Inter-American Development Bank (IDB)
Engaged as Consultants by the Inter-American Development Bank to undertake the development of the forensic audit capacity within the Supreme Audit Institutions (SAIs) ofthe Republic of Guyana and of Jamaica. The consultancy addressed the performance gaps of the Special and Performance Audit teams, with emphasis placed on the identification of systemic risks and fraudulent activities, forensic auditing techniques, approaches, and court proceedings. Additionally, the engagement developed a customized curriculum and trained shortlisted SAI Staff, so as to equip them with the knowledge and skills to enable them to carry out forensic audits and special investigations. - Inter-Agency Law Enforcement Task Force of Guyana – In 2017
Mr. Grey led CIFA in the provision of training at the Law Enforcement Training Series on Asset Recovery and Financial Investigations, which was hosted for the Special Organised Crime Unit (SOCU), the Financial Intelligence Unit (FIU), the Guyana Revenue Authority (GRA), the Bank of Guyana, the Customs Anti-Narcotic Unit (CANU) and the Ministry of Finance. - State Asset Recovery Agency (SARA) of Guyana
– Developed a training curriculum and provided specialized training to the staff selected to set up the newly formed State Asset Recovery (SARA) Agency, to enable them to successfully conduct assets tracing exercises.
– Stephon served as the Case Mentor on Asset Tracing & Recovery Investigations on six (6) cases for court on behalf of the State Asset Recovery Agency (SARA) of Guyana.
- Special Organised Crime Unit of Guyana (SOCU)
– Stephon served as the Case Mentor to the Special Organised Crime Unit of Guyana (SOCU) in a case of misappropriation of GUY$639.4M, belonging to the state, by Guyanese Parliamentarian and a former Personal Assistant, who are now facing 24 simple larceny charges. https://guyanachronicle.com/2016/03/01/dr-jennifer-westfords-fraud-case/
– Stephon served as the Case Mentor in the Omar Shariff investigation; it was alleged that over $500M could not be accounted for in payment to the Public Service Ministry. Investigators found several large sums passing through bank accounts and launched a separate probe. https://www.kaieteurnewsonline.com/2017/07/07/socu-head-testifies-in-omar-shariff-trial/
Private, Public Sector & Litigation Case Citations
- CCJ Case AG/N/OJ2021/001
Stephon currently is providing an Independent Assessment and Forensic Auditor & Expert Witness analysis in support of the CCJ Case AG/N/OJ2021/001 between Ellis Richards,bMedical Benefits Board, Spencer Thomas, (Claimants – British American Insurance Company Limited and Colonial Life Insurance Company Limited Policyholders Group of Grenada, a non-profit company incorporated in the State of Grenada “BACOL” and the State of Trinidad and Tobago (Respondents). The lawsuit brought by British American Insurance Company Limited and Colonial Life Insurance Company Limited Policy Holders Group (BACOL) for fair and equitable compensation against the Government of the Republic of Trinidad and Tobago, the value of the claim is estimated at 800 million XCD. https://www.thenewtodaygrenada.com/press-releases/bacol-files-legal-action-atthe-ccj-to-compensate-british-american-policyholders/
https://thevoiceslu.com/2021/10/bacolgranted-special-leave-to-file-claim-after-trinidad-and-tobago-withdraws-objection/ - Estate Management Business Development Company (EMBD)
Served as Engagement Manager under PwC for the forensic audit conducted at the Estate Management Business Development Company (EMBD), where the State has filed a $200 million fraud claim against contractors. http://www.trinidadexpress.com/20171016/news/200-million-fraud-claim-state-goes-aftermoonilal-cartel-contractors - Housing Development Corporation (HDC)
Served as Lead investigator for the forensic investigation into the purchase of land for the Eden Gardens project. The state has since filed a civil suit in the courts after the investigations raised concerns as to why the value of a 50-acre parcel of land at Eden Gardens in Freeport was purchased by former HDC Directors at a cost of $175 million instead of open market value at $52 million when valuated. http://www.ctvtt.com/ctv/index.php/c-news/news/item/49769-government-files-3-corruptionmatters-in-high-court-cases-arose-under-last-administration - .State Telecommunications Sector
Conducted (3) major Contract Audits into the contract and procurement operations of state vendors, which revealed, millions of US$ in procurement fraud schemes. - First Citizens Bank
Served as a sub-contractor to Kroll UK ltd, in a case where the National Energy Corporation (NEC) officials discovered millions of dollars missing from its USD Account. Money was transferred to Bank accounts in Boston, Antigua, Dubai and Guyana. Approximately US$4.6million was recovered by the state bank from foreign financial institutions. Approximately US$5.0 in overseas bank account was frozen. https://www.trinidadexpress.com/news/THE_GREAT__6Om_CON-133665413.html - State Procurement Sector
Appointed to conduct a forensic and investigative audit into Irregular and suspicious Transactions within the Central Stores Pharmaceutical Division. - State Sporting Sector
– Conducted a Forensic Examination Review & Reconciliation of Operations at cash collection points throughout sporting facilities.– Conducted a contract and procurement forensic audit, into, construction works, the results from this independent review revealed (47.75%), in contrast to 78% of the
contract sum being paid. - State Health Sector
Conducted a cost recovery audit into the Security Services Expenditure. The examination revealed millions of US$ was mis appropriated in an overbilling scheme. - State Labour Sector
Conducted a special investigation into the expenditure of state funds, which revealed ghost payments to 522 red flagged individuals, amounting to millions of $US dollars. - The Grenada National Stadium (Grenada)
Served as the Forensic Auditor on behalf of the liquidator for ICS (Grenada) LTD. Re: “The Grenada National Stadium controversy” This multi-million dollar matter surrounding the structural collapse of a football and athletic stadium was heard in theInternational Court of Arbitration and the High Courts of Grenada. Asset Tracing identified Cash and Offshore Bank Accounts. http://www.belgrafix.com/gtoday/2005news/Jan/Jan29/BadWorkResponsible.html - National Insurance Board (Grenada)
Conducted a forensic examination on the misappropriation of public funds using fictious grant recipients, which led to the arrest and charge to a Mr. Raymond Beggs, by the Financial Intelligence Unit of Grenada. http://thenewtoday.gd/local-news/2013/01/04/nis-employee-23-fraud-charges/#gsc.tab=0 - An International Airport
Executed the Internal Control Review, Examination and Process Re-Engineering of the financial & audit operations in accordance with International Standards. - BG Trinidad & Tobago (BGTT)
A former bank manager and his two sons appeared before a Port of Spain magistrate yesterday, charged with conspiracy to defraud British Gas of Trinidad and Tobago (bgTT) of in excess of $2 million last year. The court heard that on four occasions between the period January 4 and December 8, 2010, the three together conspired to defraud BGTT the sums of $410,965, $763,000, $585,000 and $525,000 respectively, amounting to a total of $2,283,965, being the proceeds of CitiBank http://www.trinidadexpress.com/news/Dad__2_sons_charged-118165079.html - US Energy Company
Served as a Financial Investigator, assisting in the enforcement of judgement award issued by the US District Court of Harris County, Texas, for USD$35,372,130, plus pre-judgment interest of USD$324,648.32, as well as an award granted in the United Kingdom for £9,052,132.69. - Federal Democratic Republic of Ethiopia: Metals and Engineering Corporation (METEC) Corruption Case.
Served as advisor to the Ethiopian Asset Recovery task force and provided the roadmap for the recovery of misappropriated assets in the METEC corruption case in Ethiopia. Thismatter involved a former head of military-run industrial conglomerate METEC, who was arrested and charged along with other employees of METEC. They were charged with wasting 554 million Ethiopian birrs of public funds (US$20 million) on unwarranted repairs and administrative costs in the procurement of ships from state-run Ethiopian Shipping and Logistics Enterprise. https://www.reuters.com/article/us-ethiopiametec-idUSKCN1P820K