Political Patronage, Regulatory Capture, and the Collapse of a Grenadian Bank
Capital Bank International Limited represents one of the Caribbean's most egregious examples of regulatory capture, political patronage, and financial fraud. Licensed in 1996 by Grenada's Minister of Finance Keith Mitchell despite not meeting regulatory criteria, the bank operated for over a decade with inadequate oversight before collapsing in 2008. The bank's founder, Finton De Bourg—a major political donor and NNP party supporter—was convicted in 2016 on six counts of fraud and sentenced to 23 years in prison, with restitution ordered for EC$166.3 million.
Loading...
Loading resources...
Explore other landmark Caribbean judicial management cases with similar themes and challenges
A 15-Year Judicial Management Journey
Key Themes:
Regional Airline Judicial Management
Key Themes:
Multi-Jurisdictional Coordination
All three cases involved complex coordination across multiple Caribbean jurisdictions with different legal frameworks and regulatory authorities.
Illiquid Asset Challenges
Each case faced significant challenges in realizing value from illiquid assets including real estate, aircraft, and related-party receivables.
Stakeholder Impact
Thousands of stakeholders—policyholders, employees, creditors—experienced significant financial hardship and uncertainty throughout the proceedings.