Premier McKeeva Bush of the Cayman Islands was arrested Dec. 11 on suspicion of corruption over misuse of a government credit card and importing explosives without a permit, according to news reports.
As of press time a week after his arrest, Bush denied any wrongdoing and refused to step down, blaming his problems on Gov. Duncan Taylor, who was appointed by Britain’s queen. Police did not detail the charges of theft. Bush was free on bail.
Bush was elected in 2009 as premier of the Cayman Islands, a British Overseas Territory with a population of 55,000 people and a global tax haven, according to a Reuters story. The islands are home to most of the world’s hedge funds, offering both tax advantages and financial secrecy for companies and investors, the wire service reported.
Bush also holds the position of minister of finance and tourism. He is the longest-serving member of the Caymans’ Legislative Assembly and was first elected in 1984.