13 Oct 2006

Vanuatu labelled uncooperative in fraud case

2:33 pm on 13 October 2006

An international receiver firm says Vanuatu continues to be unco-operative in attempts to recover stolen money from an offshore bank based in the country.

Robb Evans & Associates has been tasked by the US Federal Court to recover money stolen from international investors through credit card fraud, dating back six years.

Eight million US dollars of it was transferred from the European Bank in the Cayman Islands, which has now been closed, to the European Bank in Vanuatu.

The company's director Robb Evans says attempts to discuss recovering the money with the Vanuatu government and the European Bank have been stonewalled.

"But with all the international attention on money laundering issues and terrorist financing and the like, most governments are eager to do what they can to solve such matters as quickly as they can. In this case, we've just been stonewalled for years."

Robb Evans says they've asked for meetings with Vanuatu officials on many occasions, and are still hoping to work towards a solution with the Vanuatu government.