Specifically, the investigations are looking into possible misuse of a Government credit card, possible breaches of “trust, abuse of office and conflict of interest”, in violation of anti-corruption laws, and the alleged importation of explosive materials without the appropriate licence, the Royal Caymans Islands Police Force said on its website.
Bush, who took office in May 2009, was arrested at his home around 7am Tuesday morning, and “placed on overnight police bail” following a series of interviews, the RCIPF added. He will return to face further questioning on Wednesday morning.
Bush’s arrest comes at a time when offshore financial centres are under unprecedented attack for their perceived role in enabling individuals and companies to avoid and evade taxes, and helping criminals to hide and launder money.
Cayman specialises in hedge funds, although it is also the base for thousands of companies, large and small. The offshore financial services industry represents about half of the island’s economy, which is also heavily dependent on tourism.
