Financial Crimes Unit and CDU arrived in Nassau with some 16 persons suspected to be a part of a major fraud ring at NIB!

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ANDROS| Central Detective Officers of the Royal Bahamas Police Force this week targeted a gang on the island of Andros that is alleged to have defrauded the National Insurance Board of over $200,000.

BP can confirm police landed on the island on Thursday, arresting the suspects who allegedly defrauded the Board by submitting Unemployment Benefits when indeed they were employed.

The alleged ring were aided by an NIB employee who have since been separated from the Board, along with a second employee who was located on New Providence.

This evening CDU and the Financial Crimes Division brought into New Providence three planes with some 16 persons who will be charged this coming week. 

In the group of suspects is a girlfriend of the former NIB Manager. 

Slackness with the systems at the NIB headed by a weak Minister and an inexperience Board have led to a dangerous lack of checks and balances of best practices at the Board! Something needs to be done at NIB! And we believe the challenges will get worse as the weeks and months come.

In the sights of detectives is another big fish. Investigators tell BP they have on their radar a big-time Customs Officer who they believe was a part of the ring. 

BP since last month warned the Bahamas Customs Head of a major Fraud occurring at its Cargo Division at the LPIA which has experienced a major drop in revenue since the first quarter of the year. We hope the Financial Crimes Unit and CDU follow our lead. 

We report yinner decide!