BASSETERRE — Three people have been formally charged in connection with an alleged multi-million dollar fraud and money laundering scheme that authorities say unfolded over nearly six years in St. Kitts and Nevis. Paul Bilzerian and Terri Steffen, both of Frigate Bay, along with Gregory Gilpin-Payne of New Road, were charged on June 18 at the Basseterre Police Station following an investigation by the Royal St. Christopher and Nevis Police Force.
Police allege that the three conspired with other individuals to obtain approximately US$50 million through false pretences and subsequently engaged in efforts to launder the proceeds. The scheme allegedly occurred between November 2018 and July 2024.
Bilzerian and Payne each face four charges: money laundering by transaction, conspiracy to commit money laundering, false pretence, and conspiracy to commit false pretence. Stefan has been charged with conspiracy to commit money laundering.
The charges mark what authorities describe as a significant development in what police characterize as a complex financial crime investigation. The Royal St. Christopher and Nevis Police Force commended its white collar crime unit for its investigative work on the case in a statement issued Saturday.
In its statement, police reaffirmed the Federation’s commitment to combating financial crime. The force stated that St. Kitts and Nevis will not be used as a vehicle for fraud, false pretences, or the laundering of criminally obtained funds, and pledged to pursue such matters “with the full force of the law.”
The investigation remains ongoing. As with all criminal matters, the charges are allegations and the accused are presumed innocent unless and until proven guilty in a court of law.