Former Barbados insurer CEO fined US$7,000 in money laundering case
Key Points(5)
- Former Insurance Corporation of Barbados Limited (ICBL) chief executive officer Ingrid Innes has been fined US$7,000 and sentenced to time served after pleading guilty to one count of conspiracy to commit money laundering.
- The 70-year-old, who has stage three pancreatic cancer, avoided further imprisonment after District Judge Kiyo Matsumoto took her medical condition into account.
- Business No ‘urgency; to raise US interest rates immediately, says key Fed official September 30, 2026 Innes was charged in connection with a bribery scheme involving former government minister Donville Inniss.
- Inniss was convicted in the United States in 2020 and served two years in federal prison.
- Entertainment, Latest News Jahtorius urges men to ‘Walk Away’ without violence September 30, 2026 The payments were alleged to be bribes intended to help the Insurance Corporation of Barbados Limited secure more business.
Former Insurance Corporation of Barbados Limited (ICBL) chief executive officer Ingrid Innes has been fined US$7,000 and sentenced to time served after pleading guilty to one count of conspiracy to commit money laundering in the United States.
Innes, 70, was sentenced by District Judge Kiyo Matsumoto, who took her medical condition into consideration. Innes has stage three pancreatic cancer and avoided further imprisonment.
The Canadian national was charged in connection with a bribery scheme involving former Barbadian government minister Donville Inniss.
Inniss was convicted in the United States in 2020 and served two years in federal prison. Prosecutors alleged that payments made through the scheme were bribes intended to help ICBL secure additional business.
According to Barbados Today, the payments were disguised through two fraudulent invoices prepared by ICBL Chief Financial Officer Kamante Millar.
Millar later entered into a plea agreement and testified for the prosecution during the federal case against Innes, other ICBL executives and Inniss.
During the 2020 trial, Millar testified that she generated two false internal invoices — one for US$16,536.73 in 2015 and another for US$20,000 in 2016.
The invoices were used to disguise payments that were ultimately channelled to Inniss’ US-based dental company, Crystal Dental Lab.
Innes told authorities that when she was asked to approve the payments to Inniss, she was informed that they were for consulting services.
She also said she had been told that it was not necessarily illegal or unusual in Barbados for members of Parliament to own businesses, including consulting companies, or to accept campaign contributions from government suppliers.
Innes’ guilty plea brings the case involving the former ICBL executive to a close after several years of legal proceedings stemming from the bribery scheme.
.jpg&w=3840&q=75)
