Anguilla offshore manager accused of theft

THE VALLEY — An offshore trust manager is accused of stealing about $1 million of clients' money and licenses for 10 companies he is associated with have been suspended in this tiny British dependency.

Inspector Andrew Arsenault is the head of a financial investigative unit of the Royal Anguilla Police Force. He says offshore businessman Joseph Brice was charged earlier this month with misappropriating $950,000 from a trust fund he managed.

The head of the Anguilla Financial Services Commission, Niguel Streete, said Tuesday that Brice has stakes in the 10 suspended companies. Specifics were not disclosed.

Brice was released on bail and his passport was seized. His office phone went unanswered and an e-mail was not returned.