A former accountant for a real estate management firm in St. Kitts has been sentenced to 21 months in prison for laundering over half a million Eastern Caribbean dollars in what the High Court described as a “sustained, clever criminality in breach of a high degree of trust”.
Elretha Jeffers, 40, pleaded guilty in February 2024 to laundering EC$559,992 while employed as the sole accountant at IIC Management, a company responsible for managing income from Marriott Residences condominiums in Frigate Bay. Over a period of two and a half years, from December 2016 to June 2019, Jeffers, a Buckley’s Housing Development resident, manipulated accounting software to siphon funds through fraudulent refund transactions, using her personal bank cards under altered account names.
The sophisticated scheme, involving 111 fraudulent transactions, was only uncovered in mid-2019 when IIC’s new CFO, Shari Greaves, began investigating discrepancies reported by property owners. The matter was referred to the police in December 2019, and Jeffers was arrested in July 2020.
Delivering his sentencing remarks on 18th July 2025, High Court Judge Iain Morley KC described the fraud as “gross abuse of a position of trust” and a “serious offence striking at the reliability of national economic activity and public confidence.” He noted that although Jeffers and her family had raised EC$360,000 in restitution—held in escrow—and pledged to liquidate land and a vehicle to cover the remaining amount, full repayment could not shield her from incarceration.
While the original sentence was calculated at 88 months, Judge Morley applied a series of reductions. These included discounts for early guilty plea, partial restitution, and consideration for her infant son, Liam, born in April 2024. Medical and psychological evidence from multiple professionals was submitted arguing the potential harm to the child if separated from his mother. However, the judge concluded that while these concerns merited mitigation, they could not outweigh the gravity of the offence.
“There is a danger of impact on Liam,” the Judge noted, “but with good family support, there is a moderately strong likelihood he will develop normally… Reconnection can be expected if separation is not overlong.”
Jeffers will be eligible for remission after serving two-thirds of the sentence—approximately 14 months. Ancillary orders include 12 months imprisonment in default if the EC$360,000 compensation is not paid within 14 days, and an additional three years in default if the remaining EC$200,000 is not recovered through asset sales within a year. These defaults would be served consecutively.
The case was notable not only for its scale and complexity but also because it underscores the increasing seriousness with which the Eastern Caribbean Supreme Court treats financial crimes. Fraud prosecutions remain rare in St. Kitts and Nevis, but this case could mark a turning point. The court commended the white-collar crime unit, led by Inspector Jerry Watts, for their efforts despite limited resources.
IIC’s CFO, in an impact statement, detailed the reputational damage suffered by the company as a result of the fraud, emphasising the challenge of regaining trust from property owners and local partners.
The Crown was represented by Teshuan Vasquez, while Jeffers was defended by Vaughan Henderson.
The sentencing followed 30 court appearances and an extensive mitigation effort that included medical records, psychiatric evaluations, and letters of support.
Despite emotional appeals and the challenges of young motherhood, Judge Morley concluded, “for this level of offending, Liam cannot provide a complete shield from being jailed.”
Stay informed with the latest news and updates from SKN Source! Click here to join our WhatsApp group and get updates straight to your mobile. Don’t forget to follow us on Facebook for more stories and insights!
Be the first to comment on "Former Accountant Jailed for $560K Fraud in Landmark Money Laundering Case"