BASSETERRE, St. Kitts and Nevis — The Royal St. Christopher and Nevis Police Force (RSCNPF) has announced criminal charges against three individuals as part of an ongoing investigation into an alleged multi-million-dollar fraud and money laundering operation.
According to police, Paul Bilzerian and Terri Steffen, both residents of Frigate Bay, along with Gregory Gilpin-Payne of New Road, St. Kitts, were formally charged on June 18, 2026, at the Basseterre Police Station.
Investigators allege that between November 2018 and July 2024, the accused, acting together with others, participated in a scheme designed to obtain approximately US$50 million through false representations. Authorities further allege that funds connected to the scheme were subsequently laundered through various transactions.
Police stated that Bilzerian and Gilpin-Payne each face charges of Money Laundering by Transaction, Conspiracy to Commit Money Laundering, False Pretense, and Conspiracy to Commit False Pretense.
Steffen has been charged with Conspiracy to Commit Money Laundering.
The RSCNPF confirmed that the investigation remains active and that inquiries into the matter are continuing.
In its statement, the Police Force praised the efforts of its White Collar Crime Unit for its work in advancing the investigation and bringing the matter before the courts.
Authorities also reiterated their commitment to combating financial crime within the Federation, emphasizing that St. Kitts and Nevis will not tolerate the use of its financial system or institutions for fraudulent activity, deceptive schemes, or the laundering of illicit proceeds.
The Police Force stated that individuals who engage in such conduct can expect law enforcement agencies to pursue investigations and prosecutions wherever the evidence leads.
As with all criminal proceedings, the allegations remain before the courts, and each accused person is presumed innocent unless and until proven guilty beyond a reasonable doubt.
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