The Bolden Affair

David & Antoinette Bolden ran Emerald Financial Group and Emerald Capital International.

The couple were accused of stealing from exempt company Emerald Capital International, laundering the stolen funds and also providing false information about their Emerald Financial Group of companies to the Bermuda Monetary Authority [BMA].

The total amount alleged to have been stolen was $272,000. ECI was founded by the Bolden’s with two Canadian partners in 2007. Their business partners accused them of plundering the company accounts.

Following a Jury trial in Supreme Court in 2011, the Bolden’s were eventually cleared of 18 theft and money laundering charges, but were convicted of misleading the BMA over the financial position of the Emerald Financial Group, which was licensed by the regulator. They were eventually sentenced to 200 hours of community service.

During the trial, the jury heard about a wireless internet project that the company in question, ECI, worked on. The project was described by the Bolden’s’ former ECI business partner John Wright as a “next generation giant hotspot” to link internet, telephones and high definition television.

Mr Wright, who gave evidence for the prosecution, and the Bolden’s, who gave evidence in their own defence, told the jury about a presentation on November 4, 2008 where the wireless project was demonstrated to Government officials including then-Premier Dr Brown at the Cabinet Office.

During the trial David Bolden, responded to questions by prosecutor Susan Mulligan and Chief Justice Richard Ground, by claiming a Government Minister had told him that the former Premier (Dr Brown) wanted ten percent of his wireless technology company and, furthermore, wanted his wife Wanda Henton Brown to be given a place on the board.

Mr Bolden also stated, under oath, that the former Premier had asked for a 60 percent share of the commission he earned from work on Bermuda’s public pension funds.

Since these allegations were not made in front of the jury, local media were prohibited from reporting them until the trial finished.

True to previous form, Dr Brown tried to prevent publication of the claims beyond the end of the trial but, as on a previous occasion, he was unsuccessful. He was also ordered to pay the costs incurred by the media.

Inevitably perhaps, Dr Brown denied the accusations and described them in a statement as “outrageous” and “a total fabrication”.
Dr Brown also instructed lawyers Mark Pettingill and Marc Daniels, of Charter Chambers Bermuda, to represent him. In a letter to The Royal Gazette on June 9, Mr Daniels wrote:

“Any and all comments relating to Dr Brown being involved in any type of ‘kick back’ or payments to him or advantage from the Bolden’s personally or any company with which they are involved is unequivocally denied.”

Mr Pettingill said Dr Brown planned to mount a private prosecution against Mr Bolden, alleging he (David Bolden) had committed perjury.

Subsequently, Dr Brown also welcomed news of a police inquiry into the corruption claims made against him and pledged to assist the investigation in any way he could.

In January 2012, Police Commissioner Mr DeSilva provided an update to the Royal Gazette. He said: “The Bermuda Police Service initiated enquiries into allegations of corruption on the part of Dr Brown and others that were made by David Bolden during the course of his own trial in June of last year.

“During our enquiries it became necessary to seek the assistance of an overseas law enforcement agency to look into activities that may have occurred in the United States.

“Work is still being done to examine claims made by the complainant and other witnesses. The matter remains under investigation, but it is important to note that no charges have been laid to date as up to now there is insufficient evidence to support a criminal prosecution.”

He said he could not divulge which overseas agency is involved in the inquiry, who the other witnesses are and whether Dr Brown has been interviewed by police over the allegations.

“The witnesses include persons who were not connected to the Bolden trial, but once again, it’s not for me to divulge who they are at this time,” said Mr DeSilva.