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Cayman Islands Premier Says He’s Innocent After Arrest

Dec. 13 (Bloomberg) -- Cayman Islands Premier McKeeva Bush said he’s innocent of corruption charges and will remain in his post while on bail.

“I have done nothing wrong and I shall not be resigning as premier,” Bush said in a statement e-mailed by his office. “I also wish to assure one and all that the government continues to operate as normal.”

Bush, 57, was arrested Dec. 11 and faced two days of questioning from police, who also confiscated computer equipment from his home in West Bay. Police said Bush was released yesterday and will remain on bail until February while their investigation continues.

Bush, who took office in 2009 and is known as “Father of the House” for his almost three decades of service in the country’s parliament, was arrested for misuse of a government credit card, conflict of interest and importing explosive substances, according to police. Bush said he could not comment any further at this time “on the advice of my attorney and given the circumstances.”

The Cayman Islands, a British Overseas Territory which has the highest number of hedge funds in the Caribbean, has historically attracted companies such as Bain Capital LLC and Medtronic Inc. The nation was home to 10,979 funds as of Sept. 30, up from 9,258 in 2011, according to the country’s monetary authority.

In a statement released after Bush’s arrest, the British Governor’s office said that Cayman police will “carry out a robust, fair and comprehensive investigation, regardless of the individual concerned.”

To contact the reporter on this story: Eric Sabo in Panama City at esabo1@bloomberg.net

To contact the editor responsible for this story: Bill Faries at wfaries@bloomberg.net

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