Authorities have laid several money-laundering and fraud-related charges against three persons in an alleged financial scheme spanning nearly six years.

Based on a press release from the Royal St. Christopher and Nevis Police Force (RSCNPF), Paul Bilzerian and Terri Steffen, both of Frigate Bay; and Gregory Gilpin-Payne of New Road, all on St. Kitts, were each charged with money-laundering and fraud offences committed between November 2018 and July 2024.

During the period the accused, together with others, are alleged to have conspired to obtain USD $50,000,000 (fifty million United States dollars) by false pretenses and to have subsequently laundered the same. On June 18th, 2026, the following charges were laid against the trio at the Basseterre Police Station: Paul Bilzerian, charged with Money Laundering by Transaction, Conspiracy to Commit Money Laundering, False Pretense and Conspiracy to Commit False Pretense.

Terri Steffen, charged with: Conspiracy to Commit Money Laundering. Gregory Gilpin-Payne, charged with Money Laundering by Transaction, Conspiracy to Commit Money Laundering, False Pretense, Conspiracy to Commit False Pretense. Investigations into the matter are ongoing.

The RSCNPF stated “St. Kitts and Nevis will not be used as a vehicle for fraud, false pretense, or the laundering of criminally obtained funds, and the Force will continue to pursue all such matters with the full force of the law.”