BASSETERRE, St. Kitts – Law enforcement authorities in the Federation of St. Kitts and Nevis have formally levelled money laundering and fraud-related charges against three people, including Paul Bilzerian, for their alleged involvement in a transnational financial conspiracy that stretched across nearly six years. The Royal St. Christopher and Nevis Police Force (RSCNPF) announced the charges Wednesday, marking a key milestone in an ongoing investigation into what officials call a major white-collar criminal operation.
The three accused individuals are Paul Bilzerian and Terri Steffen, both residents of Frigate Bay, St. Kitts, and Gregory Gilpin-Payne, who resides on New Road in Basseterre. According to official allegations laid out by investigators, the trio conspired with multiple unindited co-conspirators between November 2018 and July 2024 to acquire roughly $50 million in funds through deliberate false representation of financial facts. After securing the illicit funds, prosecutors allege the group worked to disguise the illegal origins of the money through a complex web of financial transactions that form the core of the money laundering charges.
Formal charges were officially registered on June 18, 2026, at the Basseterre Police Station, four days before the public announcement of the case. Both Bilzerian and Gilpin-Payne face four separate criminal counts: money laundering by transaction, conspiracy to commit money laundering, obtaining property by false pretence, and conspiracy to commit false pretence. Steffen faces a single count of conspiracy to commit money laundering in connection with the scheme. No details on potential upcoming court appearances or bail status have been released to the public as of the announcement.
RSCNPF officials confirmed that the investigation into the alleged scheme is still active, with additional lines of inquiry still being pursued by law enforcement. In an official statement released alongside the announcement of charges, the police force publicly recognized the work of investigators assigned to its specialized White Collar Crime Unit, who led the multi-year probe into the allegations. The statement also reaffirmed the Caribbean federation’s unwavering commitment to rooting out and prosecuting transnational and domestic financial crime.
“St. Kitts and Nevis will not serve as a safe haven or a transit point for fraud, misrepresentation, or the laundering of proceeds obtained through criminal activity,” the RSCNPF said in the statement. Officials added that law enforcement will continue to pursue all individuals connected to financial criminal activity with the full weight of local law, in line with the federation’s international commitments to counter money laundering and terrorist financing.