Three people in St Kitts and Nevis have been charged in connection with an alleged financial scheme involving more than US$50 million.

The Royal St Christopher and Nevis Police Force (RSCNPF) said the charges stem from alleged offences committed between November 2018 and July 2024, during which the accused, along with others, are alleged to have conspired to obtain US$50 million through false pretences and later launder the funds.

Charged are Paul Bilzerian and Terri Steffen, both of Frigate Bay, and Gregory Gilpin-Payne of New Road, St Kitts.

Bilzerian faces charges of money laundering by transaction, conspiracy to commit money laundering, false pretence and conspiracy to commit false pretence.

Steffen has been charged with conspiracy to commit money laundering.

Gilpin-Payne faces the same four charges as Bilzerian — money laundering by transaction, conspiracy to commit money laundering, false pretence and conspiracy to commit false pretence.

The charges were laid on June 18 at the Basseterre Police Station.

The RSCNPF said investigations into the matter are ongoing and praised the work of its White Collar Crime Unit in advancing the case.