June 10, 2019
(CMR) Truman Bodden, Chairman of Cayman National Corporation Ltd. (CNC) recently “resigned” after what CMR sources indicate was a mental health deterioration. Bodden was instrumental in the recent and controversial sale of CNC to the Republic Bank out of Trinidad.
CMR heard around May 18 that he had gone to the Little Cayman agriculture show and persons were very alarmed about obvious mental state; exhibited by peculiar conduct.
Whilst details are scarce we are aware that some weeks back Bodden's behavior caused a great deal of alarm at the local airport; where persons said he was “acting erratic and dressed inappropriately” at the airport attempting to board a flight back from Little Cayman.
It was also alleged that his family had to take out a protective order from the courts after he was erratically disbursing his money to non-family members and “paying off mortgages” and large bills for people.
Shortly thereafter, around May 24, it was unceremoniously announced online that as a result of ill health the Hon. Mr. Truman M. Bodden, OBE, has resigned from his position as the Chairman and member of the Board of Directors of CNC, and from the boards of directors of CNC subsidiaries.
We understand that he was off island until recently and was receiving treatment at the Mayo facility in Tampa. However, he is not said to be in Little Cayman.
There was no local announcement about his resignation. However, It was posted on Bloomberg's website. There has been no word about a replacement Chairman or board member.
Ironically, CNB still has him listed as Chairman on their website.
CMR reached out to his family for comment but were referred to the family lawyer.
Truman Murray Bodden (born 22 April 1945) is a former Caymanian politician. An attorney at law by profession, he served as Leader of Government Business from 1994 to November 2000. He was a member of the Legislative Assembly for George Town. When in government he served in the Ministries of Education, Youth, Finance, Civil Aviation, Employment, Tourism, Environment, Investment and Commerce.
He is a founding member and director of Truman Bodden and Company Attorneys-at-Law, Cayman Islands.