The former head of Axxess International, the credit card administrator, has been ordered by the Bahamas Supreme Court to pay $808,653 in costs to a Bahamian-headquartered financial services group.
The award against Chris Donnachie, which was made on December 1, was in favour of Fidelity Bank and Trust International and cayman Island subsidiary, British American Card Company.
It related to a lawsuit filed by Fidelity after it suffered a million-dollar loss resulting from Donnachie’s actions when he was employed by British American Card Company to install a technology system for processing clients’ credit card transactions.
Donnachie was alleged to have place a ‘tomebomb’ in the system shortly before he resigned from British American Card Company. He activated iut afetr Fidelity refused to pay him the compensation he was seeking, having argued that he owned the intellectual property rights to the system installed.
The ‘timebomb’ shut down the British American Card Company’s computer systems with the crash leaving it unable to process transactions on behalf of its customers. the company had to spend thousands of dollars restoring its database.
McKinney, Bancroft and Hughes represented Fidelity and British American card Company in the action.
After leaving Fidelity, Donnachies wound up at Axxess International, which processed and administered transactions for Mastercard credit card clients of Leadnhall Bank and Trust. He is now believed to be in the Turks and Caicos Islands, playing a major role at the First Financial caribbean Trust Company.
Source: The Tribune
