Grand Cayman Island, famously described as a sunny place for shady people, owes its extraordinary rise and equally spectacular fall to three people: expat lawyer Bill Walker, best-selling novelist John Grisham and President Barack Obama. This tiny coral-encrusted British territory has long claimed to be the world’s fifth-largest financial center, routinely ranked with Hong Kong, Zurich and London. More than a trillion US dollars are said to be parked in Cayman, most of it in 8,000 trust funds (75 percent of the world’s registered trust funds).