Targets of alleged LOM fraud derided as “lambs” & “sheep” in recorded call, says SEC
March 7, 2010
A participant in an alleged securities fraud involving Bermuda-based Lines Overseas Management described potential victims – who included LOM's own clients – as "poor lambs" and "sheep", claims the United States Securities and Exchange Commission.
Full story >>
Stock promoter who caused collapse of Bahamas broker convicted of securities fraud
March 7, 2010
A 40-year-old Canadian stock promoter who defrauded two Bahamas-based stock brokers and others of more than $30 million has been found guilty of securities fraud in Philadelphia and faces a maximum sentence of 165 years in prison.
Full story >>
Offshore banker Johnny Johnson accused of fraud by SEC
March 7, 2010
Offshore banker Johnny Johnson, who has managed three offshore banks closed down by regulators in the Cayman Islands, Antigua and Grenada, has been implicated in another financial scandal.
Full story >>
Bahamas accountant Philip Galanis sued for $4 million
March 7, 2010
Bahamas-based accountant Philip Galanis is being sued for damages of $4 million regarding a personal guarantee that he provided for real estate construction loans that are in default.
Full story >>
Cayman accountant Theo Bullmore sues coin dealer for $170,000
March 7, 2010
Cayman Islands-based accountant Theo Bullmore, who made his name liquidating high-profile international businesses, is suing a Texas-based coin dealer for allegedly defaulting on a personal loan.
Full story >>
Fortis Bank (Cayman) seeks to recover $282 m in loans to real estate funder
March 7, 2010
Fortis Bank in the Cayman Islands has initiated litigation in Manhattan in an attempt to recover $282 million that is owed by a firm which specializes in issuing real estate loans.
Full story >>
Offshore hedge funds sue Porsche for alleged securities fraud
March 7, 2010
Hedge funds in Bermuda, the British Virgin Islands, the Cayman Islands and the United States are seeking undisclosed damages against auto manufacturer Porsche for an alleged securities fraud.
Full story >>
|
|
Letter from latin America
March 7, 2010
COSTA RICA: Arrested with $259,000. GUATEMALA: Former President suspected of money laundering. MEXICO & CENTRAL AMERICA: $410 Million for Plan Merida. PERU: Peruvian outcome of a giant FBI case; Trial on corruption and murder opens.
Insider Talking
March 7, 2010
Democratic and Republican politicians alike in the USA fail to return Allen Stanford donations, including Charles Rangel, Max Baucus, John McCain and … gulp … Barack Obama!; victims of one of Canada’s biggest hedge fund frauds prepare to sue Grant Thornton Bahamas; man charged with murder of British financial services provider Hywel Jones – police continue to investigate the person who ordered the hit; and a penny stock firm that vanishes into thin air exposes two ridiculous audits conducted by Bahamas firm HLB Galanis Bain.
|
