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Accused fraudster Michael Richmond used name of First Bermuda Securities when raising funds

A businessman – Michael Richmond – criminally indicted in the U.S. for an alleged $8.5 million investment fraud lied about a relationship with First Bermuda Securities when raising funds, claim investigators. Richmond allegedly told potential depositors of his Nauru-registered Royal Meridian International Bank that their accounts would be managed by FBS or Deacon Capital Corporation.