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Articles Bahamas Featured Fraud Investment USADecember 31, 2000

Galanis, Ernst & Young (Bahamas) sued for alleged investment fraud

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24 years ago

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Bahamas Fraud Investment USA

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Advantage Income Trust Anthony Ghirardello Anthony Marriott Blue Water Boys, Ltd. Charles Smith
Ernst & Young Glen Roger Thompson Investors Trading Trust Jack Larsen James Floyd Lauriel Investments, Inc. Passport Club International Paul Clarke Paul Floyd III Philip Galanis Progressive Growth Management Group, Ltd. Richard Kubany Southwest Income Trust Standard Industrial Capital, Inc. Steven Shoop
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Ernst & Young (Bahamas), its former Managing Partner, Philip Galanis; and a current partner, Paul Clarke, are being sued in the United States for their role in an alleged $9.95 million investment fraud.
The complaint, which was filed on November 30, 2000 at the U. S. District Court for the District of Arizona, relates to the same events that led to Galanis being fired from Ernst & Young in 1997.