As Bermuda struggles to cope with a recent influx of investment scam operators, one of the schemes heavily promoted on the island has had its assets frozen in the United States. The United States District Court for the Western District of Washington State issued a temporary restraining order on May 10 against several parties accused by the SEC of committing a $40 million fraud. Defendants in the lawsuit are John Wayne Zidar, John Wesley Matthews, Elizabeth Anne Phillips, Oakleaf International, Rosewood International and Meliorations Management Teem.
Regulators freeze assets in $40 m ‘fraud’ case
24 years ago
Topics
Bermuda Fraud Investment Turks & Caicos Islands USAKeywords
John Wayne Zidar John Wesley Matthews Meliorations Management Teem Oakleaf International Rosewood International