Dean Pearson

Two offshore entities have been named as defendants in a lawsuit filed in the United States by the Receiver of the Cash 4 Titles Ponzi Scheme, whose insolvency is more than $150 million.It has been alleged that Private Terms Ltd., c/o Morningstar Holdings Ltd., Nevis; Classic Terms Ltd., of the Cayman Islands; and their alleged owner, Gilbert M. Miller, of Duluth, Georgia, USA, profited by at least $3.2 million from the scheme.

The US Securities & Exchange Commission has added 16 defendants to a lawsuit filed in connection with an alleged $300 million Ponzi scheme known as Cash 4 Titles.Several of them are legal entities registered in the Cayman Islands and the Bahamas, where most of the proceeds of the US-based scheme were allegedly laundered.