Debt Settlement Administrators

PricewaterhouseCoopers LLP and PricewaterhouseCoopers (Bermuda) have paid the State of New Jersey $5.85 million to resolve allegations of fraud and accounting improprieties at Tyco International Ltd., according to a press release issued by New Jersey's Attorney General, Anne Milgram, on

Accounts at the Bank of Bermuda and Butterfield Bank were used to launder millions of dollars of criminal proceeds stemming from corruption by former Antigua Prime Minister Lester Bird and his associates, it has been claimed. The Bank of Bermuda account was controlled by Asot Michael, Bird's former Chief of Staff and a current Opposition Member of Parliament, and the Butterfield Bank account was controlled by Bruce Rappaport, an offshore banker who is a former Antigua Ambassador to Israel and Russia and who was once the single biggest shareholder in the Bank of New York, according to the current Antigua Government.