First Heritage Savings Credit Union

Bermuda-based investment firm Lines Overseas Management and Turks & Caicos Islands-based RBC Dominion Securities are among 72 defendants in a civil fraud lawsuit filed in the United States by clients of Cambridge International Bank & Trust, of Grenada. They are in good company, with fellow defendants including household names such as J&H Marsh McLennan and Lloyds TSB Bank (Isle of Man).

In one of the latest lawsuits to be filed as part of the on-going Grenada banking scandal, creditors of Cambridge International Bank & Trust claim to have been defrauded of $50 million.Cambridge, which began life as a sub-bank of the First International Bank of Grenada, offered annual interest rates of up to 51 per cent per annum, according to the complaint.