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Criminal investigation into Hamilton Bank executives

Two former executives of a now-closed U. S. bank that provided correspondent services to many offshore financial institutions are targets of a criminal investigation. They are Eduardo Masferrer and Carlos Bernace, formerly Chairman/CEO and Executive Vice President/Director, respectively, of the Hamilton Bank, in Miami.

Hamilton Bank officers accused of fraud

The U. S. Securities and Exchange Commission has filed a lawsuit alleging fraud against three former senior officers of Florida-based Hamilton Bank N. A., which was closed down by U. S. regulators in January, 2002. Eduardo A. Masferrer, Juan Carlos Bernacé and John M.R. Jacobs are defendants in the action, which was filed at federal court in Miami on September 25, 2003.