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Allegations

Lawsuits filed against Horizon Bank International

Four civil lawsuits have been filed in Bermuda against Horizon Bank International, which is licensed in St. Vincent & The Grenadines. The separate actions were filed at Bermuda Supreme Court  on December 7, 2004 by FX Bridge Limited, Transworld Management Consultants Corporation, International Monetary Services Inc., and Four Square Partners Inc.

Horizon Bank International has $11.9 m of assets frozen in Bermuda

A Caribbean offshore bank closely associated with the Bermuda-based Grosvenor Group has been accused of perpetrating a $20 million fraud against two of its clients. The allegation against Horizon Bank International Limited, which is licensed in St. Vincent & the Grenadines, was made in a civil complaint filed at Ontario Superior Court of Justice, in Canada.

Battle for control of American International Bank assets

A battle is taking place for control of the assets of American International Bank Ltd. of Antigua, which went into receivership earlier this year. The bank's demise happened after its principal, William Cooper, tried to set up a new bank called Overseas Development Bank Ltd. to buy AIB, said sources.