Howard Cantor

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Jurisdictions

Allegations

Nine indicted for allegedly defrauding Espirito Santo Bank

Nine businessmen have been criminally indicted in Florida for allegedly perpetrating an accounts receivable factoring scam which an offshore bank group claims has cost it approximately $170 million. The December 4th indictment relates to the same circumstances which led to Cayman Islands-licensed Bank Espirito Santo (International) Ltd. filing a civil lawsuit against E. S. Bankest LLC earlier this year.