Kristyn Zylka

Two new civil lawsuits have been filed against parties believed to have contributed to the collapse of Evergreen Security, an unlicensed 'mutual fund' that is believed to have defrauded investors of approximately $200 million.On July 9, 2002, Evergreen's Bankruptcy Trustee, Bill Cuthill Jr., announced he had sued Bahamas resident Greg A. White for an amount that could exceed $50 million.

A Florida court has issued an injunction forbidding the liquidator of Bahamas-based Surety Bank and Trust from distributing assets to seven people, including six of the bank's shareholders.The injunction is part of an investigation into an alleged $200 million fraud committed in the name of Evergreen Security Ltd., which effectively operated as an unlicensed offshore mutual fund.