Luis Peixoto

Bankruptcy petitions have been filed against Lincoln Fraser and Jared Brook, co-founders of the fraudulently-operated Imperial Consolidated Group, which collapsed owing more than $300 million. The petitions were filed at Grimsby County Court, England on March 7, 2003 and are scheduled to be heard on May 2, 2003, according to a court spokesperson.

Citigroup has cast doubt on the legitimacy of a new investment scheme whose participants include two key players in the $345 million fraud perpetrated by the Imperial Consolidated Group.Edouardos Stamatiou and Robert Raven are involved in an attempt by United Financial Corporation S. A. to sell $110 million one-year Certificates of Deposit bearing annual interest of up to 14 per cent.

In the wake of action taken by Swiss authorities against the Zurich based Sovereign Finance Group, which is being investigated for money laundering involving Russia and the Caribbean, regulators in St. Vincent & the Grenadines are taking action against Sovereign