Preferred Trust and Management Ltd.

Verlin D. Swartzendruber, 66, became the latest person suspected of perpetrating an investment fraud through a Grenada-domiciled company to appear before a federal judge in the United States. Swartzendruber, a.k.a. Joseph Severin, was arrested in Texas on June 26, 2008 - 19 months after a warrant for his arrest was issued at the U. S. District Court for the District of North Dakota.

Verlin D. Swartzendruber, 58, has joined the growing band of Americans who have obtained Grenada passports under second names and started raising funds from the island with the lure of high returns. Under his new name of Joseph Severin, Swartzendruber runs Grenada-registered Preferred Trust and Management Ltd, which raises money through continuous stock offering in various companies it manages.