Richard Duke

A Colorado-based financial institution that promotes itself as the first ‘offshore bank' in the United States is living up to its billing - by becoming involved in controversy. American International Holding LLC, d.b.a. American International Depository & Trust, has only been in business since 2003 but has already been sued twice at U. S. federal courts.

As 51-year-old British businessman Leslie Wingham scours the world for places to park millions of dollars allegedly defrauded from clients of Antigua-based Accord Insurance, it is worth taking a look at his none-too-pretty business record over the years; We can report further news on Dominica-based British Trade & Commerce Bank, which acknowledged in our July 31 edition that it was experiencing liquidity and other problems due to having some of its assets frozen in Canada and because of an alleged credit card fraud against the bank; American Eric Resteiner, who bought Viktor Kozeny's luxury home in Lyford Cay in the Bahamas not too long ago, has vacated the property after failing to meet mortgage payments and is believed to be now living in either Switzerland or Cairo, said a source; We recently received another fax from 'Anne Gregory' of The Finance Merchants Group, which purports to sell offshore bank charters from a base in the Bahamas; and We reported last month on how DIAK Bank was being operated without a license in St. Vincent by 'minister of religion' Clifford Pitt and was offering depositors annual interest rates of 25-35 per cent. We have since learned that these rates are peanuts compared with the returns of five per cent per month or 90 per cent annually being offered for five-year certificates of deposits by its sister company, DIAK Asset Management Company Ltd.