Robert Boyd

Investment fraudster receives 37-month prison term

August 25, 2005

One of the key figures in an offshore investment fraud has been sentenced to 37 months in prison and ordered to pay restitution of $124 million.Robert W. Boyd was sentenced at the U. S. District Court for the Middle District of Florida on August 22, 2005 for his role in the operation of Evergreen Security Ltd., an unlicensed investment fund that was incorporated in the British Virgin Islands but largely operated from the United States and the Bahamas.

Evergreen Security recovers $3.7 m from Bahamas bank

March 17, 2005

Failed hedge fund Evergreen Security has recovered $3.7 million from Bahamas-based Surety Bank & Trust Ltd. (in liquidation). The recovery represents funds that were allegedly stolen by Thomas Spencer and Robert Boyd, who were founders of Evergreen and shareholders of the bank.

More criminal indictments in Evergreen Security investigation

August 31, 2002

Two businessmen whose interests have included Bahamas investment firms and a Bermuda reinsurer have been criminally indicted in the United States for their alleged involvement in a massive investment fraud.Jon Knight, 56, and J. Anthony Huggins, 63, stole $6.5 million from an account at the Bank of Butterfield in the name of British Virgin Islands-registered Evergreen Security, according to the complaint.

Four plead guilty to Evergreen Security charges

April 30, 2002

Four men have agreed to plead guilty to criminal charges relating to the 'Evergreen Security' investment scam, which defrauded approximately $200 million from more than 2,000 investors.They are Thomas Spencer, 51; Robert W. Boyd, 55; and Martin W. Boelens Jr., 45, all of Orlando, Florida; and Anthony V. Micciche, 72, of Tampa, Florida.Spencer and Boyd are shareholders of Bahamas-based Surety Bank and Trust (in liquidation), which ended up with some of the proceeds from the fraud.

Former owner of AFC Re caught up in fraud investigation

August 31, 2001

The former owner of Bermuda-registered AFC Re has been caught up in an investigation into an alleged $200 million fraud involving an unlicensed offshore mutual fund.Atlantic Portfolio Analytics and Management, of Orlando, was an investment adviser to Evergreen Security Ltd., which filed for bankruptcy in Florida on January 23, 2001.

Asset freeze order against Surety Bank and Trust over failed mutual fund

August 31, 2001

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.

Bahamas-based Surety Bank to go into liquidation

November 30, 2000

Bahamas-based Surety Bank & Trust is to go into voluntary liquidation after its banking license was suspended by the Central Bank of the Bahamas. The license was suspended on November 23, 2000 for a breach of Section 11 of the Banks and Trust Companies Regulations Act, which deals with capital adequacy and reporting requirements.