Russell Cline

Banc Caribe liquidator & National Bank of Dominica settle litigation with Cash 4 Titles receiver; former house painter Russell Cline enters into plea agreement in Oregon concerning fraud and money laundering charges; and US authorities continue with attempt to seize assets of former Ukraine Prime Minister Pavlo Lazarenko.

No mention of SEC's securities fraud investigation in publicly-listed Lines Overseas Management's half-monthly letter to shareholders; Fraudster Maurice Lewis Mills loses a civil lawsuit that was filed against him by the Commodity Futures Trading Commission; Former offshore provider David Hampton Tedder indicted again; Former banker Mohamad Harajchi claims to have contributed $10 million to the Progressive Liberal Party to fund its successful general election campaign in the Bahamas in 2002; US Gov't tries to kick-start its stalled criminal action against Yank Barry and James Collins; Leadenhall Bank & Trust says its viability has not been affected by the loss of its MasterCard license and its legal dispute with former card administrator Axxess International over the return of millions of dollars of deposits to card-holders; and Axxess International appears to have gone out of business.

A house painter who held himself out to be an international currency trader and funneled the public's money through offshore accounts has been criminally indicted in the United States. Russell Warren Brent Cline, of Oregon, faces 39 counts of mail

CFTC's Motion for Summary Judgment in Commodity Futures Trading Commission v. Sterling forex LLC and Maurice L. Mills at the U. S. District Court for the Western District of Washington.

An offshore company which collapsed with massive losses amid allegations of fraud is being sued by a purported forex trader who claims he is owed commissions for making it a profit.Igor Toshchakov, of Los Angeles, California, filed a lawsuit against Orion International LLC, of Western Samoa, and its President, Russell B. Cline, at the U. S. District Court for the Central District of California on August 14, 2003.

Four Nevis-registered firms who were members of a sham offshore credit union have filed a lawsuit alleging they were defrauded of approximately $3.7 million in a bogus foreign currency trading scheme. Diamond Investment Group LLC, Index Management Systems LLC, Austin Enterprises LLC and Bonita Holdings LLC filed an action at the U. S. District Court for the District of Oregon on July 11, 2003.

A federal judge in Oregon has frozen the assets of several parties accused of operating an alleged foreign currency trading scam headed by former house painter Russell Cline and with ties to the Caribbean island of Dominica.

A collapsed offshore forex fund whose head trader was a house painter is being sued by an investor that claims to have lost $4.817 million.The investor, Nevis-registered Worldwide Financial Services LLC, claims the fund, known as Orion International, was operated as a Ponzi scheme.

In a collapse that is strikingly similar to The Genesis Fund, a Dominica-based group also purporting to trade foreign currency has informed its clients that virtually all of their funds have been lost.Russell Cline, "Head of Trading" of Orion International, posted a letter on its web-site at www.orionfx.com in August, 2002 stating that "in excess of 90%" of pooled money had gone.