Thomas Coyle

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Jurisdictions

Allegations

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.