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Jurisdictions

Allegations

Nevis firms sue alleged investment fraudsters

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.

Investor sues house painter-turned-forex trader

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.