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By Brett Graff |
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May 22, 1998 |
Sniffing out
offshore scams, Newsletter publisher takes on the business of fraud
in the islands
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| Intro: |
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David Marchant, 33, editor and
publisher of Offshore Business News and Research, has a motto: "The
pen is mightier than the fraud."
His Miami-based research company publishes two international
business newsletters, Offshore Alert
and Inside Bermuda, which began
circulating in February 1997.
Marchant has been a journalist
for 14 years, beginning in his native Wales. Between 1990 and 1996
he worked in Bermuda for The Royal Gazette, a daily paper, and
free-lanced for international newsletters including London's Lloyd's
List.
And he's been making enemies offshore for some time. He was forced
to leave Bermuda in 1996 after being denied a work permit. In
October 1997, the Bermuda stock exchange de-listed the shares of
NimsTec, a company involved in 3-D camera technology, after
regulators followed information in an
Offshore Alert investigation that concluded the company
published misrepresentations and inaccuracies in its prospectus.
Marchant is compiling databases
about the islands, including information about civil suits, land
purchases, and bank and insurance licenses.
He sat with the Daily Business Review's Brett Graff to discuss when
and where investors should tread lightly when doing business
overseas. |
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