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By David Baines

January 17 2001

B.C. investors involved in Grenada suit: Lawsuit alleges that offshore bank failed to redeem investments when deposits matured

Intro:
 

Executives of an offshore bank that solicited investments from hundreds of investors, including an unknown number from B.C., are being sued in Grenada for failing to redeem the investments.

A group of six investors allege in a lawsuit filed in Supreme Court of Grenada that officers and directors of Cambridge International Bank & Trust Co. Ltd. persuaded investors to deposit millions of dollars with the bank.

 
Excerpt: The bank became the centre of a major political and financial scandal in Grenada after it and myriad related entities were exposed by David Marchant, editor and publisher of Florida-based Offshore Business News and Research in early 1999.
 

 

 

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