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By Desmond Brown |
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April 30, 2002 |
Grenada shuts down offshore bank, investigates four more in
cleanup effort
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| Intro: |
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Grenada has revoked one offshore bank's license
and is investigating four more in its ongoing effort to clean up the
Caribbean country's financial sector, the finance minister said
Tuesday. |
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| Excerpt: |
Of the four banks being investigated,
accounting firm PricewaterhouseCoopers is to spend 15 days reviewing
the banks' operations before the government decides whether they
should keep their banking licenses. None of the banks is in
receivership or liquidation, according to
OffshoreAlert, a newsletter published in Miami. |
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