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Caribbean regulator sued again for allegedly 'fleecing' foreign depositors

May 23, 2017 by David Marchant

HIGHLIGHTS

  • ECCB accused of 'stunning lack of care and diligence'
  • Regulator 'ran roughshod' over offshore depositors to benefit local clients
For at least the third time in four years, regional regulator the Eastern Caribbean Central Bank has been sued in the United States for allegedly swindling foreign clients of local banks, this time out of more than US$76 million. The latest complaint was filed by the Administrator of Caribbean Commercial Investment Bank Ltd.

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