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Bahamas firms part of prime bank securities scam

Bahamas-based Loomis Ltd. has been ordered to pay $874,515 following a default judgement against it in the US District Court for the Southern District of New York.Loomis and other companies, including fellow Bahamas-registered Comcar International Ltd., fraudulently obtained more than $2.1 million through a scheme involving fictitious ‘prime bank' securities.