Ex-FIBG insider Doug Ferguson pleads guilty to money laundering

The former head of a sham offshore insurer has become the third defendant to plead guilty in a criminal case in the United States against former officers and directors of the First International Bank of Grenada. Douglas Christie Ferguson, 74, pleaded guilty to one count of conspiracy to commit money laundering at a change of plea hearing at the U. S. District Court for the District of Oregon on March 19, 2007 just two weeks before his jury trial was set to begin.