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    Failed $200 million fund linked with Bahamas bank

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    23 years ago

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    Antigua & Barbuda Bahamas Banks & Trusts Belize British Virgin Islands
    Cayman Islands Channel Islands Costa Rica Fraud Guernsey Investment Isle of Man Jamaica Money Laundering St. Vincent & the Grenadines Turks & Caicos Islands USA United Kingdom
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    Evergreen Security Ltd. Surety Bank & Trust

    An offshore mutual fund that has collapsed amid debts of $200 million and allegations of massive fraud had close links with Bahamas-based Surety Bank & Trust, OffshoreAlert can reveal. SBT’s relationship with British Virgin Islands-registered Evergreen Security Ltd. appears to be the reason why the bank chose voluntary liquidation late last year over being sold as a going concern.