On July 4, 2000, not long before Adrian Ball’s audit of the First International Bank of Grenada was completed, the bank’s chairman, Richard Downes, sent an extraordinary letter to FIBG’s depositors.In the 10-page letter, Downes acknowledged that FIBG was “experiencing a severe cash-flow problem” and asked clients for their “forgiveness”.He then called on depositors to help to overcome the problems through “the flow of positive energy” in order to “reverse the polarities” of the “negative energy” surrounding the bank.
Articles Banks & Trusts Bribery & Corruption Featured First International Bank of Grenada Fraud Grenada Investment Money LaunderingJuly 31, 2000
Topics
Banks & Trusts Bribery & Corruption Fraud Grenada InvestmentKeywords
First International Bank of Grenada Richard Downes