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'Mobster boss' offered to rescue Bahamas broker
Anonymous
Posted: Saturday, August 13, 2011

Posted: 6/30/2010 11:10:37 PM

By: Mikey

The Bahamas has become the new Grenada in a short period of time.


Internal Administrator
Posted: Saturday, August 13, 2011
Joined: 10/12/2010
Posts: 5780


Posted: 6/30/2010 1:58:21 PM

By: Nassau Tribune

"The scheme was revealed in testimony under oath by Robert Dunkley, Caledonia's Bahamian former investment adviser, who made a number of other stunning admissions. These were:

* That he and other senior Caledonia executives allowed Georgiou to trade on margin using credit backed by the assets/cash of other Caledonia clients, exposing innocent trading customers to the huge losses some eventually suffered.

* That Matthew McNeilly, Caledonia's former chairman and owner, allegedly "asset stripped" the broker/dealer shortly before its early 2008 collapse, transferring all its "good" assets to another company, Ecosse.

* That Caledonia should have carried out more due diligence on Georgiou, who had been barred from working as a broker by Canadian regulators, DeRosa and their sources of wealth and business activities."

http://www.tribune242.com/business/06302010_Broker_business_Page1-Lead


Anonymous
Posted: Saturday, August 13, 2011

Posted: 7/4/2010 3:20:11 PM

By: Georgiou

george Georgiou is sitting in jail waiting a hefty sentence.word is a few promoters he worked with are about to be charged aswell.Perhaps they should not travel,or maybe they are already trying to inform their way out of trouble.You slime dogs know they are comming.


Anonymous
Posted: Saturday, August 13, 2011

Posted: 7/3/2010 8:08:23 AM

By: David Marchant

This is nothing new. The Bahamas has had its very rough elements for many, many years. I can remember that, after Suisse Security Bank and Trust was taken over by regulators, the liquidator accused former management of causing the offices to be broken into and records removed. Precisely nothing of significance happened to the alleged perpetrators, who remained living on the island. It doesn't get more Mickey Mouse than that.

In another case, Bahamas Supreme Court judge Jon Isaacs unfroze the assets of a blatantly criminal enterprise (known as Banakor Swisse, which was exposed by OffshoreAlert), awarded the crooks costs and even invited them to apply for damages after the Attorney-General had tried to close them down.

Throw in an unreliable and poor quality telecommunications system and a high rate of violent crime and you can see why it is generally considered to be a distant third to Bermuda and the Cayman Islands as an Offshore Financial Center.


 

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