Insider Talking: July 5, 2005

United States-based, British national Nigel Scott Grant has reared his head again, a few years after OffshoreAlert exposed his involvement in sham offshore credit unions, at least one of which was used to commit investment fraud; The U. S. District Court for the Central District of California has granted summary judgment in favor of the SEC and against a publicly-traded firm that was closely associated with a closed-end investment fund that was once listed on the Bermuda Stock Exchange; A Commission of Inquiry, which some people believe is a sham, has begun in Grenada regarding a bribery allegation against Keith Mitchell; Still in Grenada, telecommunications firm Cable & Wireless recently settled a libel action brought by sue-happy Keith Mitchell for allowing derogatory messages about him concerning the alleged Resteiner cash bribe to be posted on a web-site it hosted, reported the Associated Press on April 26, 2005; Bruce Cowen is sentenced to prison for his involvement in the fraudulently-operated Lancer Offshore group of hedge funds; The Isle of Man Financial Supervision Commission issues warnings against several businesses; and The Cayman Islands Monetary Authority and the United States Securities and Exchange Commission have entered into an Undertaking on Exchange of Information in Securities Matters.