Insider Talking: March 9, 2007

The web-sites of two companies whose dubious activities have been highlighted in recent editions of OffshoreAlert have been dismantled over the last few weeks; On February 12, 2007, OffshoreAlert received an email from Kristen Lawson, a “Legislative Advisor” with Miller Thomson LLP, a law firm based in Calgary, Alberta, Canada; Telecommunications and cable television firms in Bermuda and the Cayman Islands have been dragged into a long-running legal dispute over the ownership of a $900,000 airplane that was damaged in Hurricane Ivan; Under Prime Minister Keith Mitchell, Grenada has become the poster country for corruption and banking fraud; OffshoreAlert recently learned that U. S. Bank N.A. obtained a default judgment for $21 million against British-based alleged fraudster Sendjer Shefket and his British firm Target International Funds Ltd. at federal court in the USA on May 24, 2006; Convicted white-collar criminals who believe they are punished too severely in the United States should be thankful they don't operate in China; and While the U. S. legal system does not yet offer death as a punishment for fraudsters, it is still less than hospitable for convicted white-collar criminals, as Martin A. Armstrong can attest to.