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    Articles Bahamas Featured Fraud Investment USADecember 31, 1998

    Investors allegedly defrauded of $5 million in Bahamas/Florida bond scheme

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    By
    25 years ago

    Topics

    Bahamas Fraud Investment USA

    Keywords

    Best Systems Inc. John Klein Merrill Klein Peter Zaccagnino III Sterling International (Bahamas) Ltd.
    Two-Thirds International Inc. Wonder Glass Products Inc.
    [ 2 more... ] [ top 5 ]

    The SEC has obtained a federal court order against a Bahamas-registered IBC, a Florida company and businessmen in the United States who participated in an allegedly fraudulent bond sale and prime bank note scam that earned nearly $5 million.
    According to the SEC’s complaint, the bonds offered for sale were historical bonds, including those issued in the 19th Century by now defunct railroads and allegedly backed by gold.