Receiver appointed in Canada for assets of Exchange Bank & Trust

The Supreme Court of British Columbia has appointed a Receiver for US$20 million of assets belonging to two offshore banks, their clients and related parties – more than three years after freezing them.Following its appointment on June 16, 2003, KPMG Inc., in Vancouver, Canada, is seeking claimants for the funds, which were frozen in April/May, 2000 as part of an investigation into securities fraud.