21st Century Banking

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    Former Grenada banker sentenced to more than 17 years in prison

    Former offshore banker Kenneth Payne has been sentenced to 17 years and seven months in prison after pleading guilty to five counts of mail fraud and one count of money laundering in the United States.Payne, who helped to operate the now defunct 21st Century Banking Group, in Grenada, was sentenced on April 12, 2002 at the United States District Court for the District of Southern Indiana.

    Daniel Danker sent to prison for investment fraud

    One of the principals of a now defunct Grenada-registered bank has been sentenced to five years and 11 months in prison in the United States.Daniel G. Danker, 53, was also fined $50,000 and ordered to pay restitution of more than $20 million at the U. S. District Court for the Southern District of Indiana on July 15, 2001.

    Insider Talking: February 28, 2001

    Offshore regulators act against banks named in U. S. Senate's 'Correspondent Banking: A Gateway to Money Laundering' report, Marc Harris denounces attempt to strip him of Panamanian citizenship, David Voth comes up with a novel excuse as to why he can't make investment pay-outs, complaints about Morrison Cross Financial Investments start coming in, details of relatively-recent lawsuits involving Jerome Schneider and/or related entities, U. S. court approves settlement plan between Heartland Financial Services and investors who received "false profits", Pittsburgh travel agent Roy Davis Jr. becomes latest victim of John Mathewson's co-operation with US authorities, sset freeze order issued against Midpoint Trading Corporation, Euro Bank Corp. 'Preliminary Inquiry' hearing starts in Cayman Islands.

    SEC lawsuit leads to closure of 21st Century Banking Group

    Grenada-registered 21st Century Banking Group is closing down after the US Securities & Exchange Commission froze the assets of the investment group that operated the offshore bank. In a lawsuit filed at the US District Court for the Southern District of Indiana, the SEC has accused six defendants of defrauding 330 investors out of $29.1 million raised since January, 1998.

    IDIC moves to Grenada after being closed down in two jurisdictions

    Grenada regulators have allowed the sham insurer known as IDIC to incorporate on the island after regulators in Nevis and Dominica closed down the company, we can disclose. IDIC was closed down by Nevis regulators on January 27, 1999 and, the following month, was shut down in Dominica, where it had moved.