Nine businessmen have been criminally indicted in Florida for allegedly perpetrating an accounts receivable factoring scam which an offshore bank group claims has cost it approximately $170 million. The December 4th indictment relates to the same circumstances which led to Cayman Islands-licensed Bank Espirito Santo (International) Ltd. filing a civil lawsuit against E. S. Bankest LLC earlier this year.
A Cayman Islands-licensed bank is being sued in the United States following the collapse of an accounts receivable factoring group.Far from being a victim of the now insolvent E. S. Bankest Group, Bank Espirito Santo International Ltd. participated with it in a fraudulent scheme, it has been alleged.
Legal proceedings at the U. S. District Court for the Southern District of Florida involving a $170 million claim by Cayman Islands licensed Bank Espirito Santo International Ltd. against United States based receivables factoring firm E. S. Bankest LC et
A Florida receivables factoring group which is being sued for $170 million by a Cayman Islands bank is a defendant in a new action brought by a bank in Switzerland. In a lawsuit filed on August 27, 2003, EFG Private
A Cayman Islands-licensed bank is suing a Florida-based accounts receivable factoring company which has allegedly defaulted on loans totaling $170 million.Bank Espirito Santo (International) Ltd., which is part of the Portugal-based Espirito Santo Group, filed a civil lawsuit against E. S. Bankest LC at the U. S. District Court for the Southern District of Florida on August 6, 2003.