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Genesis Fund investigation leads to eight arrests

Five people in California and three others in Costa Rica were arrested in May for allegedly swindling hundreds of investors out of tens of millions of dollars from 1994 to 2002 in an offshore investment scam.The arrests followed an 83-count indictment - unsealed on May 13, 2005 - at the U. S. District Court for the Central District of California concerning an unlicensed investment fund known as the Genesis Fund.

Attorney Jeffrey Matz and others found guilty of $64 million investment fraud

Six people have been convicted of criminal offenses relating to a $64 million investment scam that involved several offshore jurisdictions, including Antigua, Bermuda and the Bahamas. The convictions on April 13, 2001 followed a six-week jury trial at the U. S. District Court for the Northern District of Florida that focused on investment programs known as Hammersmith Trust, Microfund and Luxor Capital Markets.

Bahamas entities sued over alleged fraud

A multi-millionaire Canadian geophysicist has filed a lawsuit in Canada against Barclays Bank (Bahamas) and others claiming he was defrauded of US$1.5 million.Theodore Rozsa, who is in his eighties, claims to have been swindled out of his funds by conmen peddling a fake investment scheme and blames Barclays Bank and Swiss-based private bank Darier Hentsch et Cie for contributing to his loss through alleged negligence.