Douglas Ferguson

Grenada's former chief offshore regulator, Michael Creft, has admitted that the fraudulently operated First International Bank of Grenada bribed regulators and Government members, including Prime Minister Keith Mitchell. Creft has also acknowledged that he committed perjury in support of FIBG's failed

Eight years after their offshore scam was first exposed by OffshoreAlert, four former officers of the First International Bank of Grenada were sentenced yesterday to prison terms of between one-and-a-half and eight years.

USA's Sentencing Memorandum in USA v. Rita L. Regale, Douglas C. Ferguson, Robert J. Skirving, and Laurent E. Barnabe at the U. S. District Court for the District of Oregon. Editor's Note: This document is notable for its reference to testimony by Grenada's former chief financial services regulator, Michael Creft, in which he acknowledged bribery and corruption.

The cold reality of life behind bars has persuaded former offshore banker Paul Morgan Jones to start turning over his assets to the Receiver of Cash 4 Titles, which perpetrated one of the biggest Ponzi schemes in history, operating from

Two defendants face lengthy prison sentences after admitting their involvement in an investment fraud perpetrated by the First International Bank of Grenada.Robert Skirving and Rita Regale each pleaded guilty to one count of conspiracy to commit money laundering regarding FIBG's fraudulent proceeds at the U. S. District Court for the District of Oregon on July 19, 2006.

Two men who allegedly masterminded a $206 million offshore fraud and then fled to Uganda are back in the United States following a shoot-out that left a bodyguard dead.Former First International Bank of Grenada principals Van Arthur Brink, a.k.a. Gilbert Allen Ziegler, 53, and Douglas C. Ferguson, 71, were arrested by police at their residential complex in Kampala, Uganda on May 28.

Five insiders with the First International Bank of Grenada have been criminally indicted in the United States for allegedly perpetrating a scam that cost investors more than $206 million. Gilbert Allen Ziegler, a.k.a. Van Arthur Brink, a U. S. national formerly of Oregon and Hawaii, now living in Uganda; Douglas C. Ferguson, a U. S. national formerly of Oregon; Laurent E. Barnabe, a.k.a. Larry Barnabe, a Canadian national residing in Las Vegas, Nevada; Rita L. Regale, a.k.a. Rita L. Brunges, a U. S. national formerly of Hawaii; and Robert J. Skirving, a U. S. national residing in Oregon, collectively face 146 counts at the U. S. District Court for the District of Oregon.

Second Superseding Indictment in USA vs. Gilbert Allen Ziegler, a.k.a. Van Arthur Brink; Rita Regale, a.k.a. Rita Brunges; Douglas Ferguson, Robert Skirving and Laurent Barnabe, a.k.a. Larry Barnabe, at the U. S. District Court for the District of Oregon.

A petition to wind-up the First International Bank of Grenada was filed by the Grenada government on January 12, with PricewaterhouseCoopers appointed as liquidator. In the petition, the government announced that US$206 million of clients' principal went into FIBG and that an additional US$266 million of interest is owed to creditors.

Amended Emergency Motion for Preliminary Injunction in First International Bank of Grenada Ltd., International Depositors' Reinsurance Corporation Ltd., doing business as IDIC; and World Investors' Stock Exchange v. David Marchant and Offshore Business News & Research, Inc. at the U. S. District Court for the Southern District of Florida.

Emergency Motion for Preliminary Injunction in First International Bank of Grenada Ltd., of Grenada; International Depositors' Reinsurance Corporation Ltd., doing business as IDIC, of Nevis, and World Investors' Stock Exchange Ltd., of Grenada v. David Marchant and Offshore Business News & Research, Inc. at the U. S. District Court for the Southern District of Florida.

Libel Complaint in First International Bank of Grenada Ltd., of Grenada; International Depositors' Reinsurance Corporation, Ltd., doing business as IDIC, of Nevis, and World Investors' Stock Exchange, of Grenada v. David Marchant and Offshore Business News & Research, Inc. at the U. S. District Court for the Southern District of Florida.

Offshore Alert can today expose a massive fraud involving at least three banks, an insurance company and a stock exchange into which investors are believed to have invested tens of millions of dollars. Participants in the scam include the World Investors Stock Exchange in Grenada, the International Deposit Insurance Corporation in Nevis, the First International Bank of Grenada, the International Exchange Bank, which is registered in either Nauru or Grenada but operated out of Bermuda and Texas; and Fidelity International Bank, which is registered in Nauru but operated from St. Vincent.