Ferdinand Hoischen

A now-defunct offshore bank and two of its former principals have lost key court rulings in a fight for control of more than $5 million with the Receiver of a Ponzi scheme group known as Cash 4 Titles.

Article based on an application to collect evidence - pursuant to a request for judicial assistance from Germany - that was granted at the U. S. District Court for the Northern District of Alabama on November 26, 2003. Individuals and businesses mentioned in the request for assistance include SouthTrust Bank, Ferdinand Hoischen, Jonny Franke, Banc Caribe Ltd., AIF Bank & Trust Ltd., American Investment & Finance Corp., American Investment & Finance Service Corp., Orion Technology & Commerce Corporation, Orion Technology, Handelsgesellschaft GmbH, and Pershing Securities Ltd.

Application for the appointment of a Commissioner to collect evidence for a criminal investigation in Germany into Ferdinand Hoischen and Jonny Franke for suspected fraud and money laundering.

Nearly $5 million belonging to the government-controlled National Commercial Bank of Dominica has been frozen in the United States after an offshore bank client was found to be in contempt of court.The U. S. District Court for the Northern District of Illinois froze $4,793,472 at NCB's correspondent account at the Bank of America in Miami, Florida on July 9, 2003.

An offshore banker and an associate have been arrested in Germany on charges of perpetrating an $82 million fraud against approximately 7,000 investors, most of whom are believed to be German nationals.Ferdinand Hoischen, 53, of Vetlanda, Sweden, and Jonny Franke, 49, of Pirna, Germany, were arrested on Monday, March 31, 2003, according to a source who is familiar with the investigation.

A part owner of the latest offshore bank to be closed down in Dominica has accused regulators of acting on incorrect information supplied by disgruntled management who had been fired only days before. "The government has made a dirty deal with the old management," said Ferdinand Hoischen, a German lawyer who beneficially owns Banc Caribe with Jonas Persson, of Sweden. "This is very political."

AIF Bank and Trust Limited has had its banking license revoked in Dominica, the island's offshore regulators told OffshoreAlert.AIF Bank had been granted a provisional license on August 10, 2001 but it was revoked towards the end of July, said a regulatory spokesperson.