Larry Gandolfi

Larry Gandolfi, a former president of the long-defunct Panama-based criminal enterprise known as The Harris Organization, was today sentenced in Miami to eight months in prison for tax fraud. He has been released on bail pending a surrender date being fixed for him to begin serving his sentence.

Plea Agreement in USA v. Lawrence George Gandolfi at the U. S. District Court for the Southern District of Florida.

Costa Rica resident Larry Gandolfi, a former president of the Panama-based Harris Organization offshore criminal enterprise that collapsed in 2002 after being exposed by OffshoreAlert, is due to plead guilty to tax fraud tomorrow at federal court in Miami.

Defendant's Objections to Pre-Sentence Investigation Report in USA v. Lawrence George Gandolfi at the U. S. District Court for the Southern District of Florida.

Criminal Information in USA v. Lawrence George Gandolfi at the U. S. District Court for the Southern District of Florida.

Defendant's Sentencing Memorandum in USA v. Larry Eugene Helms at the U. S. District Court for the Southern District of Florida.

Factual Proffer in USA v. Larry Eugene Helms at the U. S. District Court for the Southern District of Florida.

Three former senior officers of The Harris Organization, which defrauded clients out of tens of millions of dollars before collapsing in 2002, are back in business in Panama. Lawrence George Gandolfi, 65, a.k.a. Larry Gandolfi Christopher Glover Davy, 60, and

Panama's government is to carry out an investigation into allegations of corruption involving its own officials and offshore crook Marc Harris, according to the local media. President Mireya Moscoso announced on August 6 that a Commission would be appointed to conduct the inquiry, reported La Prensa newspaper.

ARGENTINA, PARAGUAY and URUGUAY: Banco General de Negocios, Multibanco, Banco Comercial sagas continue; NICARAGUA and PANAMA: Following Marc Harris' steps in Nicaragua; PANAMA and COLOMBIA: Colombian scandal affects Panama; and PERU: Kroll unable to find Fujimori's money so far.

OffshoreAlert has received a letter from an Arizona based client of Grenada licensed Cornerstone International Savings and Investment Bank, which was taken over by the Grenada authorities on April 25, 2002 - AFTER the bank's principals had already disappeared without

After months of ignoring blatant illegalities, Panamanian regulators finally acted against The Harris Organization financial services group this month and suspended its business operations. However, an Order by La Comisión Nacional de Valores (National Securities Commission) was itself suspended by the Panamanian Supreme Court following an application by The Harris Organization.

Annual OffshoreAlert Awards for: Worst Regulator, Worst Regulated Jurisdictions, Lie of the Year, Coward of the Year, Crooks of the Year, Jurisdiction in Most Need of a PR Make-Over, Most Small-Minded Decision, Most Arrogant Jurisdiction, Most Stupid Comments, Here Today, Gone Tomorrow Award, and Most Responsible Regulators.

A criminal lawsuit has been filed against the head of the Costa Rica office of The Harris Organization financial services group after an elderly US investor claims she was unable to redeem her investment. Floyce Capmany, 72, who lives in Nevada, claims she is still owed $37,668 of a $70,000 investment she made through The Harris Organization's sales office in Costa Rica in 1998.

In February, Offshore Alert reported about stock manipulation allegations involving Bermuda Stock Exchange-listed Mezzanine Capital; Viktor Kozeny, the 'Pirate of Prague' who allegedly defrauded his countrymen in the former Czechoslovakia of tens of millions of dollars before fleeing, buying an Irish passport and going to live in the Bahamas, has apparently fallen out with the Grenada government, according to Grenada Today newspaper; A letter to the editor that was published in the Caymanian Compass newspaper on August 20, 1999 caused rum amusement in knowledgeable law enforcement circles; and In the ten days after we posted the Harris Organization/OBNR libel judgment on our web-site, 638 people had downloaded the entire 17 pages, making it the most popular document on the 'Free Documents' section of our web-site.

The libel trial involving The Harris Organization financial services group of Panama and Offshore Business News & Research ended on July 30 with Judge Michael Moore asking: "Where is Marc Harris?" Harris was nowhere to be seen during six days of testimony even though he was the main subject matter of the March 31, 1998 Offshore Alert article that was being complained about.

The civil libel trial between Offshore Business News & Research, Inc., which publishes this newsletter, and The Harris Organization financial services group of Panama will start at the United States District Court for the District of Southern Florida (in Miami) on July 6. After two postponements by the court because of scheduling problems, a definite date has now been set for the trial, which is scheduled to last for about one week.

The Harris Organization's libel complaint against Offshore Business News & Research, Inc, which publishes this newsletter, and the company's principal, David Marchant, is due to start on May 24 at the United States District Court for the Southern District of Florida (in Miami). We were also notified this month that the group's founder, chairman and sole owner of its common stock, Marc Harris, has been withdrawn from The Harris Organization's witness list.

The Department of Banking and Finance in Florida is investigating an alleged scam involving two insurance companies run by The Harris Organization financial services group of Panama. It has been alleged that investors were duped into investing funds with Florida-registered Lifeblood Biomedical Inc. on the grounds that their investment was fully insured by Threshold Insurance Services Ltd. and Caribbean General Insurance Corporation, which are both operated by The Harris Organization. However, following the collapse of Lifeblood Biomedical last year after raising $10 million, the insurance companies have refused to pay investors' claims, alleging that agreements on their letterhead and signed by the President of both insurers, Ilka M. Barria, are bogus.

David Marchant, the publisher of Offshore Alert, flew to the Bahamas on Wednesday, March 25 to meet with Marc Harris at the Radisson Grand Hotel in Cable Beach, near Nassau. Also present at the meeting were Larry Gandolfi, who is a salesman; Christopher Davy, head of computers; and Alan McAloon, head of trust services.

Offshore Alert can today disclose that Panama's most-hyped financial services group, known as The Harris Organization, is being run as a massive Ponzi scheme in which clients are being defrauded out of millions of dollars. The situation is so serious that The Harris Organization, which employs 150 people in Panama, is hopelessly insolvent, with net liabilities of at least $25 million, according to sources knowledgeable of the group's financial affairs.