Marvin Deberry

Two weeks after an article in the September 30th edition of OffshoreAlert about a Bahamas-based mutual fund - Olympia Fund - that invests in a business known as Cash 4 Titles, C4T's funds were frozen following criminal and civil action in the United States.The problems came with the arrest in Fort Lauderdale on October 15 of Michael E. Gause, who helps to run the underlying business in which the fund invests.

A Bahamas-registered mutual fund has been set up to invest in a controversial industry in which high-interest loans are issued to low income people who use their pay checks and car titles as collateral.Some call it legalized loan-sharking, others call it a cash life-line to the poor. To investors in Olympia Fund Limited, though, it is, perhaps, best called a means to earning above-average returns.