Maurice Lewis Mills

No mention of SEC's securities fraud investigation in publicly-listed Lines Overseas Management's half-monthly letter to shareholders; Fraudster Maurice Lewis Mills loses a civil lawsuit that was filed against him by the Commodity Futures Trading Commission; Former offshore provider David Hampton Tedder indicted again; Former banker Mohamad Harajchi claims to have contributed $10 million to the Progressive Liberal Party to fund its successful general election campaign in the Bahamas in 2002; US Gov't tries to kick-start its stalled criminal action against Yank Barry and James Collins; Leadenhall Bank & Trust says its viability has not been affected by the loss of its MasterCard license and its legal dispute with former card administrator Axxess International over the return of millions of dollars of deposits to card-holders; and Axxess International appears to have gone out of business.

A class action complaint has been filed against online currency trading firm GAIN Capital on behalf of at least 200 people allegedly defrauded out of $10 million in a forex scam first exposed in OffshoreAlert. GAIN Capital Inc., of New Jersey, is a defendant along with an independent broker, Sterling forex LLC, and Sterling forex's principal, Maurice Lewis Mills, both of Bellevue, Washington.

Five weeks after being exposed in the September 30, 2002 edition of OffshoreAlert, Washington state based Sterling forex LLC has stopped operating and its clients have incurred substantial losses.The firm sent its clients a letter on November 15 stating that

An ordinary IBC in Nevis that operates as an unlicensed mutual fund has collapsed owing an estimated $50 million to approximately 1,100 shareholders.Approximately $100 million is believed to have gone into The Genesis Fund Ltd. but about half of it was repaid as interest payments, according to a client's representative.

A twice bankrupt businessman who once fell victim to a foreign currency exchange scam is promoting his own Forex scheme and telling participants it is "realistic" to expect monthly returns of four per cent.Maurice Lewis Mills, 37, operates Washington State-based Sterling forex LLC, which claims it has "fulfilled CFTC Compliance requirements to offer forex trading advisory services to U.S. Clients".