McNamara Corporate Services

For the first time in over four years, the British Virgin Islands Financial Services Commission has published details of a fine against a licensed entity, a $20,000 penalty imposed on McNamara Corporate Services Ltd.

Public Notice by the British Virgin Islands Financial Services Commission that it has imposed a fine of $20,000 on McNamara Corporate Services Limited for regulatory breaches.

New evidence obtained by OffshoreAlert shows that THREE convicted drug dealers are beneficial owners of the British Virgin Islands-registered parent of The Harris Organization financial services group. The traffickers all own preferred shares, which purport to pay annual interest of 10% in the case of Wallace Stull and James Somerville, and 7% for Lawrence Boulanger.

The Harris Organization financial services group has set up yet another Internet bank that is being operated without a license.Operating from a web-site at www.ginvestmentgroup.com, G Investment Group claims that it is "a diversified financial services company providing clients a broad range of international structures involving financial, asset protection and investment opportunities".