Lewis Rowe v. Attorney General: Originating Summons
Originating Summons filed by Lewis Rowe against The Attorney General of the Cayman Islands at the Grand Court of the Cayman Islands.
Cayman resident indicted in the US for fraud and money laundering
Alleged Cash 4 Titles Ponzi scheme insider Patrick Thomas Tibbetts, who is currently on trial for money laundering in the Cayman Islands, has been criminally indicted in the United States.Tibbetts, a 51 year old U. S. national who lives on
Cayman authorities seek testimony of Cash 4 Titles criminals
The United States authorities have been asked to temporarily release four white-collar criminals from federal prisons so they can travel to the Cayman Islands to testify at a money laundering trial.They are Charles Richard Homa, 57; Michael Gause, 47; William Henry Black, 47; and James Albert Franklin, 36, who were all convicted of offenses involving a Ponzi scheme known as Cash 4 Titles.
Cayman Islands: Lewis Rowe et al
Application for the appointment of a Commissioner to collect evidence for a criminal investigation in the Cayman Islands into alleged money laundering by Lewis Rowe and Patrick Tibbetts regarding the Cash 4 Titles Ponzi scheme.
Cash 4 Titles receiver seeks $3.2 m from offshore firms
Two offshore entities have been named as defendants in a lawsuit filed in the United States by the Receiver of the Cash 4 Titles Ponzi Scheme, whose insolvency is more than $150 million.It has been alleged that Private Terms Ltd., c/o Morningstar Holdings Ltd., Nevis; Classic Terms Ltd., of the Cayman Islands; and their alleged owner, Gilbert M. Miller, of Duluth, Georgia, USA, profited by at least $3.2 million from the scheme.
US court freezes assets of Dominica Gov’t-controlled bank
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.
New Cash 4 Titles lawsuits filed against Bahamas firms
The Receiver of the Cash 4 Titles Ponzi scheme, which is estimated to have caused losses to investors of more than $300 million, has filed a lawsuit in the United States against three Bahamas-based firms.
Leadenhall Bank and Trust Ltd., Axxess International Ltd. and Axxess International (Bahamas) Ltd. are defendants in an action filed at the U. S. District Court for the Northern District of Illinois on November 27, 2002.
Insider Talking: October 31, 2002
In the wake of action taken by Swiss authorities against the Zurich based Sovereign Finance Group, which is being investigated for money laundering involving Russia and the Caribbean, regulators in St. Vincent & the Grenadines are taking action against Sovereign
Five years in prison for Cash 4 Titles boss Richard Homa
Another of the masterminds behind a massive investment fraud that cost the Bank of Bermuda tens of millions of dollars has been sentenced to five years in prison. Charles Richard Homa was also ordered to pay restitution of $157 million
Michael Gause sentenced to 10-plus years in prison for Cash 4 Titles scam
Michael Gause, who was one of the principals of the Cayman based Ponzi scheme known as Cash 4 Titles, has been sentenced to ten years and seven months in prison in the United States. Gause was also ordered to pay
Cash 4 Titles settlement opt-outs sue Bank of Bermuda
A new lawsuit has been filed against the Bank of Bermuda by victims of the Cash 4 Titles Ponzi scheme who have opted out of a $67.5 million settlement agreement with the bank.
More than 40 plaintiffs filed an action under the Racketeering Influenced and Corrupt Organizations Act at the U.S. District Court for the Southern District of Florida on February 11, 2002.
Cash 4 Titles businessman pleads guilty to fraud
American businessman Michael Gause has pleaded guilty to securities fraud, conspiracy to commit fraud, and money laundering charges in relation to the Ponzi scheme known as Cash 4 Titles. Gause changed his plea to guilty to six counts on January 3, 2001 and is due to be sentenced on May 4. He faces up to 20 years in prison and a fine of twice the amount lost in the scam.
Bank of Bermuda sued again over alleged $300 million Ponzi scheme, two arrested
The Bank of Bermuda has been sued again over its involvement in the alleged $300 million Cash 4 Titles Ponzi scheme that operated in the United States, the Cayman Islands and the Bahamas.
Barely a month after the bank was served with a class action lawsuit in Federal Court in Miami that was filed on behalf of victims, a second action was filed in Illinois on September 19, 2000.
Bank of Bermuda targeted in class action lawsuit
The Bank of Bermuda (Cayman) Limited is a defendant in a class action civil lawsuit filed in the United States on behalf of over 1,000 victims of an alleged $300 million Ponzi scheme known as Cash 4 Titles. The bank appears to be the 'deep pocket' of the eight named defendants in the complaint, which has been filed in Miami, Florida, under the Racketeering Influenced and Corrupt Organizations Act.
Cayman-based Ponzi scheme raised at least $45 million
At least $45 million from more than 500 investors went into a Cayman/US-based Ponzi scheme that is currently being liquidated, according to a report submitted to a US court as part of an SEC investigation. The net insolvency of the scheme, which revolved around a car title loan business called Cash 4 Titles, has not yet been determined since assets and liabilities are still being assessed.
Insider Talking: November 30, 1999
Cayman Islands Immigration Board approves Ann Nealon's work permit for Walkers law firm by a vote of two to one; Banc Caribe potential target for Cash 4 Titles victims; Antigua assures USA that William Cooper will be extradited; Scott Oliver leaves Lines Overseas Management; and Hundreds of Caribbean immigrants living in the US and residents of Dominica lose $1.2 million in investment scam.
Three Bank of Bermuda officers suspended as part of Cash 4 Titles investigation
Three officers of the Bank of Bermuda (Cayman) have been suspended on full pay pending an internal investigation into the bank's links with an alleged criminal.
The bank suspended Michael Day, Marc Vanmarsenille and David Spohr shortly after one of its clients, Michael Gause, was arrested in Florida on October 15.
Bank accounts frozen after Cash 4 Titles businessman arrested
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.
‘Legalized loan-sharking’ fund launched in Bahamas
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.