Nancy Hoyt

Four Nevis-registered firms who were members of a sham offshore credit union have filed a lawsuit alleging they were defrauded of approximately $3.7 million in a bogus foreign currency trading scheme. Diamond Investment Group LLC, Index Management Systems LLC, Austin Enterprises LLC and Bonita Holdings LLC filed an action at the U. S. District Court for the District of Oregon on July 11, 2003.

A federal judge in Oregon has frozen the assets of several parties accused of operating an alleged foreign currency trading scam headed by former house painter Russell Cline and with ties to the Caribbean island of Dominica.