Overseas Development Bank and Trust

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    Dominica regulators take over Investors Bank and Trust

    Investors Bank and Trust Ltd., formerly known as Overseas Development Bank and Trust Ltd., has been taken over by regulators in its home jurisdiction of Dominica.PricewaterhouseCoopers was appointed controller of the bank on August 20, 2002 because IBT was "insolvent" and "unable to meet its obligations", according to Prime Minister Pierre Charles.

    Three offshore bankers plead guilty to money laundering

    Dominica-based offshore bankers Julien Giraud, Brian Boeger and Rodolfo Requena have all pleaded guilty to money laundering offenses at Federal Court in Miami, Florida.Giraud and Boeger were both involved with Overseas Development Bank and Trust, while Requena is the former CEO of British Trade and Commerce Bank (in Receivership).

    Updates on cases against Giraud, Boeger, Downes, Butson and Nano

    Following the convictions of William Abraczinskas and Malcolm West for money laundering only three months after their arrest, five more offshore bankers who were indicted in the same month must wait to see how the cases against them develop. Julien Giraud, of Dominica; Brian Boeger, of the United States; Richard F. Downes and Pamela Butson, who live in Spain; and Thierry Nano, formerly of St. Vincent & The Grenadines, all still have cases pending.

    Four offshore bankers arrested, two more on the run

    Four offshore bankers were arrested by United States law enforcement agencies in November and charged with money laundering.Two more have also been charged with money laundering but are still at large after warrants were issued but not executed.Those arrested were