Two United Kingdom-based former accountants have been sentenced to prison after being found guilty of perpetrating a $200 million investment fraud, in part through an offshore bank in the Caribbean. Shinder Gangar, 46, and Alan White, 49, were each sentenced to prison-terms of seven-and-a-half years at Sheffield Crown Court, in England, on April 11, 2008, comprising six years each for conspiracy to defraud and 18 months each for conspiracy to corrupt a United States official, to be served consecutively. In addition, they have both been disqualified from being company directors in the UK for 12 years.
Two British nationals have been charged with defrauding clients of companies in the Bahamas and England in a high yield investment scam.Shinder Gangar, 44, and Alan White, 47, were each charged with two counts of conspiracy to defraud at Leicester
Application for the appointment of a Commissioner to collect evidence for a criminal investigation into alleged investment fraud and money laundering by Shinder Gangar and others.
A United Kingdom-based accounting firm accused of fraud involving an offshore bank has gone into liquidation and its two partners declared bankrupt. Orders to wind-up Dobb White & Co., of Leicester and Nottingham, in England, and bankrupt Shinder Singh Gangar and Alan White were issued by the UK High Court on December 2, 2003.
A federal court in the United States has entered a $130 million judgment against a businessman who perpetrated an investment fraud using several offshore structures. The judgment, entered on June 6, 2003 at the U. S. District Court for the Western District of Virginia, requires Terry Dowdell to pay disgorgement of $121.2 million, $8.6 million in prejudgment interest and a fine of $1 million.
A business associate of the now-closed Overseas Development Bank & Trust Ltd., of Dominica, has pleaded guilty to 20 felony charges, including securities fraud, money laundering and wire fraud.The charges relate to a multi-million dollar fraudulent trading program that Terry L. Dowdell operated through his Bahamas-registered firm, Vavasseur Corporation, starting in 1998.