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.
Two more clients of The Harris Organization have been arrested in Panama and deported to their native United States to face trial on criminal charges. Anthony Vigna, 68, and his son, Joseph, 35, were arrested on November 9, 2000 as they left their homes in Panama and immediately flown to Miami, where they are being held in custody.
Marc M. Harris et Cie SA et al v. David Marchant et al: Final Judgment, Findings of Fact and Conclusions of Law
Final Judgment, Findings of Fact and Conclusions of Law in Marc M. Harris et Cie S.A., The Firm of Marc M. Harris, Inc. and Marc M. Harris Trust Company, Ltd. v. David E. Marchant and Offshore Business News & Research, Inc. at the U. S. District Court for the Southern District of Florida.
More information has come our way this month that sheds further light on the current and past turmoil of The Harris Organization of Panama, including details of liquidity problems, the conviction of another one of its clients on a drug trafficking charge and allegations of 'bounty hunting' against two of the group's officers. The financial services group, which we have previously reported as being insolvent, running a Ponzi scheme, ripping off clients and laundering the proceeds of crime, seems to be in financial trouble.