Guilty Pleas End Grenada Bank Fraud Case

On March 28, 2007, Karin J. Immergut, U.S. Attorney for the District of Oregon, announced that Laurent Barnabe, 68, a Canadian citizen and resident of Lake Oswego, Oregon, had pled guilty to two counts of money laundering in connection with his role promoting a fraudulent investment scheme in the name of the First International Bank of Grenada (FIBG). On March 29, 2007, Douglas Ferguson, 74, of Portland, Oregon, pled guilty to a similar money laundering conspiracy charge arising out of his role in promoting FIBG. The pleas ended an eight year investigation into a complex fraud involving the FIBG ... [more]