U.S. Indicts and Seeks Forfeiture of Antiguan Bank for Loan Scam

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Saturday, August 1, 1998
Author: 
Bruce Zagaris
Volume: 
14
Issue: 
8
314-315
Abstract: 
On May 6, 1998, an indictment filed in the U.S. District Court in Tallahassee, Florida charges the Caribbean American Bank of Antigua and eight individuals with a loan scam that allegedly bilked more than $60 million from hundreds of people in ten countries and with related money laundering. The indictment seeks, as one of the remedies, to forfeit all the funds and assets of the bank... [more