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Third-Party Payment Processors Key to Offshore Bank Fraud, Laundering Case
By Brian Monroe
printThe sentencings today of two men, purportedly smooth talkers who lived lavish lifestyles on other people's money, closes the book on an eight-year investigation into an offshore fraud and money laundering scam that involved the bilking of more than $200 million from investors. In March, Oregon residents Laurent Barnabe and Douglas Ferguson pled guilty in U.S. District Court in Oregon to money laundering charges in connection with a Ponzi scheme run through the First International Bank of Grenada (FIBG) – an institution with few assets, controls or accounting procedures, according to Justice Department documents. U.S. District Court Judge Garr King...
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