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BISX-listed firm's affiliate embroiled in '$140m fraud'

The head of a BISX-listed company yesterday told Tribune Business that it had “not been impacted at the moment” by its broker/dealer subsidiary becoming embroiled in an alleged $140 million investment fraud.

Bahamas broker 'pliant' in claimed investment fraud

The broker/dealer subsidiary of a BISX-listed company has been described by US regulators as “the pliant custodian” for an investment group accused of perpetrating an $140 million fraud, one investor alleging that it also failed to respond to its asset verification requests.

‘Ride For Reine’ Trail-a-thon a success

TWENTY young riders mounted up and hit the trails with enthusiasm this past Sunday as a part of the “Ride For Reine” Trail-a-thon to raise funds on behalf of Reine Pagliaro.

Browne and Mottley: Shapers of the regional future

PRIME Ministers Gaston Browne of Antigua and Barbuda and Mia Mottley of Barbados are two of the Caribbean’s young and dynamic leaders, both workaholics with clear and determined visions for the betterment of their countries. Each of them is a committed regionalist, notwithstanding insinuations to the contrary in sections of the regional media.

BISX-listed firm's CEO faces 'grilling' over alleged fraud

The chief executive of a BISX-listed company faces a grilling from liquidators investigating an alleged multinational fraud, who are seeking information on a series of multi-million dollar transactions involving his company.

Liquidator readies control plan for Alliance accounts

Liquidators for an alleged $340 million Ponzi scheme are planning to apply to the Supreme Court for permission to gain control over six accounts they have been denied access to by a BISX-listed firm’s broker/dealer affiliate.

PwC wins battle over liquidation of alleged fraud

A huge battle over who should wind-up an alleged multi-million dollar fraud, a case that has embroiled a BISX-listed company, has ended with the Supreme Court appointing a combination of PricewaterhouseCoopers (Bahamas) and the US receiver as liquidators.

Benchmark denies 'material impact' via client's liquidation

BENCHMARK (Bahamas) yesterday said the Supreme Court-supervised liquidation of one of its key clients would “not have a material impact” on its financial position or “long-term development”, expressing confidence that it would achieve long-term business development goals.

Legal threat to $5m benchmark pref equity

Liquidators for an alleged multi-million dollar ‘Ponzi’ fraud are threatening legal action to force a BISX-listed company to unwind, and return, a $5 million investment that accounts for 100 per cent of its preference share capital.

New club, new country as Kentwan heads to Denmark

Bahamian pro basketball player Kentwan Smith is on the move again as he signed with a new club in a new country to continue his career.

100 farmers hit through tobacco grow 'scrapping'

Up to 100 farmers could be impacted by a Bahamian cigarette manufacturer’s decision to “scrap” its Andros tobacco growing plan, its chairman telling Tribune Business that conventional agriculture will also take a hit.

'Major concern' over BISX listed firm's $5m prefs

The $5 million investment in a BISX-listed firm’s preference shares “is of considerable concern” to the liquidators of its largest client, who have warned that the deal will receive their “continued attention”.

$358m penalty for fraud with Bahamas 'alter ego'

A US judge has imposed a $358 million fine on the perpetrators of an alleged multinational fraud that he found employed a BISX-listed firm’s subsidiary as its “alter ego”.

'Severely hampered' over legal action against Alliance

Liquidators for an alleged multi-million dollar Ponzi scheme have been “severely hampered” by a lack of financing in their efforts to recover a $5 million investment, and pursue legal action, against a BISX-listed company’s main affiliate.

Court 'quashes' Commission probe into BISX firm's broker

The Securities Commission is appealing a court verdict that “quashed” its bid to assess the solvency of a BISX-listed company’s broker/dealer affiliate, which is embroiled in an ongoing $340 million fraud probe.

No consumer respite despite inflation ease

As the tide of inflation in The Bahamas seems to be ebbing, it prompts reflection on what this means for the average Bahamian’s wallet.

Commission forces Benchmark into broker 'guarantee'

BISX-listed Benchmark (Bahamas) has been forced to “guarantee” its broker/dealer subsidiary will meet all financial obligations for “at least 12 months”, after regulators expressed concern over whether it was a ‘going concern’.

TOUGH CALL: When parliamentary privilege was on the other foot

According to Fred ‘This is War’ Mitchell, he will not be bound by any court of law when it comes to what he considers to be his unqualified right to say and do whatever he pleases in Parliament.

BISX listee's principal seeks SEC suit dismissal

A BISX-listed company’s principal, and its broker/dealer affiliate, are demanding that a federal regulator’s lawsuit against them be dismissed because the US courts have “no jurisdiction”.

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