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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’.

Heartbreaking loss for Bahamas

THE Bahamas men’s national team dropped a heartbreaking 84-81 loss to Mexico and now they are automatically eliminated from contention of winning the CentroBasket Tournament in Panama.

Ex-finance minister says income tax 'stable' choice

An ex-minister of state for finance yesterday backed income tax as a more "stable" and equitable alternative to the present regressive structure that is dominated by VAT and import duties.

Bahamian companies wait two years for $1m fraud recovery pay

Bahamian companies battling to recover assets lost in a $400 million financial fraud are experiencing “financial stress” themselves because they have not been paid almost-$1 million due for two years’ work.

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.

NPBA: Pirates defeat Pros, Stampers stop Titans

THE Triple K Stampers and the Caro Contractors Pirates won the New Providence Basketball Association’s double header at the AF Adderley Gymnasium on Wednesday night.The Stampers won the opener 96-85 over the Caro Contractors Titans, while the Pirates

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”.

Dames, Lightbourne to join Panthers prep programme

THE BC Christian Prep Panthers basketball programme is establishing itself as a pipeline for Bahamian talent and will add another pair of local student-athletes.

BVI court criticises Bahamas liquidators

The Bahamian liquidators for an alleged multi-million dollar international fraud have been blasted by a British Virgin Islands (BVI) judge over a “remarkable” and “gratuitous” agreement with a BISX-listed broker/dealer.

Tobacco start-up targets up to $10m first year sales

A Bahamian-owned tobacco manufacturing start-up yesterday said it was targeting $5-$10 million in first year gross sales, but warned this and employee hires could be “significantly impacted” if no Excise Tax exemption was forthcoming.

Sports Notes November 14

MACEDONIA and Golden Gates continued where they left off as the Baptist Sports Council’s defending champions, opening up the 2012 season on the winning note in the 19-and-under, co-ed and men’s divisions respectively at the Banker’s Field, Baillou Hills Sporting Complex, on Saturday.

Broker ‘acted in good faith’ on $400m fraud

A BISX-listed company’s principal, and its main broker/dealer subsidiary, are demanding that a US federal lawsuit against them be dismissed because they “acted in good faith and did not receive ill-gotten profits” from an alleged $400 million financial fraud.

BISX-listed firm’s $5m ‘recapitalise’ after SEC settles

A BISX-listed company will have to undergo a $5 million ‘recapitalisation’ as a result of the deal struck by its principal and main subsidiary to settle a lawsuit against them by US federal regulators.

NPBA: Cybots holf off Caribs 84-81, Athletico tops the Legends 104-95

THE New Providence Basketball Association (NPBA) continued its regular season at the AF Adderley Gym Wednesday night. The Mail Boat Cybots and Athletico Bahamas earned wins in the double header.

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.

Ayton helps Wildcats secure 88-82 win over Crimson Tide

THE Arizona Wildcats were locked into another close game down the stretch when they turned to their freshman phenom to deliver in the clutch. DeAndre Ayton made a pair of jumpers on consecutive possessions to help the Wildcats pull away for an 88-82 win over the Alabama Crimson Tide at the McKale Center in Tuscon, Arizona, on Saturday.

Puerto Rico leads Caribbean Amateur Golf Championships

WHILE Puerto Rico continues to lead both the Hoerman Cup and George Teale Memorial Trophy for the 2016 Caribbean Amateur Golf Championships, the Bahamas still has some work to do to at least finish in the middle of the pack when the four-day event comes to a close today.

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