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$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.

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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’.

PLP using Trump’s playbook

It is quite depressing to reflect on the journey that the Republican Party has taken since the days of the American Civil War. It was once the party of Abraham Lincoln that ended slavery in the United States. Today it is the party of Donald Trump and uses anger, fear, conspiracy theories and fake news to whip up the emotions of a section of society that is shrinking and getting more desperate by the day.

Romad Dean on the rise in OSBA

ROMAD Dean continues his series of impressive performances in the second half of the Ontario Scholastic Basketball Association season.

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Giants v Cybots tonight

THE 2014 New Providence Basketball Association will again be decided between a pair of familiar foes, perennial contenders and the last two league champions.

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.

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”.

Swiss Excellence in Education leaders to meet with parents, students, officials in the Bahamas

BAHAMIAN teachers, residents and students will have an opportunity to meet face to face with some of the world’s most respected educators when a contingent representing the finest schools and colleges in Switzerland arrives in Nassau tomorrow.

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High Flyers win opener

The Breezes High Flyers soared on all cylinders last night as they flew past the Johnson’s Trucking 98-84 to snatch a 1-0 lead in the New Providence Basketball Association men’s division II best-of-five championship series.

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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.

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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

Karl McCartney and Stampeders lead the west in the CFL

NOW in his sixth season with a Canadian Football League powerhouse, Bahamian veteran Karl McCartney is continuing his role as a special teams ace and reserve linebacker.

TECH TALK

• Tech giants Facebook, Twitter and Google are taking steps to police terrorists and hate groups on their sites but more work needs to be done, the Simon Wiesenthal Center said on Tuesday.

PLP plays politics with lives

The PLP is playing politics with people’s lives.

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.

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.

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.