|
He didn't set out to cause
a scandal in Grenada - but then again, he had no intention of
backing down from it either.
David Marchant, who publishes a
little-known Miami newsletter called
Offshore Alert, first started raking the muck of First
International Bank of Grenada 18 months ago.
"Every stone I turned over was fraud," says
Marchant, who says a simple tip from a source set the
investigation in motion.
At first, he had little impact. Which isn't surprising, perhaps,
given that his newsletter has a readership of about 1,000.
Also worth noting, not everyone appreciated his efforts. The bank
sued him in Miami, although the case was dismissed. And Grenadian
officials reported there was nothing wrong.
So when the bank came unraveled last month,
Marchant felt vindicated. The Grenadian government -
Marchant makes no effort to mask
his disdain for its regulatory prowess - is in charge of mopping up
the mess. |
