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By David Baines |
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April 20, 2000 |
Controversial
offshore banker plying B.C. waters |
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Intro: |
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A controversial U.S. businessman
who advises people on how to hide assets in offshore tax havens is
working in downtown Vancouver with a Langley man who was involved in
a major offshore stock scam several years ago.
Jerome Schneider, who has been the subject of several media exposes
including ABC-TV's 20/20 program, is working as a ''senior financial
consultant'' at Premier Corporate Services Ltd. at 1190 Hornby
Street. |
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Excerpt: |
According to
Offshore Alert, published by Miami-
based investigative journalist and private investigator
David Marchant, Randy acquired
Canadian Trade Bank, formed in Montserrat in November 1988, from WFI
Corp. for $29,500 US.
Promising returns of 14 per cent on certificates of deposit, Randy
persuaded about 400 U.S. residents to invest more than $14 million
with the bank.
In 1990, the bank's Montserrat licence was revoked by British police
due to fraudulent activity, but it didn't stop Randy. He simply paid
another $10,000 to WFI Corp. to buy a Grenada entity by the same
name.
The scheme eventually collapsed and, in April 1995, Randy was
sentenced to 15 years in jail.
Schneider promotes the sale of his offshore banks through seminars,
often held in luxurious hotels in exotic locales.
On Dec. 31, 1998, Offshore Alert
reported that Schneider had sponsored the Offshore Wealth Summit at
the Ritz Carlton hotel in Cancun earlier that month. Attendees paid
$795 US each, and one-on-one private consultations were available at
$200 per half-hour. |
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