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Grenada has begun a
crackdown on offshore financial institutions, revoking the licences
of 17 of them in the first week of March, on the grounds that they
had broken local banking laws. Two of the main figures behind one of
the banks were reported to have been arrested a few days later in
the US.
David Rowe and Gerard Burns, of the Cambridge International Bank and
Trust, were arrested in Alabama and Arizona, respectively, as they
were about to depart for Europe, according to the Miami-based
newsletter Offshore Alert.
It said charges had been filed against them in California. |
