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A. M. Costa Rica |
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May 14, 2003 |
Genesis Fund chief now faces a
fraud probe here |
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Intro: |
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The man who headed the Genesis Fund Ltd. now has to face a criminal
charge of fraud. A spokesperson for the Costa Rican court system
confirmed Tuesday that the man, John Sherman Lipton, was taken into
custody last week at his Tango Mar home on a complaint leveled by
the fiscal or prosecutor of Pavas. |
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Excerpt: |
Last September investors were encouraged to participate in a
recovery plan that might allow them to regain their investment.
Offshore Alert said
that Rayhill Hagist, operator of a travel service here, was one of
the investors appointed to a shareholder oversight committee. |
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