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Articles Banks & Trusts Featured First International Bank of Grenada Fraud Grenada Investment USAJanuary 31, 2001

Details of $50 m lawsuit re. Cambridge International Bank

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24 years ago

Topics

Banks & Trusts Fraud Grenada Investment USA

Keywords

Cambridge International Bank Daniel Silverman David Rowe Dieter Simonson First Heritage Savings Credit Union
First International Bank of Grenada Gerry Burns Joe Trebble Lesley-Ann Silverman Linda Pitts Maria-Louise Simonson Mark Benda Rhoda Rowe Waylon McMullen
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In one of the latest lawsuits to be filed as part of the on-going Grenada banking scandal, creditors of Cambridge International Bank & Trust claim to have been defrauded of $50 million.Cambridge, which began life as a sub-bank of the First International Bank of Grenada, offered annual interest rates of up to 51 per cent per annum, according to the complaint.