U.S. ends $68M Ponzi scheme at Caribbean bank, SEC says

03/30/2009 | Miami Herald (free registration), The

The Securities and Exchange Commission uncovered and shut down what it said was a $68 million Ponzi scheme tied to Millennium Bank in the Caribbean. The SEC filed a lawsuit against Millennium Bank and its reported parent company, United Trust of Switzerland, as well as five individuals who were allegedly involved in the scheme.

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