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URCA engineer gains vital qualification

Waldon Russell, a case officer and electrical engineer with the Utilities Regulation and Competition Authority (URCA), is now a registrant of the Engineering Council (EC) of London.

WORLD VIEW: Scotiabank’s obligation for decades of profits

A CURIOUS double standard is bein g applied by the Bank of Nova Scotia (BNS) by its decision to sell its operations in nine Caribbean countries to Republic Financial Holdings Limited (RFHL) of Trinidad and Tobago.

Home-based education for Family Island pupils

HOME-based programmes are being implemented in Family Islands where children do not have access to early childhood education.

PETER YOUNG: Tumultuous year and passing of a statesman

SINCE this column is mainly about international affairs, it might be appropriate at the beginning of January to attempt a brief broad brush review of the year and offer some thoughts about the coming months in what has become a crisis-ridden world. But I fear that in today’s state of febrile uncertainty it would be hazardous to try to predict even the immediate future.

BISX-listed firm's affiliate embroiled in '$140m fraud'

The head of a BISX-listed company yesterday told Tribune Business that it had “not been impacted at the moment” by its broker/dealer subsidiary becoming embroiled in an alleged $140 million investment fraud.

Bahamas broker 'pliant' in claimed investment fraud

The broker/dealer subsidiary of a BISX-listed company has been described by US regulators as “the pliant custodian” for an investment group accused of perpetrating an $140 million fraud, one investor alleging that it also failed to respond to its asset verification requests.

WORLD VIEW: Cooperation, coercion and capitulation

ON March 12, the Council of the 28-nations European Union (EU) placed 15 small territories on a list of what it calls “non-cooperative jurisdictions”. What the EC considers these territories to be “non-cooperative” about reveals the raw exercise of power by the strong over the weak.

'Risk' broker may not return investor funds

There is a “legitimate risk” that a BISX-listed broker/dealer may not return funds caught up in a $340 million Ponzi scheme to their rightful owners, court documents obtained by Tribune Business have alleged.

Consumers reveal concerns to URCA

Utilities Regulation and Competition Authority (URCA) executives heard the concerns of Bahamian consumers at its recent New Providence town hall meeting.

BISX-listed firm's CEO faces 'grilling' over alleged fraud

The chief executive of a BISX-listed company faces a grilling from liquidators investigating an alleged multinational fraud, who are seeking information on a series of multi-million dollar transactions involving his company.

Collapsed entity’s $5m holding in BISX firm

Questions were last night being raised over the future viability of a BISX-listed company, after court documents disclosed that an entity accused of perpetrating a major multinational fraud held all its $5 million preference share capital.

BISX-listed firm’s affiliate in $75.5m ‘discrepancy’

There is a $75.5 million discrepancy over the sum allegedly held by a BISX-listed firm’s broker/dealer affiliate for a claimed multinational fraud, Tribune Business can reveal, with regulators having seized computers and a server from its downtown Nassau offices.

Bahamian companies wait two years for $1m fraud recovery pay

Bahamian companies battling to recover assets lost in a $400 million financial fraud are experiencing “financial stress” themselves because they have not been paid almost-$1 million due for two years’ work.

April creditors meeting urged over major fraud

The Bahamian liquidators of an alleged multinational fraud that has ensnared a BISX-listed firm’s affiliate have applied to the Supreme Court for an Order that the first creditors meeting be held during April 2013.

WORLD VIEW: The fight for a big bite of Apple’s taxes

Over the last few weeks, a trans-Atlantic war of words has been going on between the US Treasury and the European Union Commission (EC) over what amounts to ‘harmful tax competition’.

Benchmark denies 'material impact' via client's liquidation

BENCHMARK (Bahamas) yesterday said the Supreme Court-supervised liquidation of one of its key clients would “not have a material impact” on its financial position or “long-term development”, expressing confidence that it would achieve long-term business development goals.

Legal threat to $5m benchmark pref equity

Liquidators for an alleged multi-million dollar ‘Ponzi’ fraud are threatening legal action to force a BISX-listed company to unwind, and return, a $5 million investment that accounts for 100 per cent of its preference share capital.

100 farmers hit through tobacco grow 'scrapping'

Up to 100 farmers could be impacted by a Bahamian cigarette manufacturer’s decision to “scrap” its Andros tobacco growing plan, its chairman telling Tribune Business that conventional agriculture will also take a hit.

PwC wins battle over liquidation of alleged fraud

A huge battle over who should wind-up an alleged multi-million dollar fraud, a case that has embroiled a BISX-listed company, has ended with the Supreme Court appointing a combination of PricewaterhouseCoopers (Bahamas) and the US receiver as liquidators.

Liquidator readies control plan for Alliance accounts

Liquidators for an alleged $340 million Ponzi scheme are planning to apply to the Supreme Court for permission to gain control over six accounts they have been denied access to by a BISX-listed firm’s broker/dealer affiliate.

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