fbpx

FBI Cracks Down on Belize Based Offshore Asset Protection Securities Fraud Scheme

FBI Cracks Down on Belize Based Offshore Asset Protection Securities Fraud Scheme

FBI Cracks Down on Belize Based Offshore Asset Protection Securities Fraud Scheme 150 150 Rex Securities Law

In September 2014, FBI unsealed an indictment against the operators of a $500 million fraudulent scheme designed to enable U.S. citizens to evade and circumvent U.S. securities and tax laws. Investigation of off shore tax evasion and money laundering have been on the top of the list for IRS Criminal investigators in recent years.

The individuals named in the indictment are:

  • Robert Bandfield, US citizen
  • Andrew Godfrey, citizen of Belize
  • Kelvin Leach, citizen of Bahamas
  • Rohn Knowles, citizen of Bahamas
  • Brian De Wit, citizen of Canada
  • Cem Can, citizen of Canada

Corporate defendants named are:

  • IPC Management Services
  • IPC Corporate Services
  • Titan International Securities
  • Legacy Global Markets
  • Unicorn International Securities

The charges include conspiracy to commit securities fraud, tax fraud and money laundering. Shell companies were created in Belize and Nevis, West Indies designed to conceal ownership in the stock of public US companies. According to the indictment, this enabled the fraudsters to manipulate the stock of Cannabis.Rx (CANA). Between March 27, 2014 and April 16, 2014, CANA plummeted from nearly $14 a share to fifty cents.

If you suffered losses on CANA that you purchased on the recommendation of your stock broker, you may be able to recover damages. Contact us for more information.

Rex Securities Law provides nationwide representation to investors seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.  Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Rex Securities Law

561 391 1900

%d bloggers like this: