CRACKING THE CALYPSO CONUNDRUM – CARIBBEAN STARTS TO CLEAN UP ITS ASSET PROTECTION ACT
May 1st, 2012
BY ROBERT STOKES
CARIBBEAN jurisdictions are stereotypically seen as information black-holes whose minimal filing requirements for companies and trusts facilitate fraud.
Think Stanford International Bank and Westbond International Bank, two Antigua based vehicles for high-profile Ponzi schemes. Also, the Madoff scandal in the USA led to the liquidators of Fairfield Sentry - a British Virgin Islands (BVI) domiciled hedge fund that was among Madoff's main victims - unsuccessfully trying to claim back money from investors who had legally withdrawn money from ...
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