A former Bahamas-based financial institution operated an “alleged Prime Bank Investment (PBI) fraud”, a UK Justice has ruled in a judgement that brands the company’s principals as “dishonest, greedy and unscrupulous,” and says he suspects much of the money came from “illicit sources.”
The savage attack on Imperial Consolidated Securities SA, which was based in The Bahamas until early 2001, and the directors of its parent company, Lincoln Fraser and Jared Brook, is made in a judgement handed down by Justice Patten in the high court of justice on March 21, in a ruling invoving UK solicitor Michael Harvey.
Mr. Harvey was appealing against the intervention in his practice by the Law Society, resulting in the loss of control of his business and suspension of his practicsing certificate, on the grounds that he was involved in “various dishonest investment schemes run by Lincoln Fraser and Jared Brook.”
Describing the case as involving “serious allegations of dishonesty”, Justice Patten dismissed Mr. Harvey’s application and ruled that the intevention should continue.
Source: The Tribune
