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New Bank Fraud Wrinkle in Antigua: Russians on the Internet |
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Monday, 09 April 2007 |
European Union Bank, Antigua, which marketed itself as first offshore bank on Internet, touting Antigua's lax regulatory climate, has collapsed; depositors' money has disappeared, along with two of its Russian directors, Sergei Ushakov and Vitali Papsouev; Antigua Government belatedly issues fraud alert, after allowing bank to continue operating despite its failure to file required data and public warnings from regulators abroad; bank was founded in 1994 by Aleksandr P Konanikhin, who is charged with embezzling $8 million from Moscow bank, and by Mikhail B Khodorovsky; Antigua says it acts to prevent similar cases (M)...
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