Guernsey Secures $2.65M for Fraud Victims

A landmark receivership case has been brought to Guernsey’s Royal Court to recover the assets of a Bahamian company, Vavasseur Corp., which had swindled $121m. from investors. The funds were fraudulently obtained from investors in the US and Europe through the sale of fictitious securities and were traced to various jurisdictions. This included $2.65m. in a Guernsey bank account.

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