FIBG meaning in International ?

International Miscellaneous in International . 1 month ago

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What is First International Bank of Grenada mean?

The First International Bank of Grenada (FIBG) was an offshore bank that operated between 1996 and 2000, duping thousands of people in a Ponzi scheme. Four people were indicted, the result of a collaborative effort between the FBI and the Internal Revenue Service, estimating a monetary loss from investors at over $170 million.

The scheme was first reported by David Marchant, the publisher of OffshoreAlert, a Miami-based newsletter. The bank was put in liquidation with liabilities of $473 million.

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Posted on 01 Dec 2024, this text provides information on International related to Miscellaneous in International. Please note that while accuracy is prioritized, the data presented might not be entirely correct or up-to-date. This information is offered for general knowledge and informational purposes only, and should not be considered as a substitute for professional advice.

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