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Dec 18, 2014

FIU and Titan Back in Court

FIU attorneys were back in court today where they are being challenged by Titan International Securities for the release of a trove of documents seized during an operation back in September.  The application succeeds a recent order earlier this week by the Supreme Court for the discharge of confiscated documents taken from Unicorn International during the sweep.  Titan is among a number of companies which the FIU claims participated in a scheme which resulted in the laundering of a billion dollars in proceeds purportedly from securities fraud.  Six men – Belizean Andrew Godfrey, Bahamians Kelvin Leach and Rohn Knowles, American Robert Banfield and two Canadians were indicted earlier this year in Brooklyn, New York on federal securities fraud charges.  According to Senior Counsel Fred Lumor, who appeared on behalf of the FIU, a gag order remains in place despite the fact that attorneys for the respective companies have spoken with the media.

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