$18.8
Million of Funds Held by HOW
DID THE FUNDS GET INTO THE ACCOUNT OF |
Although the information available to the Receiver is incomplete and preliminary, there is a substantial amount known about how the funds got into the account. The chart below indicates that the funds came from two sources: (1) investors who sent their money directly to NationsBank and (2) $20 million from account #200999 in the name of Sterling Asset Services, Ltd. at Allied Dunbar Bank in the Isle of Man. |
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Summary
of Funds Transfers:
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As the above chart
indicates $18.9 million was transferred between the two accounts at Allied
Dunbar Bank. In turn, $11.2 million of the $18.9 million came from account
#1336717 in the name of Sterling Management Services, Inc. at Bank of
Butterfield in Bermuda. In order to determine the valid claimants to the
funds, the Receiver must determine the identity of (1) the investors who
sent funds to the Bank of Butterfield; (2) the investors who sent funds
to each of the accounts at Allied Dunbar Bank; and (3) the investors who
sent funds directly to NationsBank. If you have any information please
contact the Receiver's assistant Steve Tomasky at (214) 871-2100 or stomasky@qsclpc.com.
Your assistance may help expedite the process. |
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