Word: cayman
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...investigators, the four built a tax-shelter empire selling interests not only in American coal but also in distribution rights to European films and a Namibian diamond mine. They funneled investment money through a string of paper corporations with headquarters in the U.S., and such offshore havens as the Cayman Islands and Curaçao. Although the current charges concern only the coal caper, which involved write-offs totaling $150 million, sources close to the case estimate that when all the allegedly bogus tax deductions peddled by the defendants are uncovered and toted up, the U.S. may be short between...
...about him discovered that he did indeed have a connection, if only because Meltzer immediately phoned them back. Several told the New York Times that the knowledge increased their confidence in Meltzer, but some did get suspicious. Meltzer kept summoning them to distant locations-New York City, London, the Cayman Islands-to pick up their money, but produced excuses for not handing it over and for not letting borrowers meet the sheik...
Uncertainty envelops the figures because nobody has ever seen or touched these ''Eurodollars'' or any of the other ''Eurocurrencies.'' They exist only as bookkeeping entries at banks in such hot-money havens as London, Luxembourg and the Cayman Islands...
Carr was arrested in Boston on charges that he had failed to obey an order by a Michigan federal court to cease violating securities laws. After Carr was released on $100,000 bail, authorities believe, he fled to Bermuda or the Cayman islands. An FBI fingerprint check revealed that "James Carr" was really one Alan Abrahams, an escaped convict with a 22-year criminal record, who in 1974 had fled a New Jersey prison farm, where he was serving a sentence for a commodities scam. Officials say that Lloyd, Carr may have swindled investors out of as much...
...addition, Triffin believes, U.S. monetary authorities-including the Federal Reserve Board and the Comptroller of the Currency-should use their influence to persuade major U.S. banks to rein in the particularly openhanded lending policies of their foreign branches, especially in places like the Cayman Islands and the Bahamas. At present these branches are subject to few of the checks that the Government places on banks located...