FBI arrests former Grenada bank president
Wednesday, June 2, 2004
KAMPALA, Uganda: The FBI
successfully arrested and deported two fugitives who face charges of
defrauding millions from unsuspecting investors. Both men, Gilbert A. Ziegler aka Van A. Brink, the former president of the First International Bank of
Grenada, and Douglas Ferguson were taken into custody Friday in a residential
compound in Kampala, Uganda.
The pair, along with three others, were
indicted by a federal grand jury in Portland, Oregon, on charges of defrauding
investors out of more than $200 million.
They face nearly 150 counts that include
mail fraud, wire fraud, engaging in monetary transactions with criminally
derived property and money laundering conspiracy.
They used a system of fraudulent 'banks'
that unsuspecting individuals would invest in.
Two banks, Fidelity International Bank (FIB)
and the First International Bank of Grenada (FIBG) allegedly offered investors
promised annual returns of 3 percent to 300 percent on funds deposited.
The FBI says investors never received any
interest, but were being "re-paid with their own money or that of new
investors."
"The indictment alleges that the defendants
siphoned off huge sums of money for the benefit of themselves, their family
members and their associates. They are accused of buying luxury homes in
Oregon, Nevada, Grenada and a palace in Uganda. They are also accused of
buying an organic vegetable farm in Mulino, Oregon, luxury automobiles,
furniture, jewelry, a tanning machine and designer clothing. They are also
accused of using the funds to pay for gambling, private jet rentals, travel
and college tuition," an FBI release stated.
The person arrested with Arthur Ziegler Van
Brink, last week
Douglas Ferguson, 75, an American national
who fled to Uganda after the arrest of their accomplices in the US on January
6 was also on the US wanted list for money laundering and bank fraud.
"He was the brain behind the machinations and money laundering. Records show
that he was more wanted than even Brink," a police source said.
The two were handed over to the US government security agents and repatriated
to USA for prosecution. During the arrest, a
security guard was shot dead as he tried to obstruct police entry into the
premises where Van Brink was hiding.
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