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US court issues final judgment against co-defendants in Caledonian case

Nine months after the U.S. Securities and Exchange Commission negotiated a settlement with the liquidators of failed Caymanian bank Caledonian, a U.S. court has issued default judgments against the other defendants in the case.

US judge approves Caledonian settlement

A U.S. district judge for the Southern District of New York has approved a consent order between the U.S. Securities and Exchange Commission and the liquidators of Caledonian, paving the way for a settlement in the case against the bank and its brokerage for their alleged role in facilitating a number of penny stock pump-and-dump schemes.

Watchdog evaluates SEC’s lack of coordination in Caledonian case

The U.S. Securities and Exchange Commission’s Office of Inspector General is evaluating a perceived lack of coordination involving the commission’s case against Caledonian and several other cases with overlapping factual circumstances.

Sterling Trust launches new branding

Bahamas-based Sterling Global Financial, parent company of Sterling Trust (Cayman) Ltd., Sterling Bank & Trust (Bahamas) as well as several real estate funds, celebrated the launch of a new international branding for Cayman’s Sterling Trust on Feb. 22 at Grand Cayman Beach Suites.
OTC Markets Group warns investors with a skull and crossbones symbol to take extra care when investing in certain securities.

Litigation: Skype messages show Caledonian’s trading activity in penny stock frauds

Documents submitted by the U.S. Securities and Exchange Commission to a U.S. court in February have shed new light on the involvement of Caledonian executives and clients in trading securities used in four penny stock manipulation fraud schemes.

Caledonian owner wants court permission to seek SEC damages

The owner of Caledonian Bank and Caledonian Securities has filed a motion to intervene in the settlement proposed by the U.S. Securities and Exchange Commission and Caledonian’s liquidators.

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