This company was floated on thin air ....alot of people checked the VERY SUSPICIOUS history and were told repeatedly that everything was above board .ADVISORS were warned enough times and a greater duty of care is required in "the crime capiatl of the world " ie. San Paulo .
A Statement was issued on 06/09/05 that $294m was transferred to AMRO which was not retracted until Kroll findings .This was a false and misleading statement , no defence of any kind .
The due diligence in June would have in the most basic verification revealed that half $350m of the deposits came from a BOGUS Bank(CMB ).A simple MOODY check would reveal this especially when dealing with BRAZILIAN firm .
Never to deal with BdB is incomptence beyond explaination especially with amounts involved .
The basics were completely ignored and investors suffered as a result.
Fools gold was their wish but not with our money !
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