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Non-Tech : Auric Goldfinger's Short List

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To: scion who wrote (18969)	6/23/2008 9:03:29 PM
From: scion	Read Replies (1) of 19428

Palm Beach Office Raid Stephanie Dukes June 4, 2008 - 5:41PM cbs12.com The office of ALPS Resources Bankers is barely noticeable from outside of its location at Royal Poinciana Plaza. But investigators believe they know what was going on behind close doors. Jadoomanee Dutt Rampadaruth was taken away from Palm Beach in handcuffs Tuesday morning. His son Amal Rampadaruth is reportedly expected to turn himself in soon. Today the U-S Attorney filed formal charges against the pair in federal court. They now face a long list of charges including conspiracy, bank fraud, money laundering and tax fraud. The early morning raid stunned neighboring business owners like Faith Fleming. "We thought somebody was hurt or whatever. We had no idea." said Fleming Investigators say someone was hurt ... Dozens of businesses who put their money in the Rampadaruths' hands. We checked the website and found they offer securities, investments, accounting services. According to court documents the suspects promoted the sale of so-called "bank guarantees.They're described as letters from foreign banks guaranteeing a specified sum of money would be deposited into the holder's account, to be used as collateral for loans. Investigators say when the clients couldn't verify the guarantees were legitimate, they would try to contact ALPS for a refund, but all known requests were denied. The U-S attorney's office says the Rampadaruths never filed federal income tax returns, nor did they appear pay taxes on their income. Investigators believe various business accounts appear to have supported a luxurious Palm Beach lifestyle for the Rampadaruths and their family. Investigators confiscated business records and other evidence from four Palm Beach locations linked the Rampadaruths. "We're very shocked, very shocked ... Especially here on Palm Beach. We're a quiet, well respected area. And this time of year it's very quiet so that's why it really stood out." said Fleming Investigators estimate the Rampadaruths defrauded of their clients of at least four and a half millions dollars. They're citizens of Mauritius ... A country off the east coast of Africa. The elder Rampadaruth is being held at the Palm Beach County Jail. cbs12.com

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