UTC listed in US$50m fraud lawsuit in NY
The Unit Trust Corporation, two foreign developers and several other corporate bodies have been sued in a New York court over a US$50 million (TT$320 million) alleged fraud involving a failed luxury villas project in the Turks and Caicos Islands.
Almost simultaneously, the UTC has won a Supreme Court judgment in the Turks and Caicos against the two developers to freeze US$85 million (TT$540 million) of their assets around the world.
In the newer lawsuit, filed on Read more [...]