Monday, February 23, 2009
By NEIL HARTNELL
Tribune Business Editor
TWO Bahamas residents have been allowed by the Supreme Court to reclaim - for the moment - their multi-million Ocean Club condo on Paradise Island, despite a Canadian hearing later finding they "perpetrated a fraud" that cost some 600 investors around $22 million.
Documents obtained by The Tribune show that Jeffrey Pogacher and his wife, Paola Lombardi, transferred between 31-40 per cent of the proceeds from their scheme to the Bahamas, with the funds used to purchase the condo and more than $1 million in Bahamian government bonds.
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