De-Risking In Jeopardy 2

Yet again another financial institution finds itself under the spotlight in Antigua & Barbuda.

This time it is the BOI Bank Corporation trading as BOI Bank.

BOI, which was formed in March 1994 and based in Antigua, is promoted as an international bank connected to the global financial services network of Grupo Financiero BOD.

According to the BOD's website, the group consists of a conglomerate of fifteen companies operating in five countries in Latin America in the banking, capital markets, insurance and health sectors.

It is chaired by Venezuelan Víctor Vargas Irausquín, who lives in the lives in the Dominican Republic and who is also believed to be the sole shareholder.

The Group is made up of: BOD Banco Universal (Venezuela), Allbank Corp (Panama), BOI Bank Corporation (Antigua and Barbuda), Banco del Orinoco NV (Curacao) and Bancamérica (Dominican Republic). In the capital market, BOD Securities Casa de Bolsa (Venezuela), Plus Capital Market (Panama), Plus Capital Market (Dominican Republic) and BOD Mutual Funds (Venezuela). In the insurance sector, Seguros La Occidental and in health services, Global Care, Salud Care and Planinsa, all Venezuelan companies. The group also includes Pymefactoring (Venezuela)...