16 May 2003

Samoa-registered company sued in US over alleged fraud

11:14 am on 16 May 2003

A company which is registered as an off-shore investment business in Samoa, Orion International, has been sued in the United States for allegedly defrauding clients out of at least 9.3 million US dollars.

According to a lawsuit filed on May the 8th and made public this week, Orion's President, Russell Cline, allegedly told investors that he was placing their money in sophisticated foreign currency futures trading contracts.

Instead Mr Cline used the money to buy 8 Portland-area homes, 40 automobiles and other personal effects.

Orion is incorporated in Samoa but Mr Cline has been conducting business mainly in the US.