3 Nov 2005

Vanuatu bank shocked at conviction of ex-director

9:07 pm on 3 November 2005

The Vanuatu based European Bank Limited has expressed surprise at the conviction against an ex-director in the USA last week for his part in an alleged 100 million dollar lottery scam.

Vanuatu citizen Robert Bohn was convicted in Memphis last week for his part in the scam, while two other ex-directors are also the subject of litigation.

One of the ex-directors, naturalised Tom Bayer, has also been charged on the basis of an alleged conspiracy to defraud customers of an ex-client, IDM Marketing Corp, in the mid-1990s.

European was just one bank which provided services to IDM but Mr Bayer says despite media hype, they were never knowingly involved in any illegal activity.

"But if they were doing something like false paying, or under paying, there is no possible way the banker knows that. That's why we're appealing. Millions of victims? People who buy lottery tickets don't all win, I mean, I don't have to tell you. Anyone who buys a lottery ticket knows that his chances of winning are not 100 percent."

Tim Bayer says he's sure the judgment will be overturned and a motion to dismiss the entire case on the basis that the charges don't comply with US law is currently the subject of an appeal.