Vincentian National Adrian Baron Extradited To The US

Naturalised Vincentian, Adrian Baron.

The US authorities’ probe into alleged fraud at collapsed wealth firm Beaufort Securities and Loyal Bank has gathered momentum after one of the six individuals indicted by the Department of Justice pleaded guilty to a money laundering conspiracy.

Defendant Adrian Baron who is originally from Hungry but has Vincentian citizenship has been extradited from Hungary to the US.

Baron was the chief business officer at Loyal Bank, an offshore bank with outposts in Budapest and St Vincent and the Grenadines that is understood to have had business links with Beaufort.

Baron denies charges of money laundering conspiracy and conspiracy to defraud the US.

The news about the US probe into Beaufort and Loyal Bank came back in March on the same day that the Financial Conduct Authority declared the company insolvent.

Thousands of investors still have money trapped in investments with the broker, although the vast majority are expected to receive all of their money back in full.

A New York federal grand jury in April 2018 returned a superseding indictment slapping banking executives at Beaufort and Loyal Bank with more charges related to allegations, they engaged in a $50 million securities fraud and money laundering scheme.

1 Comment

  1. Why does everyone get it wrong? Adrian Baron is English from the town of Brighton in Sussex. He works for a Hungarian owned bank, he is not Hungarian.

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