NMH Saga Enters New Phase

The Special Investigator submitted his conclusions to the FSC a few days ago without some parties telling their side of the story on the ground that the appointment of Mr. Taukoordass was inappropriate. Mainstream media has leaked that there could be multiple violations of securities laws involved. And that the report has been sent to the legal adviser of the regulator for advice.

Let's see what happens next.

AGF Should Step Down

She's staying put. For now. But several opposition parties want her to go in connection with her involvement with Alvaro Sobrinho. If Collendavelloo is sacked pressure will mount for her to tend her resignation. But that might not even be necessary.

BoM Revokes Licence of Bramer Bank

Cites seriously impaired capital, conducting business which is detrimental to depositors and systemic risk and inability to show it can fix its liquidity and capital problems. The Prime Minster also held a press conference about an hour ago where he announced that his government has uncovered a huge Ponzi scheme in excess of Rs25 billions and has consequently acted quickly as Bramer Bank and BAI Co. were going to crash. Two conservators of BAI Co have been appointed while one newsgroup mentions that arrests on departure and on arrival have been lodged.