Aug 26
2002

On August 26th, 2002, Cameron O. Bailey was convicted by a Dallas Jury of securities fraud and related securities violations in connection with his sales of Cambridge International Bank & Trust Company, LTD certificates of deposit. Cambridge was chartered in Granada, West Indies. None of the investors received return of their principal, which in many cases constituted a substantial portion of their life savings. The Securities Board worked with the United States Department of the Treasury, the Texas Department of Insurance and the Dallas Police Department in connection with the investigation of this matter. The Specialized Crimes Division of the Dallas County District Attorney's Office prosecuted the case. Mr. Bailey was remanded to jail pending sentence. No sentencing date has been set. The trial Judge was Thomas B. Thorpe and the cause numbers of the case were F000037, F000035, F000019.