Grenada made a concerted effort in the early 1990’s to become an offshore booking center, similar to Caribbean neighbors Anguilla and Antigua (EFSAG, 2013). The government’s offshore banking efforts suffered a significant setback in 2000 when a $17 Million USD Ponzi scheme was identified as being operated on the island (Jaquiss, 2002). By 2001, an international task force (Financial Action Task Force, FATF) had determined that efforts to increase regulation of international financial transactions (governed under the Grenada International Financial Services Authority, GIFSA) were inadequate to ensure transparency (EFSAG, 2013). As a result, the US Treasury issued a number of warnings and advisements to the international banking community to track banking transactions entering and leaving Grenada, advisements which were lifted by 2003 when the government had taken significant efforts to reduce potential abuses. (EFSAG, 2013). Since the mid 2000’s only a hand full of offshore banks have operated on the island. Surprisingly, the international hedge fund, Superfund Green, realizing a 49% decline in assets in 2009 and an additional 83% since 2009, is headquartered in Grenada under the direction of Nigel James, a Grenadian national (Superfund, 2013).