John Deuss, Tineke Deuss and Timothy Ulrich have been obliged to step down from the board of Bermuda Commercial Bank (BCB), which is listed on the Bermuda Stock Exchange. Legal authorities in Holland and Curacao are conducting an investigation at the offices of First Curacao International Bank (FCIB), and at the offices of its Dutch administrative services provider in Holland, into FCIB's involvement in alleged money laundering activities by some of its clients and whether the activities of its Dutch service provider require a banking license. The investigation by legal authorities in Holland and Curacao has impacted BCB because FCIB is a significant shareholder in BCB.
John Deuss, Tineke Deuss and Mr. Ulrich who serve as directors of FCIB have advised the board of directors of BCB that they will temporarily step aside from their responsibilities as directors and officers of BCB until this matter is resolved.
John Deuss is a maverick businessman with major intrests in oil and gas (Transworld Oil) who is now trying to build a global electronic payments processing service called Transworld Payments. Formerly resident in Bermuda he is now rumoured to be resident in the US.