Jack Blum warned at a seminar in the Island last week that ‘there are a lot of troubled banks’ around the world.
He told an audience of business professionals at the Hotel de France that there was more fall-out to come from the collapse of the US sub-prime mortgage market.
He said that legal battles were now taking place over ownership of properties on which US banks granted sub-prime loans and the banks now potentially faced further huge losses.
Mr Blum was addressing the sixth annual Economic Crime Symposium arranged jointly by the Jersey International Business School and legal firm BakerPlatt.
