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Category Archives: BVI Investment Funds
Liquidators bring an action against BVI fund
The liquidators of Weavering Fund’s UK operation began a civil case in London’s High Court against Magnus Peterson, CEO of Weavering and manager of its Macro Fund. Along with other employees of the fund, he is alleged of the breach … Continue reading
Madoff Trustee to file new lawsuit against BVI-based feeder funds
The trustee Irving Picard, who is trying to recover money invested by victims of Madoff’s affair into his feeder funds, among which there were BVI-registered funds, was authorized by the U.S. Bankruptcy Judge to file a $975.5 million lawsuit against … Continue reading
ARP Growth’s administrators cannot value the fund
The investors in the ARP Growth fund formally received a nil valuation of their investments, and now the losses from the fund’s manager Trio Capital Limited are to exceed US$180mln. The administrators of Trio Capital Limited, the accounting group PPB, … Continue reading
Managing director of BVI hedge funds arrested in connection with K1 Group’s probe
Two more arrests were made in connection with investigation of K1 Group’s activities. According to Dietrich Geuder, the spokesman for the Wuerzburg Prosecutors’ Office, the managing director of the British Virgin Islands-based hedge funds K1 Global Ltd. and K1 Invest … Continue reading
Seattle’s pension fund concerned over its investments in BVI- and CI-based hedge funds
The Seattle City Employees’ Retirement System (SCERS), the pension fund which is holding $1.6 billion to pay the pensions of 15,000 Seattle city workers, is trying to get back $20 million of its investment money through a several hedge funds … Continue reading
Investigation of Trio Capital’s funds’ investments continues
The ARP Growth Fund, managed by Trio Capital Limited, has invested $52 million through the British Virgin Islands in a fund of hedge funds. Trio Capital’s administrators (the accounting group PPB), which are investigating company’s managed investment schemes, were not … Continue reading
ASIC reveals new details on Trio Capital’s investments into BVI company
The Australian company Trio Capital, whose hedge fund known as Astarra Strategic Fund made $118 million investments through the British Virgin Islands-registered company EMA International, could not provide detailed information about the assets repatriated to overseas hedge funds. By words … Continue reading
Madoff’s trustee and BVI funds’ liquidator dispute can be settled in BVI court
The process of liquidation and recovery of fees to investors into the BVI-registered Kingate Global Fund Limited and Kingate Euro Fund Limited, which are sued as the funds linked to Madoff Investment Securities LLC, may cause even more problems than … Continue reading
UK Serious Fraud Office investigates BVI company related to collapsed fund
Following up an investigation of a hedge fund Weavering Capital and a related offshore firm Weavering Capital Fund Limited, registered in the British Virgin Islands, the UK Fraud Authority started to investigate sales of credit-default swaps and structured-finance products, including … Continue reading
New charges with fraud against Madoff-linked companies
On June 22, the U.S. Securities and Exchange Commission filed securities fraud charges against a prominent California investment adviser, who allegedly oversaw three funds that invested all of their assets (nearly $1 billion) with Madoff, and a NY brokerage firm … Continue reading
Posted in BVI Companies, BVI Investment Funds, Frauds
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