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Category Archives: BVI Investment Funds
Two managers of Weavering Capital fund arrested in a probe for its deals with BVI company
On Friday, May 15, Britain’s Serious Fraud Office arrested two managers of the collapsed hedge fund Weavering Capital, which is now investigated in connection with artificial inflation of its value by derivative transactions. Liquidators of Weavering Macro Fixed Income hedge … Continue reading
Joint Provisional Liquidators appointed to BVI funds linked to Madoff company
On May 8, 2009, the Eastern Caribbean Supreme Court in the British Virgin Islands made an order appointing William Tacon and Richard Fogerty of Zolfo Cooper as Joint Provisional Liquidators of the British Virgin Islands-registered funds Kingate Global Fund Limited … Continue reading
BVI investment company used to pay 5 million dollars to the Family of former South Korean president
The wife of former President of South Korea Roh Moo-hyun is suspected of being involved in the high-profile corruption scandal, and now is questioned about accepting US$1 mln from a businessman Park Yeon-cha. Kwon Yang-sook was quizzed on the matter … Continue reading
BVI-registered Madoff’s feeder funds sued for USD 255 million
The US trustee filed a complaint in the US Bankruptcy Court against Kingate Global Fund and Kingate Euro Fund, the feeder funds of Bernard Madoff. The two investment funds, registered in the British Virgin Islands, are sued for the return … Continue reading
Posted in BVI Investment Funds, Frauds, Investigation, Litigation, Ponzi scheme
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London hedge fund Weavering Capital collapsed over derivative transaction with its BVI subsidiary
On March 19 Weavering Capital, a $639m (£440m) London hedge fund, put into liquidation its main fund – Weavering Macro Fixed Income fund in the Cayman Islands. Weavering froze the fund last week, after it was discovered that it was … Continue reading
Cayman fund accused of fraud by BVI hedge funds
Two Tradex Global hedge funds registered in the British Virgin Islands, and their trading advisor, Tradex Global Advisors, have filed a civil complaint against a Cayman Islands-based Solaris Offshore Fund and its associates Solaris Opportunity Fund and Solaris Management, accusing … Continue reading
Posted in BVI Investment Funds, Frauds, Litigation
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BNP to lose cases against UBS over Madoff-linked funds based in BVI and Luxembourg
France’s biggest bank, BNP Paribas SA, lost two lawsuits seeking to force UBS AG to release a combined 2.5 million euros ($3.1 million) that had been invested with two funds linked to the arrested manager Bernard Madoff, who is accused … Continue reading
Another BVI company sued by shareholders of Madoff feeder funds
The case of Bernard Madoff, the notorious Wall Street manager who is now sued by many investment funds (including those registered in BVI) whose shareholders invested money in his companies, continues to grow. The special US trustee who tries to … Continue reading
Posted in BVI Investment Funds, Investigation, Litigation
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Hedge funds in BVI and Cayman supposed to be threatened
Some offshore analysts are warning that thousands of hedge funds registered in offshore tax havens probably will fold in 2009. The restructuring company Zolfo Cooper that makes such forecast is preparing for a surge of activity in offshore tax havens. … Continue reading
BVI hedge fund to lose over $350 mln in Madoff affair
British Virgin Islands-registered fund Auriga International Advisers has lost more than 400 mln Swiss francs ($350 mln) that were invested with the company’s main shareholder Bernard Madoff. According to the information provided by Jacques Rauber, the majority shareholder of the … Continue reading