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Category Archives: Offshore investment schemes
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
Offshore Investment fund alleged of providing false information
Federal Judge has frozen the assets and suspended the operations of Cambridge investment fund, Locust Offshore Management LLC. The founder of the fund, Andrey C. Hicks, is accused of lying to investors about the existence of an operation in the … Continue reading
Madoff’s feeder funds’ liquidation procedure: important decision taken
The Joint Liquidators from KryS Global, a law firm working from four jurisdictions, including the British Virgin Islands, Cayman Islands, Bahamas and Bermuda, announced an important decision in the procedure of liquidation of the Fairfield Funds – Fairfield Sentry Ltd., … 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
Madoff’s feeder fund tries to recover money
Fairfield Sentry Ltd., one of Madoff’s feeder funds that transferred US$3.2 billion to him, sued a Swiss unit of Bank Morgan Stanley AG. The US fund, which is being liquidated under the supervision of the Commercial Division of the High … 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
Trustee appointed for Trio Capital Management
Corporate regulators appointed a trustee for an Australian-based Trio Capital Limited, believing US$47 million of its assets have been invested in a company registered in the British Virgin Islands. It is advised by the new trustee to make assessment of … Continue reading