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Category Archives: Offshore investment schemes
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
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
Firepower’s director evidences at liquidators’ hearing
The director of Firepower Operations Pty Ltd, who also took the positions of the director and executive chairman of its parent company Firepower BVI, is giving his evidence at the liquidators’ hearing of the Firepower’s case. The Federal Court examination … Continue reading
BVI hedge fund is to be liquidated
K1 Invest Ltd., the British Virgin Islands-based hedge fund operated by German K1 group – one of the two BVI hedge funds believed to be used in a network of investment firms to transfer the money received from reputable banks, … 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
German hedge fund alleged of fraud involving BVI companies
Stefan R. Seuss, German financial manager, was arrested in his home in Miami charged of money laundering as part of global criminal investigation into the German hedge fund. The K1 Group, whose business activities became the reason of losses about … 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
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
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