Monthly Archives: April 2009

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

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Telenor case delayed by Moscow Court

The Moscow Arbitration Court announced this week that it would delay the decision on whether the seizure of 29.9 per cent stock in VimpelCom owned by Norway’s telecommunications company Telenor will be blocked. The hearing is rescheduled to the end … Continue reading

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BVI company and Gibraltar bank sued for millions linked to Madoff case

Investors are continuing to seek for $150 million linked to Bernard Madoff. On April 9, 2009 a British Virgin Islands company and a European bank of Gibraltar were sued by a special trustee who claimed it should go to reimburse … Continue reading

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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

Posted in BVI Investment Funds, Frauds, Management Fraud, Offshore investment schemes, Unethical business practice | Leave a comment