Privilege Wealth Plc: Liquidator’s Progress Report (2021)
Liquidator's Progress Report for Privilege Wealth Plc, prepared by David Ingram, of Grant Thornton, and filed with Companies House for England and Wales on November 24th, 2021.
Lincoln Fraser and Jared Brook involved in new financial scandal
British conmen Lincoln Fraser and Jared Brook, who masterminded the $400 million Imperial Consolidated fraud that failed in 2002, are embroiled in yet another international financial scandal involving a group that has done business under several names, including EasyKard, Saphrau, Wharfside, Quatro and G4 Group.
Insider Talking: July 6, 2010
Nevis Court of Appeals issues bizarre ruling against Millennium Financial fraud victims and in favor of their alleged tormentor (Ian Scott, who is currently under indictment in California); in a separate action, asset planners in the US allegedly portrayed Nevis as the perfect place to hide money from creditors, according to a client who claimed to have been defrauded by those selling him the plan; The U. K. Serious Fraud Office suffers another reverse as a jury acquits former Imperial Consolidated principals Jared Brook and Lincoln Fraser on one fraud count and is undecided on another; and the SFO hopes to have better luck with recently-filed fraud charges against Terry Lindon and Giles Hutchinson, who were involved in an Imperial Consolidated spin-off known as Invaro.
USA v. Dimitri Maraletos: Criminal Information
Criminal Information in USA v. Dimitri Maraletos at the U. S. District Court for the Central District of California.
USA v. Dimitri Maraletos: Plea Agreement
Plea Agreement in USA v. Dimitri Maraletos at the U. S. District Court for the Central District of California.
UK SFO decides to re-try Imperial Consolidated pair
The Serious Fraud Office in the United Kingdom confirmed to OffshoreAlert today that it will re-try former Imperial Consolidated officers Lincoln Fraser and Jared Brook for conspiracy to commit fraud.
Insider Talking: October 7, 2008
There have been two new legal developments at the U. S. District Court for the Southern District of Florida concerning the U. S. Securities and Exchange Commission's investigation into the Lancer Offshore group of hedge funds, which collapsed in 2003 after losing at least $500 million due to fraud by insiders; and The Serious Fraud Office in the United Kingdom enhanced its reputation as an ineffective law enforcement agency when it failed to secure a single conviction against three former officers of Imperial Consolidated at their High Court trial in London.
One acquittal, two no-decisions at Imperial Consolidated trial
The trial in the United Kingdom of three former officers of the Imperial Consolidated Group, which collapsed in 2002 with debts of more than $300 million, has ended without any convictions.After hearing evidence for five months and deliberating for ten days, a jury of ten people today acquitted Nicholas Fraser, 34, of one count of conspiracy to commit fraud and could not reach a verdict regarding a similar charge against his brother, Lincoln Fraser, 36, and Jared Brook, 38, even after Justice Elizabeth Gloster, sitting at Blackfriars Crown Court, in London, informed them she would accept a 9-1 majority decision.
Insider Talking: June 10, 2007
OffshoreAlert has previously reported about the incomplete and materially inaccurate disclosures of River Capital Group Inc., a Delaware corporation operated from Bermuda with a Barbados insurer as its principal subsidiary, in its filings with the SEC in the United States, where its shares are listed on the OTC BB; Marty Steinberg, the Receiver for the fraudulently-operated Lancer group of hedge funds, recently filed two more civil complaints at the U. S. District Court for the Southern District of Florida in an attempt to recover a total of $106,000 that he claims was illegally transferred out of Lancer to third-parties in 2003; An offshore reinsurer has taken action in the United States to enforce a judgment for US$347,576 it obtained against a U. S. firm at the Grand Court of the Cayman Islands; and Syrian-born arms dealer Monzer al-Kassar, an ex-business partner of the now-defunct, fraudulently-operated Imperial Consolidated Group, was arrested in Spain — where he lives — on June 7, 2007 after being indicted in the United States.
UK police raid premises in Invaro investigation
Police in the United Kingdom have raided at least three premises as part of a criminal investigation into a group whose insiders include some of the most notorious offshore fraudsters of recent years.
Invaro Latest: UK SFO opens criminal investigation, victims file civil lawsuit in Japan
The Serious Fraud Office in the United Kingdom has started a criminal investigation into the collapse of British litigation funding firm Invaro Ltd., according to two sources.
Invaro went into liquidation in June, 2004 - shortly after being exposed by OffshoreAlert - and is insolvent by approximately $145 million, according to its liquidators, Tony Murphy, Henry Shinners and Robert Horton, of British accounting firm Smith & Williamson.
Insider Talking: October 5, 2006
Two corporations formed in Florida by former Nevis-based offshore financial services provider Nigel Scott Grant did not last long; OffshoreAlert has previously reported about the propensity of Bahamas Supreme Court judge Jon Isaacs to issue rulings that are favourable to suspected crooks, particularly those accused of narcotics trafficking; The All Japan Liquor Merchants Co-operative Association filed a civil lawsuit at Tokyo District Court, in Japan on August 17, 2006 against Credit Suisse, Haruo Kusakabe, who was a Vice President, Private Banking of Credit Suisse at the time of the incident at the heart of the action, and investment broker Fabio Takeshi Sunago; The liquidators of offshore stockbroker SEGOES Services Ltd. have obtained a court judgment for US$3.9 million against the firm's principal director, John Kaweske, Jr.; and Ohio Attorney General Jim Petro filed a motion at the U. S. District Court for the District of Southern New York on October 3 requesting that the State Teachers Retirement System of Ohio be appointed lead plaintiff in a securities class action lawsuit filed in August against Scottish Re Group Ltd.
SFO requests U. S. bank records for Imperial Consolidated prosecution
The Serious Fraud Office in the United Kingdom has asked for records from a United States bank that was allegedly used to launder the proceeds of investment fraud by insiders at a now defunct offshore banking and mutual fund group.
United Kingdom: Jared Brook et al
Application for the appointment of a Commissioner to collect evidence for a criminal investigation into Jared Brook, Lincoln Fraser and others for alleged investment fraud involving the Imperial Consolidated Group.
Insider Talking: August 8, 2006
Lennox Gibbs is well-paid for his role in dubious penny stock Strategy International Insurance Group Inc.; Law firm Charles Russell and financial advisors Smith & Williamson, continue to be handsomely rewarded for their lmismanagement of the iquidation of Invaro Ltd.; and the US Senate Permanent Subcommittee on Investigations' 'Tax Haven Abuses: The Enablers, The Tools and Secrecy' is not without its humorous side.
Fraud charges brought against five former Imperial Consolidated Group insiders
Five former insiders in the Imperial Consolidated Group were today each charged with conspiracy to defraud in the United Kingdom.
The defendants are Jared Bentley Brook, 36, of Manchester, England; Lincoln Julian Fraser, 35, of Brookenby, Lincolnshire, England; his brother, Nicholas Grant Fraser, 33, of Kirton Lindsey, Lincolnshire, England; William Godley, 58, of Almancil, Portugal; and Robert Statham Raven, 46, of Usk, Gwent, Wales.
Insider Talking: April 6, 2006
Nicolas Eugene Grant St. James charged with cannabis possession in UK, a look at the record of criminal-friendly judge Jon Isaacs in the Bahamas, liquidator of Suisse Security Bank and Trust charges creditors extra if they want to receive his creditors' reports, long after denying it, Marcus Queree acknowledge's fraudster Robert Raven's involvement in the group of companies known as 'Sidera'; and a look at CFTC Chairman Reuben Jeffery III's role in one of the biggest insurance frauds in history.
Ex-Imperial Consolidated officer jailed for contempt of court
Former Imperial Consolidated Group money-raiser Robert Raven was today sentenced to four months in prison for contempt of court in the United Kingdom.
Raven, a 45-year-old British national who was Imperial's International Sales & Marketing Director, received the punishment in a civil action at the High Court for refusing to co-operate with the administrators/liquidators of five Imperial companies in the U. K. and the Caribbean, in the hunt for defrauded assets.
Insider Talking: March 6, 2006
Perhaps in an attempt to limit the negative effects of a criminal complaint and - still outstanding - arrest warrant that were issued against him for alleged investment fraud at the U. S. District Court for the District of South Carolina on March 7, 2003, British-based, Cyprus-born businessman Sendjer Shefket, 46, has started using the name ‘Sencer Sevket' in his business dealings; 2005 was a busy year for offshore-focused attorney Nigel Scott Grant, 65, in more ways than one; and Japanese victims of the Imperial Consolidated Group are finding out first-hand just how useless the United Kingdom's Serious Fraud Office is when it comes to investigating and prosecuting serious fraud.
Godley Group investment broker arrested in Japan
Japanese police today arrested the Tokyo representative of a group headed by former Bahamas resident Bill Godley for allegedly helping to swindle a pension fund out of 80% of its assets.
Fabio Takeshi Sunago, 44, was arrested along with Hideo Seki, 49, the former Secretary General of the All Japan Liquor Merchants Association, according to a report by the Kyodo News Agency.
Insider Talking: February 4, 2006
A U. S.-based professional organization for private investigators has revoked the membership of Cayman Islands-based PI William Claude C. Myles for “professional misconduct” and violations of its code of ethics; What is the going rate for climbing into bed with crooks to ‘throw' a liquidation so the bad guys can continue to profit at the expense of true creditors? Try £1,624 (US$2,870) per day!; A victim of 72-year-old serial fraudster Keem Kalfon, a.k.a. Chaim Kalfon, a.k.a. Chaim Chalfon, has set up a web-site at www.chaimchalfontaxevader.com following the collapse of his latest scheme, known as LifeStyle Master Inc.; Once again proving that there is no hiding place for financial criminals, no matter which country they flee to when looking for a rock to hide under, the U. S. Government recently arranged the deportation from Panama of accused fraudster David Alan Struckman, a co-founder of the Global Prosperity Group; and If Bahamas-based investment scam group Banakor Swisse is indeed behind several menacing telephone calls that have been anonymously made to OffshoreAlert's publisher over several months, as evidence indicates, it would not be the first time that the group has reacted crudely to an investigative journalist writing negatively about its fraudulent activities.
OffshoreAlert Awards: Best and Worst of 2005
It was the usual round of lies, broken promises, incompetence, and losses in 2005 in the murky world that OffshoreAlert forces itself to inhabit to investigate and expose financial crimes. As each year passes, it becomes increasingly obvious to us that illegal, immoral, unethical, and incompetent behavior in business are the norm, rather than the exception. OffshoreAlert has dumpster-dived through all the trash that we have found during the year, picked out the smelliest items, and used them as the basis for our ‘Best and Worst' awards.
Pension fund advised to write-off $125 m investment
A Japanese pension fund that invested 80% of its assets in a British litigation funding scam has been advised to write-off its $125 million investment.
That was the recommendation of Hori Hiroshi Law Office, which the All Japan Liquor Merchants Association hired to look into the mess and advise how to proceed.
Insider Talking: December 5, 2005
Liechtenstein-based offshore provider Bryan Jeeves and his Jeeves Group of Companies have been named as defendants in more civil lawsuits alleging racketeering that have been filed at federal courts in the United States regarding South Carolina-registered Derivium Capital LLC; Ex-Bahamas resident and former Grenada diplomat Eric Resteiner is unhappy with the way a criminal action against him is proceeding at the U. S. District Court for the District of Massachusetts, where he is defending 42 counts of fraud and 18 counts of money laundering; and In a move that shames its counterparts in the United Kingdom, Japan and other countries in Europe and the Caribbean, the Hong Kong Securities and Futures Commission has reprimanded an investment broker and suspended its major shareholder and managing director for three years for “gross negligence” and “serious misconduct” in selling investment products connected with the Imperial Consolidated Group at a time when the group - which was based in the UK and Grenada- was widely known to be suspect.
Court freezes assets of former Imperial Consolidated CEO
The High Court in the United Kingdom has issued an order freezing the world wide assets of Bill Godley, a former CEO with the Imperial Consolidated Group. It was entered on July 28, 2005 following an application by Imperial's administrators,
Fraud group cleans up in Invaro liquidation
About 80 per cent of all assets realized in the first 12 months of the liquidation of British litigation funding firm Invaro Ltd. have gone to a Canadian shell entity controlled by serial fraudster Bill Godley.
That was the statistic that jumped out of the first report to creditors and members by liquidators Tony Murphy, Robert Horton and Henry Shinners, of Smith & Williamson, on July 21, 2005.
British law firm rakes in fees for helping fraudster with Invaro scheme
A top British law firm helped a serial fraudster client - Bill Godley - set up an investment scheme that wiped out a Japanese pension fund, OffshoreAlert can reveal.
Charles Russell solicitors drew up contracts, attended a planning meeting in Portugal, helped with an offshore bank account, and was even asked to help prepare a "due diligence" report to give credibility to the scheme, known as 'Invaro'. The law firm has received more than £2 million ($3.5 million) in legal fees from Godley-related parties, including a Bahamas IBC, said a source.
Imperial victims obtain judgment against financial adviser
Husband-and-wife investors in the fraudulently-operated Imperial Consolidated Group have won a judgment for their full loss of £500,000 (US$924,769) against an independent financial adviser.
The IFA, Caroline Ockwell & Co., was found to have been negligent in recommending an unregulated offshore investment fund offering a 15 per cent annual return to retired British farming couple Edward Arthur Seymour and Pauline Mary Seymour. However, Ockwell is only liable for one-third of the judgment after it secured a judgment for two-thirds of the award against financial services firm Zurich IFA Limited, whose Isle of Man office recommended the investment product to Ockwell.
Insider Talking: April 30, 2005
The biggest creditor in the bankruptcy of Christopher Davy, who was once a senior officer of the tax evasion group The Harris Organization, is none other than the IRS; the dubious liquidation of Imperial Consolidated spin-off Invaro Ltd.; and Canadian Timothy Ryan Babuin receives an eight-year prison sentence for a telemarketing scam against mainly elderly people that ended up causing huge losses for the Bank of Bermuda and Bermuda-based credit card processor First Atlantic Commerce.
Bill Godley arrested in England
British police today arrested Bill Godley and took him away for questioning about the collapsed investment group known as Imperial Consolidated, of which he is a former CEO.
Godley, a 57-year-old South African national who is believed to reside in Portugal and South Africa, was picked up by officers in London in the early afternoon, local time.
Bahamas judge throws out Imperial Consolidated-related lawsuits, slams local law firm
Three civil lawsuits filed at Bahamas Supreme Court against Ansbacher (Bahamas) Limited by investors in the fraudulently-operated Imperial Consolidated Group - which perpetrated a $400 million investment fraud in the United Kingdom and various offshore financial centers - have been thrown out in farcical circumstances.
In a written judgment dated November 15, 2004, Justice Hugh Small was scathing about the competency of the law firm of Collie & Collie, representing all of the plaintiff investors who, OffshoreAlert understands, collectively paid it at least $80,000 in legal fees.
Ex-Imperial Consolidated officer sued for $120 m
A British national who was arrested on Christmas Eve as part of an investment fraud investigation has now had a civil lawsuit filed against him in which $120 million is being sought on behalf of alleged victims.
The action was filed at the U. K. High Court on January 5, 2005 by the liquidators/administrators of five corporate members of the Imperial Consolidated Group, which operated in England and offshore centers before collapsing in 2002 owing approximately US$400 million.
Sixth person arrested in Imperial Consolidated investigation
A sixth person has been arrested in the United Kingdom as part of an investigation by the Serious Fraud Office into the Imperial Consolidated Group, which collapsed in 2002 owing approximately $400 million.
Robert Statham Raven, a 44-year-old British national believed to reside in continental Europe, was arrested on Christmas Eve in Monmouthshire, Wales, where he was apparently spending the holidays.
Insider Talking: September 30, 2004
Three bankers who allegedly swindled their former employer, NatWest, in a deal involving Enron and a Cayman Islands registered company appeared in court in England on September 28, 2004 as they seek to avoid extradition to the United States. Gary
UK litigation funding flops try again with new group called Strathmore
Former insiders of two U. K. litigation funding scams that collapsed with combined losses of nearly $500 million are behind a recycled version of the same scheme, OffshoreAlert can reveal.
The new business - operating under the brand name 'Strathmore' - encompasses companies in the Bahamas, Canada, the United Kingdom and Africa.
Ex-Imperial Consolidated boss admits stun gun offense
The former boss of a fraudulently-operated offshore investment group has been convicted of illegally possessing two high-voltage stun guns that were found at his home in England during a raid by the UK Serious Fraud Office.
Lincoln Julian Fraser, 33, who co-founded the now-collapsed Imperial Consolidated Group, admitted possession of the guns during an appearance at Lincoln Magistrates Court, reported the Market Rasen Mail newspaper, in England.
Imperial Consolidated spin-off Invaro to go into liquidation
UK-based financial services firm Invaro Ltd. is insolvent and intends to apply for voluntary liquidation, along with two associated companies, which are believed to be Wishsprite Plc and Medico-Legal Reports Ltd.
An announcement about Invaro's demise was made yesterday - only ten weeks after an OffshoreAlert article raised concerns about Invaro's legitimacy and provided evidence of its links to the fraudulently-operated Imperial Consolidated Group.
Matrix Investigations goes into liquidation
A company secretly controlled by British fraudsters Lincoln Fraser and Jared Brook has gone into liquidation with an estimated net deficiency of £94,614 (approximately US$170,000). Matrix International (Management) Ltd., d.b.a. Matrix Investigations, went into creditors' voluntary liquidation by way of an extraordinary resolution passed by its shareholders on April 6, 2004 - nearly 19 months after being formed on September 17, 2002.
Insider Talking: March 31, 2004
A company formed by British investment fraudsters Lincoln Fraser and Jared Brook to disrupt the administration liquidation of their failed Imperial Consolidated Group, including perpetrating an asset recovery fraud against Imperial's investors, is about to go the way of most,
Group with ties to Imperial Consolidated fraudsters forms new UK-based PLC
A financial services group with close ties to fraudulently-operated Imperial Consolidated and offering similar products has formed a new public limited company in the United Kingdom.Wishsprite Plc was incorporated on September 2, 2003 - 25 days after the formation of affiliates Wishsprite Financial Services Ltd., Wishsprite Investment Services Ltd., Wishsprite Legal Services Ltd., Wishsprite Marketing Ltd., and Wishsprite UK Ltd.
UK SFO arrest five former Imperial Consolidated insiders
The United Kingdom Serious Fraud Office arrested five former insiders with the Imperial Consolidated Group during February.
Lincoln Julian Fraser, 32; David Norvel Willerton, 30, who is Fraser's boyfriend; Jared Bentley Brook, 34; and one other person, believed to be a woman, were all arrested in Lincolnshire, England, on February 3, 2004. Three properties were also raided by police.
UK SFO arrests ex-head of Imperial Consolidated (Japan)
A fifth person has been arrested in the United Kingdom by police investigating the collapse of the Imperial Consolidated Group.
Japanese national Masao Imadzu was picked up this morning as he attended a breakfast meeting in Lincolnshire, England with former Imperial boss Lincoln Fraser and other business associates.
Three former Imperial Consolidated officers arrested in UK
Three former officers of the Imperial Consolidated Group have been arrested and released on police bail in the United Kingdom, Offshorealert has been told.
Lincoln Julian Fraser, 32, and his boyfriend, David Norvel Willerton, 30, both of Binbrook, Lincolnshire, England; and Jared Bentley Brook, 34, of Grimsby, Lincolnshire, England, were all arrested and their homes raided on Tuesday, February 3, 2004, according to two sources. OffshoreAlert understands that they have not yet been charged.
UK Police raid homes of former Imperial Consolidated officers
Police in the United Kingdom have raided the home of suspected investment fraudster Lincoln Fraser, a former principal of the failed Imperial Consolidated Group.
The raid on Orford Hall on the site of an old RAF Air Station in Binbrook, Lincolnshire, England took place on Tuesday, February 3, 2004, according to two sources.
Insider Talking: January 31, 2004
Lines Overseas Management has filed a lawsuit against the Bermuda Monetary Authority in an attempt to prevent the SEC in the United States from receiving information about LOM's clients; Two alleged participants in a massive investment fraud involving Evergreen Security, which was registered in the British Virgin Islands and managed in Florida, are to be re-tried after their trial for grand larceny in the first degree ended in a hung jury; How much does failed offshore hedge fund boss and accused $600 million fraudster Michael Lauer hate Christopher Byron, the New York Post columnist who exposed his activities at the Lancer Offshore Group?; Imperial Consolidated administrator Mazars Neville Russell has reported receipts of $6.48 million and payments of $4.57 million in the five months from June 10, 2003 to December 9, 2003 for the group's principal UK company, Imperial Consolidated Financiers Ltd.; On January 19, 2004 at the British Virgin Islands High Court, Allen Wheatley, former Financial Secretary of the BVI Government, and three accomplices pleaded guilty to corruption-related charges concerning the misappropriation of funds for telecommunications projects at the Terrance B. Lettsome International Airport; Canadian television firm CBC broadcast a fascinating documentary on convicted money launderer Martin Chambers on January 13, 2004, including hidden camera footage of the undercover sting operation that led to his arrest in the 'Bermuda Short' operation conducted by the FBI and RCMP a few years ago; A liquidator of First Cayman Bank, of the Cayman Islands, announced in December 2003 that he had paid out a third interim dividend of 15 cents in the dollar on November 21, 2003 to all admitted creditors in a distribution of approximately US$4.4 million; Eduardo Masferrer, former Chairman and CEO of the now-closed Hamilton Bank N.A., of Miami, Florida, has agreed to pay $960,000 in restitution for the benefit of the Federal Deposit Insurance Corporation and $40,000 in penalties and stay out of banking for an indefinite period; Grenada-domiciled IBC Joie de Vie Ventures Inc. closed for business after taking in millions of dollars from the public by offering returns of up to 100 per cent per year; U.K. attorney Christopher Stenning's Regalia Offshore Fund Ltd., which has an affiliate in the British Virgin Islands called The Regalia Fund Ltd., did not last long; A Canadian regulatory agency has issued a warning against a sham bank doing business as "Bermuda Credit Re-Insurance Bank Ltd."; The California Division of Corporations might want to look a little more closely at Gamboa Properties Inc. before renewing its status as an 'Active' company in the state; and Two Cayman Islands law firms announced they were merging with firms in other jurisdictions during January.
Imperial Consolidated victims sue Ansbacher for US$54 million
Nearly 500 victims of the Imperial Consolidated fraud have filed a lawsuit in which they seek to hold offshore provider Ansbacher responsible for their entire losses of over £30 million (US$54 million).
The complaint was filed against Ansbacher (Bahamas) Ltd. at the Bahamas Supreme Court on January 30, 2004 by 486 plaintiffs located in several countries.
UK law firm sues Matrix International regarding apparent asset recovery scam
A British law firm has taken legal action against the operators of an asset recovery scheme that has targeted victims of the fraudulently-operated Imperial Consolidated Group.
Pinsents filed a lawsuit against Matrix International (Management) Ltd., d.b.a. Matrix Investigations, and Barclays Bank Plc at the UK High Court on December 16, 2003.
Pinsents pulls out of Imperial Consolidated scheme
A leading UK law firm has pulled out of a dubious asset recovery scheme after OffshoreAlert alerted them it was being organized on behalf of the crooks who were responsible for the loss of assets.Pinsents acted swiftly after being informed
Imperial Consolidated’s assets frozen by US Bankruptcy Court
A U. S. Bankruptcy Court in New York has issued a preliminary injunction freezing the assets of the Imperial Consolidated Group in the United States. The injunction, issued in September, 2003, also prohibits "all persons and parties in interest" from
Bank of Bermuda has close escape with Imperial Consolidated
The Bank of Bermuda, whose gross losses due to fraud over the last five years are in the region of $90 million, came close to being exposed to one of the biggest offshore scandals in recent times, if a suspected
