Spain

Privilege Wealth Plc misses filing deadline for first annual accounts

April 13, 2017

Privilege Wealth Plc, the British arm of the fraudulently-operated Privilege Wealth investment group, has missed a deadline to file its first annual accounts - the latest setback to worry investors who are believed to have invested more than $40 million.

Privilege Wealth websites go down as chaotic collapse continues

April 5, 2017

The two main websites for Privilege Wealth's fraudulent investment scheme have gone off-line as the Marbella, Spain-based group continues to collapse in chaos. The group is threatening to bring a "class action" against OffshoreAlert, which it says is "100% liable" for investors' losses, which an insider estimated to be more than $40 million.

Privilege Wealth suspends redemptions amid shooting & ‘$40m deficit’

March 31, 2017

Five months after being exposed as a fraud by OffshoreAlert, the Privilege Wealth investment scheme has collapsed, with an insider claiming there is a deficit of more than $40 million. Redemptions to investors have been suspended, Privilege Wealth's main office - a call center in Panama - has closed after the attempted murder of its boss - a fraud fugitive in Spain - and unpaid payroll and the group's registered agent in Gibraltar has resigned.

Gibraltar judge orders Privilege Wealth to produce records

March 23, 2017

A Gibraltar judge has ordered an inspection of the books and records of a limited partnership that underpins the Privilege Wealth investment group, which was exposed as a fraudulent enterprise by OffshoreAlert five months ago. The order was issued after Privilege Wealth allegedly ignored a request for inspection from one of its limited partners.

Privilege Wealth Plc v. David Marchant: Default Judgment

March 9, 2017

Default Judgment in Privilege Wealth Plc v. David Marchant at London High Court.

Theo Peers et al v. BVI Registrar of Corporate Affairs: Fixed Date Claim Form

February 10, 2017

Fixed Date Claim Form in Theo Peers and Christiane Valkenborghs v. Registrar of Corporate Affairs at the British Virgin Islands High Court.

Antonie Van Hees v. BVI Registrar of Corporate Affairs: Fixed Date Claim Form

November 28, 2016

Fixed Date Claim Form in Antonie Van Hees, as administrator of the Estate of Willem Alexander Arnold Peter Minne Endstra, v. Registrar of Corporate Affairs at the British Virgin Islands High Court.

Privilege Wealth Plc v. David Marchant: Libel Complaint

November 15, 2016

Libel Complaint in Privilege Wealth Plc v. David Marchant at London High Court.

‘Retract, clarify or we sue,’ writes Privilege Wealth’s Florida attorney

November 8, 2016

Letter to the Editor from Florida-based attorney Bradley Shraiberg, on behalf of Privilege Wealth Plc, threatening to sue OffshoreAlert if we did not publish a "retraction or clarification" of an exposé of his client.

HELIX Investment: ‘Privilege Wealth intends to sue OffshoreAlert’

November 2, 2016

Announcement on the Bermuda Stock Exchange by HELIX Investment Management SLP, of Luxembourg, that the group it raises funds for, Privilege Wealth, intends to sue OffshoreAlert for defamation regarding an article exposing Privilege Wealth as a global investment fraud.

UK’s Operation Rico turned out to be Operation PR

October 30, 2016

I long ago realized the United Kingdom is spectacularly ineffective in holding financial criminals accountable for their actions due to a mixture of incompetence, laziness, corruption, lack of resources, a poor judicial system, and a general fondness for non violent

Privilege Wealth takes down websites after OffshoreAlert exposé (then brings them back up)

October 20, 2016

Within hours of OffshoreAlert's exposé of Privilege Wealth being published last night, the fraudulently-operated global investment group took their websites offline (before bringing them back online after the first version of this article was published). The group's main websites at www.pwplc.com, www.privilegewealthlp.com and www.privilegedirect.com were temporarily unavailable.

EXPOSED: ‘Privilege Wealth’ global investment fraud

October 19, 2016

Notorious British swindler Brett Jolly is secretly behind a global investment fraud being perpetrated under the name 'Privilege Wealth', OffshoreAlert can reveal. The scheme involves a sprawling web of companies and operators in Bermuda, BVI, Cayman Islands, Curacao, Dubai, Gibraltar, Guernsey, Jersey, Luxembourg, Panama, Seychelles, South Africa, Spain, UK, and USA.

Credit Suisse Trust Ltd. v. Les Landes Investments Ltd.: Fixed Date Claim Form

September 16, 2016

Fixed Date Claim Form in Credit Suisse Trust Limited, as Trustee of The President Pacific Bonds Trusts, v. Les Landes Investments Limited at the British Virgin Islands High Court.

YH Limited: Chapter 15 Petition (England)

August 3, 2016

Chapter 15 Petition for Recognition of a Foreign Main Proceeding in the United Kingdom by Christian Henry Wells, as the Foreign Representative of YH Limited, at the U. S. Bankruptcy Court for the Southern District of New York.

Grupo Isolux Corsan SA et al: Chapter 15 Petition

July 29, 2016

Chapter 15 Petition for Recognition of a Foreign Main Proceeding in Spain by Karla Pascarella, as the Foreign Representative of Grupo Isolux Corsán, S.A., Corsán Corviam Construcción, S.A., Grupo Isolux Corsán Concesiones, S.A., and Isolux Ingenieria, S.A., at the U. S. Bankruptcy Court for the Southern District of New York.

Jose Munoz Vargas v. BVI Registrar of Corporate Affairs: Fixed Date Claim Form

July 8, 2016

Fixed Date Claim Form in Jose Munoz Vargas v. The Registrar of Corporate Affairs at the British Virgin Islands High Court.

Carlos Gerardo Dominguez Graterol v. Lakemont Inc. et al: Fixed Date Claim Form

May 2, 2016

Fixed Date Claim Form in Carlos Gerardo Dominguez Graterol v. Lakemont Inc., The Registrar of Companies, and The Financial Secretary at the British Virgin Islands High Court.

Abengoa SA et al: Chapter 15 Petition

March 28, 2016

Chapter 15 Petition for Recognition of a Foreign Main Proceeding in Spain by Christopher Morris, as the Foreign Representative of Abengoa SA, Abeinsa Asset Management SL, Abeinsa Invesriones Latam SL, Abeinsa Ingenieria y Construccion Industrial SA, Abencor Suministros SA, Negocios Industriales y Comerciales SA, Abener Energia SA, Abengoa Bioenergia SA, Abeinsa Infraestructuras Medio Ambiente SA, Abengoa Finance SA, Abengoa Concessions SL, Abengoa Solar Espana SA, Abengoa Solar New Technologies SA, Abentel Telecomunicaciones SA, ASA Desulfuracion SA, Bioetanol Galicia SA, Ecoagricola SA, Instalaciones Inabensa SA, Europea de Construcciones Metalicas SA, Siema Technologies SL, Teyma Gestion de Contratos de Construccion e Ingenieria SA, Abengoa Water SL, Abengoa Solar SA, Abengoa Greenfield SAU, and Abengoa Greenbridge SAU, at the U. S. Bankruptcy Court for the District of Delaware.

Belvedere Management firm wound-up over ‘£36 m boiler room scam’

February 19, 2016

A British affiliate of Belvedere Management Group that is ultimately-owned by Cayman Islands-domiciled Brighton SPC has been wound up "in the public interest" in London for involvement in a boiler room fraud that swindled investors out of £36 million. Another Belvedere affiliate is fighting a similar winding-up petition.

Alpine Consult Ltd. et al: Carbon Credit Network Liquidations

February 10, 2016

Press Release by the United Kingdom's Insolvency Service announcing that "19 companies involved in a giant boiler room scam to sell carbon credits to the public for investment have been ordered into liquidation in the public interest, following petitions presented by the Secretary of State for Business, Innovation & Skills", namely Alpine Consult Limited, Environmental Acquisitions Limited, Blue Horizons Trading Ltd., Burlington Energy Markets Ltd., Charles Stratton Limited, Claremont James Ltd., CNI (UK) Limited, Clear View Partnership Ltd., Eden Brown Group S.L., Enviro Associates Limited, Global Carbon Exchange Limited, Harman Royce Limited, Karlsson Chase Limited, Liberty Alternative Investments Limited, New Frontier Partnership Ltd., Oswald Bradshaw Limited, Pure Carbon Ltd., Seasaw Limited, and Strategic Carbon Solutions Ltd.,

USA v. Naadir Cassim et al: Michael Skillern’s Witness List

January 11, 2016

Michael Skillern's Witness List in USA v. Naadir Cassim, Jon Craig Nelson, Michael Skillern, and Adriana Maria Camargo, a.k.a. Adriana Palomino, at the U. S. District Court for the Middle District of Florida.

USA v. Naadir Cassim et al: USA’s Witness List

January 10, 2016

Government's Witness List in USA v. Naadir Cassim, Jon Craig Nelson, Michael Skillern, and Adriana Maria Camargo, a.k.a. Adriana Palomino, at the U. S. District Court for the Middle District of Florida.

USA v. Naadir Cassim et al: Cassim’s Witness List

January 10, 2016

Cassim's Witness List in USA v. Naadir Cassim, Jon Craig Nelson, Michael Skillern, and Adriana Maria Camargo, a.k.a. Adriana Palomino, at the U. S. District Court for the Middle District of Florida.

Benedetta Cassara De Leggio v. Claudio Leggio: Amended Originating Summons

December 15, 2015

Amended Originating Summons in Benedetta Cassara De Leggio v. Claudio Leggio (as personal representative of the late Francesco Leggio Lo Curto) at the Grand Court of the Cayman Islands.

USA v. Florian Homm et al: First Superseding Indictment

December 2, 2015

First Superseding Indictment alleging securities fraud and money laundering in USA v. Florian Homm, Todd Ficeto, Colin Heatherington, and Craig Heatherington at the U.S. District Court for the Central District of California.

Artemundi Management Ltd: Originating Application

November 24, 2015

Originating Application in the matter of Artemundi Management Limited at the Grand Court of the Cayman Islands.

Codere Finance (UK) Ltd.: Chapter 15 Petition (England)

November 11, 2015

Chapter 15 Petition for Recognition of a Foreign Main Proceeding in the United Kingdom by David Jimenez Marquez, as the Foreign Representative of Codere Finance (UK) Limited, at the U. S. Bankruptcy Court for the Southern District of New York.

Anguilla regulator suspends Drake Incubator PCC after OffshoreAlert exposé

September 23, 2015

Anguilla-based mutual fund vehicle Drake Incubator PCC - which is controlled by BVI-based Drake Fund Advisors and the Osiris Group - has been suspended from providing any licensed services to its only sub-fund - GRRE Investment Fund - after OffshoreAlert exposed one of GRRE's directors, who is part of Belvedere Management Group's global criminal financial enterprise.

Advalorem Value Asset Fund Ltd. v. Michael Kane: Judgment

September 18, 2015

Judgment in Advalorem Value Asset Fund Limited (in Administration) v. Michael Kane at Gibraltar Supreme Court.

Advalorem Value Asset Fund Ltd. v. William Redford et al: Claim Form

September 8, 2015

Claim Form in Advalorem Value Asset Fund Limited (in Administration) v. William Francis Redford, Robert Stuart Stark, Brian Weal, Advalorem Asset Management Limited, Mark Compson, Minette Compson, Gregory King, Thistle Holdings Limited, and Michael Kane at Gibraltar Supreme Court.

Advalorem Value Asset Fund Ltd. v. William Redford et al: Freezing Order Judgment

September 4, 2015

Judgment regarding freezing order application in Advalorem Value Asset Fund Limited (in Liquidation) v. William Francis Redford, Robert Stuart Stark, Brian Weal, Advalorem Asset Management Limited, Mark Compson, Minette Compson, Gregory King, Thistle Holdings Limited, and Michael Kane at Gibraltar Supreme Court.

British firm Etaireia Investments admits OffshoreAlert’s exposé was true

July 4, 2015

Three days after being exposed by OffshoreAlert, publicly-listed British firm Etaireia Investments Plc has admitted it falsely announced last year that it had received planning permission for a substantial residential development on land it owns in Scotland. The company is blaming the fraud on a former director, Stuart Black.

Trading in shares of Etaireia Investments suspended after OffshoreAlert exposé

July 3, 2015

Trading in shares of British firm Etaireia Investments Plc were suspended on the London-based ICAP Securities & Derivatives Exchange yesterday - two days after OffshoreAlert exposed the company's fraudulent activity.

Belvedere associate Brian Weal’s latest fraud: Publicly-listed Etaireia Investments

June 30, 2015

OffshoreAlert's continuing investigation into Belvedere Management Group and its affiliates has uncovered another ongoing investment fraud, this one involving British firm Etaireia Investments Plc, whose shares are listed on the London-based ICAP Securities & Derivatives Exchange and which has raised at least £1.5 million over the last 15 months.

Danish stock exchange suspends two Belvedere Group issuers

June 4, 2015

The listings of British firms Eligere Investments Plc and Fulhold Pharma Plc, which are controlled by Mauritius-based fraud group Belvedere Management, were suspended yesterday by Danish stock exchange GXG Markets.

BUSTED: British & Irish expats who help Belvedere Group swindle investors

May 22, 2015

One day after new directors were appointed to 'ensure' that Cayman-domiciled Brighton SPC would be operated legally, the Fund illegally acquired a Gibraltar firm with bogus assets of $125 million, OffshoreAlert can reveal. The transfer allowed Belvedere and its accomplices in Britain, Dubai, Gibraltar, Spain and elsewhere to continue securities frauds involving firms listed on stock exchanges in Denmark, England and Germany.

Brett Jolly Acknowledges ‘Funding’ Privilege Wealth Scheme

April 8, 2015

Email exchanges between Brett Jolly and Frank Schaefer in April, 2015 in which Jolly acknowledged, inter alia, that he had "personally funded all set up expenses" for the Privilege Wealth investment scheme.

‘Remove defamatory text’, demands convicted criminal Ali Yawar

January 17, 2015

Letter from Ali A. Yawar, a citizen of Afghanistan, resident of Spain and operator of Dunya Marbella Investments who pleaded guilty to extortion at federal court in California in 2007, demanding the removal of "defamatory text" from OffshoreAlert's web-site.

Phoenix Kapitaldienst GmbH v. The Corporation Trust Company: Letters Rogatory

December 16, 2014

Letters Rogatory in Peter Schmitt, as Administrator of Phoenix Kapitaldienst GmbH v. The Corporation Trust Company at the U. S. District Court for the District of Delaware.

Phoenix Kapitaldienst GmbH v. Deimos Corporation: Discovery Application

December 16, 2014

Application to take discovery in Frank Schmitt, as Administrator of Phoenix Kapitaldienst GmbH v. Deimos Corporation at the U. S. District Court for the District of Delaware.

United Kingdom: Peter Anthony Carroll

December 8, 2014

Application for the appointment of a Commissioner - pursuant to a request for judicial assistance by the United Kingdom - to collect evidence for a criminal investigation into Peter Anthony Carroll, a.k.a. Tony Carroll, a.k.a. Tony Leddy, and a.k.a. Dr. Tony Leddy, for suspected narcotics trafficking.

LDK Solar Co. Ltd.: Chapter 15 Petition

October 21, 2014

Chapter 15 Petition for Recognition of a Foreign Main Proceeding in the Cayman Islands by Eleanor Fisher and Tammy Fu, as the Foreign Representatives of LDK Solar Co. Ltd., at the U. S. Bankruptcy Court for the District of Delaware.

Spain: Alexander Illsen

September 8, 2014

Application for the appointment of a Commissioner to collect evidence - pursuant to a request for judicial assistance from Spain - for a criminal investigation into Alexander Illsen for suspected fraud.

Schroder & Co. Bank AG v. Mao Holdings (Cayman) Ltd.: Dismissal Order

August 5, 2014

Order of Dismissal in Schroder & Co. Bank AG v. Mao Holdings (Cayman) Limited at the Grand Court of the Cayman Islands.

CIBC Bank & Trust Company (Cayman) Ltd. v. HSL et al: Amended Originating Summons

August 4, 2014

Amended Originating Summons in CIBC Bank & Trust Company (Cayman) Limited v. HSL, CHTL, RH, CSH, JFH, TH, GH, MH, US, HRK, BC, KD, and PS at the Grand Court of the Cayman Islands.

Schroder & Co. Bank AG v. Mao Holdings (Cayman) Ltd.: Winding Up Petition

July 2, 2014

Winding Up Petition in Schroder & Co. Bank AG v. Mao Holdings (Cayman) Limited at the Grand Court of the Cayman Islands.

Spain: Juan Vicente Ferri Guardiola et al

July 1, 2014

Application for the appointment of a Commissioner to collect evidence - pursuant to a request for judicial assistance from Spain - for a criminal investigation into Juan Vincente Ferri Guardiola, Jose Salvador Baldo Llorens, Roberto Lopez Abad, and Daniel Gil Mallebrera for suspected misappropriation of the proceeds of a trust and money laundering.

Serviteck Gestion SL v. Enrique Zueco Rodrigo et al: Criminal Appeal Ruling

April 29, 2014

Final Appeal Confirming Dismissal in Serviteck Gestion SL v. Enrique Zueco Rodrigo, Enrique Zueco Ruiz, and Scott Nishoff at the Court of Appeal, Valencia, Spain.

‘Request for correction,’ from suspected money launderer Guido Vioen

March 31, 2014

Letter from Guido Vioen, an attorney in Spain and the Netherlands, requesting a "correction" regarding OffshoreAlert's publication of a request for judicial assistance filed at federal court in Florida regarding a criminal investigation into Vioen on suspicion of laundering the proceeds of narcotics trafficking by Ferenc Hendricus Jagtman and others.