South Africa

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.

Mauritius regulator acts against another Belvedere Management company

July 24, 2015

Offshore stockbroker CityGate Securities Limited, which is part of the fraudulently-operated Belvedere Management Group, has had its license suspended by the Mauritius Financial Services Commission.

Belvedere Fund had €67 m of doubtful assets, says auditor BDO

July 8, 2015

More than one-third of the nearly €200 million of assets reported by one of Belvedere Management Group's offshore fund vehicles in 2013 was doubtful, according to auditor BDO (Mauritius).

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.

Belvedere’s Kijani Resources goes into liquidation in Gibraltar

June 26, 2015

Kijani Resources Limited, which is a key component of international investment frauds committed by Irishman David Cosgrove's and South African Cobus Kellermann's Belvedere Management Group, has gone into liquidation in Gibraltar.

Caribbean Island Developments Ltd. et al v. RE/MAX Cayman Islands et al: First Amended Complaint

June 12, 2015

First Amended Complaint in The Joint Official Liquidators of Caribbean Island Developments, Ltd., both as liquidator of CID and as successor-in-interest to Richard Allen, Dr. Byong Uk Chung, Ted V. Clark, Jill Bowers-Destro, Joseph Anthony Destro, Kevin Gildner, Tony Jenkins, Joy La France, Thomas Leidell, Nancy Leidell, Joan Link, Ken Liss, Martin McCarthy, Patrizia McCarthy, John Mikutowicz, Jack Neilsen, Gitte Neilsen, Jonathan Parker, Cheryl Parker, Marcus Pender, Mary J. Shanahan, Douglas Spencer, Kathleen Spencer, Richo Strydom, G. David Thomas, Mike Thomas, and Christopher Curlew Tribelhorn, v. RE/MAX Holdings, Inc., RMCO LLC, RE/MAX, LLC, Simba Ltd., d.b.a. RE/MAX Cayman Islands; Kim Lund, James Bovell, Oliver DeHart, and Michael Beggs at the U. S. District Court for the Northern District of Illinois.

Belvedere Fiduciary’s license suspended by Mauritius regulator

June 6, 2015

Citing 'breach of fiduciary duty', the Mauritius Financial Services Commission has suspended the license of trust company Belvedere Fiduciary Limited, which is part of a rapidly-disintegrating fraudulent global business empire controlled by Irish business consultant David Cosgrove and South African fund manager Cobus Kellermann.

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.

Belvedere’s Brighton SPC taken over by Cayman regulator

June 2, 2015

Belvedere Management Group fund vehicle Brighton SPC, which was exposed as a fraud by OffshoreAlert 11 weeks ago, has been taken over by the Cayman Islands Monetary Authority following the completion of a "forensic examination" by the regulator.

Brighton SPC: Appointment of Controllers

June 1, 2015

Public Notice by the Cayman Islands Monetary Authority that controllers have been appointed for Brighton SPC.

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.

USA v. Jeffrey Webb et al: Criminal Indictment

May 20, 2015

Indictment in USA v. Jeffrey Webb, Eduardo Li, Julio Rocha, Costas Takkas, Jack Warner, Eugenio Figueredo, Rafael Esquivel, Jose Maria Marin, Nicolas Leoz, Alejandro Burzaco, Aaron Davidson, Hugo Jinkis, Mariano Jinkis, and Jose Margulies, a.k.a. Jose Lazaro, at the U. S. District Court for the Eastern District of New York.

Minette Compson: Disqualification (Gibraltar)

April 30, 2015

Decision Notice by the Gibraltar Financial Services Commission disqualifying Minette Compson for being "not a fit and proper person".

Minette Compson et al v. Gibraltar Financial Services Commission: Judgment

April 29, 2015

Judgment in Minette Compson and Brian Peter Weal v. Gibraltar Financial Services Commission at Gibraltar Supreme Court.

Belvedere’s David Cosgrove & Cobus Kellermann lambasted by Guernsey regulator

April 24, 2015

A Guernsey regulator has essentially portrayed Belvedere Management Group principals David Cosgrove and Cobus Kellermann as serial fraudsters with little or no regard for the well-being of investors who, including other funds around the world, have entrusted them with hundreds of millions of dollars and possibly billions since the group began in or around 2008.

Three Belvedere Management Group funds closed down by Guernsey regulator

April 24, 2015

Three Belvedere Management Group fund vehicles - The Global Mutual Fund PCC, The Worldwide Mutual Fund PCC and The Universal Mutual Fund ICC - were today forced into administration by their local regulator in Guernsey, with similar applications against two affiliates, Trinity Global Fund and Lancelot Management Limited, adjourned to a later date.

Guernsey FSC v. Lancelot Management Ltd. et al: Paul Yabsley Affidavit

April 22, 2015

Affidavit by Paul Yabsley, Senior Analyst in the Enforcement Division of The Guernsey Financial Services Commission, in The Guernsey Financial Services Commission v. Lancelot Management Limited, The Global Mutual Fund PCC Limited, The Universal Mutual Fund ICC Limited, The Worldwide Mutual Fund PCC Limited, and The Trinity Global Fund at The Royal Court of Guernsey.

CH Trustees SA v. Omega Services Group Ltd. et al: Claim Form

April 17, 2015

Claim Form in CH Trustees SA, as Trustee of the Maple Leaf Trust, v. Omega Services Group Limited, Falcon House UHV (BVI) Limited, Mechiel Georg Kotze and Ian Paulus Van Zyl (as Trustees of the De Witt Trust), and Cannon Bridge Holdings Limited at the British Virgin Islands High Court.

Maxcrest Ltd. v. The Registrar of Corporate Affairs et al: Fixed Date Claim Form

April 1, 2015

Fixed Date Claim Form in Maxcrest Limited v. The Registrar of Corporate Affairs and The Financial Services Commission at the British Virgin Islands High Court.

Belvedere Management’s London unit ‘like Wolf of Wall Street’, says former employee

March 31, 2015

Victims of Belvedere Management Group's global fraud scheme were pouring so much money into its London division that 33-year-old boss Anthony Constantinou regularly threw huge wads of cash up in the air for employees to grab as it rained down or scoop from the floor while on their hands and knees, according to a former employee.

Mauritius regulator closes down RDL Management after OffshoreAlert exposé

March 30, 2015

The Mauritius Financial Services Commission today closed down a third company that was exposed by OffshoreAlert 13 days ago as being part of a massive investment fraud perpetrated by Belvedere Management Group. RDL Management Ltd. had its 'Collective Investment Scheme Manager License' suspended and was placed into administration.

RDL Management Ltd.: Appointment of Administrators

March 30, 2015

Public Notice by the Mauritius Financial Services Commission announcing the appointment of Joint Administrators of RDL Management Ltd., which is co-owned by David Cosgrove and Cobus Kellermann and is part of the Belvedere Management Group.

RDL Management Ltd.: License Suspension

March 30, 2015

Public Notice by the Mauritius Financial Services Commission announcing the suspension of Collective Investment Scheme Manager License of RDL Management Ltd., which is co-owned by David Cosgrove and Cobus Kellermann and is part of the Belvedere Management Group.

Cayman realtors sued for alleged $5 m ‘Island Resort Project’ fraud

March 26, 2015

Cayman Islands real estate firm RE/MAX and its two principals, Kim Lund and James Bovell, are being sued in the United States for allegedly defrauding 30 investors out of more than $5 million in a Cayman property scheme known as 'Island Resort Project'.

Jacobus Kellermann: Press Release (2015)

March 26, 2015

Press Release by the South Africa Financial Services Board disclosing two regulatory investigations into Jacobus Kellermann in Guernsey and Mauritius.

Cayman hedge fund Brighton SPC suspended in aftermath of Belvedere Management Group exposé

March 22, 2015

Cayman Islands-domiciled hedge fund Brighton SPC has been suspended by its directors, David Egglishaw and John Cullinane, after OffshoreAlert revealed it was part of a criminal financial enterprise operated by Mauritius-based Belvedere Management Group.

Mauritius regulator closes down two Belvedere Management fund companies

March 21, 2015

Two key investment fund companies operated by Belvedere Management Group - Lancelot Global PCC and The Four Elements PCC - have had their business licenses revoked in Mauritius - four days after the group was exposed as a massive criminal enterprise by OffshoreAlert.

Felix Fischer v. Sango Capital Management et al: Ruling

March 20, 2015

Ruling in Felix Fischer v. Sango Capital Management and Sango CIP LP at the Grand Court of the Cayman Islands.

EXPOSED: Belvedere Management’s massive criminal enterprise

March 17, 2015

Offshore fund group Belvedere Management, which claims to have $16 billion of assets under administration, management and advisory, appears to be one of the biggest criminal financial enterprises in history, headed by David Cosgrove, Cobus Kellermann and Kenneth Maillard, OffshoreAlert can reveal.

SEC v. Verdmont Capital S.A.: Verdmont’s Opposition to Asset Freeze

February 24, 2015

Verdmont Capital's opposition to SEC's asset freeze application in U. S. Securities and Exchange Commission v. Caledonian Bank Ltd., Caledonian Securities Ltd., Clear Water Securities, Inc., Legacy Global Markets S.A. and Verdmont Capital S.A. at the U. S. District Court for the Southern District of New York.

Felix Fischer v. Sango Capital Management et al: Originating Summons

January 6, 2015

Originating Summons in Felix Fischer v. Sango Capital Management and Sango CIP LP at the Grand Court of the Cayman Islands.

Kastriot Ismailaj v. Debt International Advisory Ltd. et al: Fixed Date Claim Form

December 29, 2014

Fixed Date Claim Form in Kastriot Ismailaj v. Debt International Advisory Limited, Rebecca Gaskin Gain, and Jonathan Eldridge at the British Virgin Islands High Court.

USA v. Jose Hawilla et al: Criminal Information

December 12, 2014

Criminal Information in USA v. Jose Hawilla, Traffic Sports USA, Inc., and Traffic Sports International, Inc. at the U. S. District Court for the Eastern District of New York.

Harjeev Singh Kandhari v. Al Dobowi Investments Ltd.: Liquidation Application

October 3, 2014

Liquidation Application in Harjeev Singh Kandhari v. Al Dobowi Investments Limited at the British Virgin Islands High Court.

New World Resources NV: Chapter 15 Petition

July 30, 2014

Chapter 15 Petition for Recognition of a Foreign Main Proceeding in the United Kingdom by Boudewijn Wentink, as the Foreign Representative of New World Resources NV, at the U. S. Bankruptcy Court for the Southern District of New York.

USA v. Charles Blazer: Criminal Information

November 25, 2013

Criminal Information in USA v. Charles Blazer, a.k.a. Chuck Blazer, at the U. S. District Court for the Eastern District of New York.

Taylor Moor ‘victim’ of Axiom Legal Financing Fund, says boss

June 27, 2013

Taylor Moor Ltd., which received commissions of more than £1.8 million from distributing Axiom Legal Financing Fund before going into liquidation last month, did not ultimately benefit from the Fund and is a "victim", says the firm's Managing Director, Malcolm Dixon. 

Isle of Man FSC v. Louis Group Structured Fund PLC et al: Judgment

February 1, 2013

Judgment in Isle of Man Financial Supervision Commission v. Louis Group Structured Fund PLC, Louis Group Structured Capital Limited, LG SP Investments Ltd., Louis Group International (Europe) Limited, Louis Group SLN Limited, Louis Group (IOM) Limited and Louis Asset Management SA at the Isle of Man High Court.

Dr. Harry Peeler v. British Medical Trust Company Ltd. et al: Complaint

October 24, 2011

Complaint in Dr. Harry Peeler v. British Medical Trust Company Ltd., Cathy Freeman, Beth M. Freeman, Daniel Bartlett, Global Biohealth Solutions Ltd., Ryan Ferreira, and Paul Freeman at the U. S. District Court for the Western District of Tennessee.

Anton Stoeckl v. Bank of New York Mellon et al: Discovery Application (Austria & Germany)

September 14, 2011

Application by Anton Stoeckl, of Canada, described as "a victim of an international banking fraud involving money laundering, tax evasion, fraud and conspiracy to defraud scheme involving hundreds of millions of dollars", to take discovery from Bank of New York Mellon, HSBC Bank, Credit Suisse, Credit Suisse First Boston, UBS, Deutsche Bank AG, Barclays Bank, and Citibank, for use in legal proceedings in Austria and Germany, filed at the U. S. District Court for the Southern District of New York.

Providers of nominee services sued by alleged fraud victims

June 24, 2011

Offshore providers who allegedly supplied nominee officers and directors for firms accused of perpetrating a $16 million fraud have been added as defendants to a civil lawsuit filed by alleged victims.

Lincoln Fraser and Jared Brook involved in new financial scandal

June 24, 2011

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.

Abdul Hussain Jaffar Rahmatallah Al Lawati et al v. Montague Morgan Slade Ltd. et al: Second Amended Complaint

April 18, 2011

Second Amended and Supplemental Complaint filed by Abdul Hussain Jaffar Rahmatallah Al Lawati , Martin Baerschmidt, Guy Coghlan, Colin Jobe, Kevin Kapland, Vinico Fashion LLC, David Shaun Killa, Maheshchandra Purshottam Pawani, Michael Peers, MK Investment Services Limited, Mutrah Insofoam Co. (S.A.O.C.), Paulo Alexandre Da Costa Pereira, Steel Panel LLC, Ramesh Sajnani, Tulsidas Sajnani and Don Surrendra against Montague Morgan Slade Ltd., Anthony Heald; Julia Heald, Michael Brown; Brown Family Trust; Gordon Spedding; Mo-Mo-Mama Direct Access Trading; Mo-Mo Mama Ltd.; Mo-Mo-Mama Direct Access Trading LLC; Montague Morgan Slade Absolute Performance Fund Plc; Montague Morgan Slade Highly Diversified Fund Plc; Montague Morgan Slade 1095 Fund Plc; MMS Private Clients; MMS Private Clients FZE; MMS Private Clients FZC; Montague Morgan Slade Limited (Hong Kong); M.F. Montague Morgan Slade; Montague Morgan Slade Holdings Limited; Montague Morgan Slade S.L.; Micklegate Investments (BVI) Ltd.; Mark Hilliard; Mark Hilliard & Company; Peter Rigby: JST Lawyers; Keith Park Solicitors, B.M.H. Management S.A., SCF Secretarial Services S.A., ExPat Solutions Group; Emirates FX; Stephen White; Martin Kinsey; Vincent Hillsdon, Alan Toal, Coutts De Vere Holdings; Coutts De Vere Systems, Ltd.; Euroamerican Financial Association Ltd.; IP Investments Limited; Debra Ann Steel; Winfox Consulting; William P. Bonney; and G. Bonney at New York State Supreme Court.

Irving Picard v. Sonja Kohn et al: Unredacted Amended Complaint

February 3, 2011

Unredacted Amended Complaint filed by Irving Picard, as Trustee for the Liquidation of Bernard L. Madoff Investment Securities LLC, against Sonja Kohn, a.k.a. Sonja Blau, a.k.a. Sinja Kohn, a.k.a. Sinja Blau, a.k.a. Sinja Turk; Erwin Kohn, Netty Blau, Robert Alan Kohn, Rina Hartstein (nee Kohn), Moishe Hartstein, Mordechai Landau, Erko Inc., Palladium Capital Advisors LLC, Windsor IBC Inc., Eurovaleur Inc., Infovaleur Inc., Tecno Development & Research Srl, Mariadelmar Raule, Tecno Development & Research Ltd., Shlomo (Momy) Amselem, Hassans International Law Firm, Herald Asset Management Ltd., Franco Mugnai, Paul de Sury, Daniele Consulich, 20:20 Medici AG, f.k.a. Bank Medici AG, Absolute Portfolio Management Ltd., MediciFinanz Consulting GmbH, Medici Srl, Medici Cayman Island Ltd., Bank Medici AG (Gibraltar), ReviTrust Services Est., Peter Scheithauer, Robert Reuss, Helmuth Frey, Manfred Kastner, Josef Duregger, Andreas Pirkner, Werner Tripolt, Andreas Schindler, UniCredit Bank Austria AG, Gerhard Randa, Stefan Zapotocky, Friedrich Kadrnoska, Ursula Radel-Leszczynski, Werner Kretschmer, Wilhelm Hemestberger, Harald Nograsek, Bank Austria Worldwide Fund Management Ltd., Bank Austria Cayman Islands Ltd., UniCredit SpA, Alessandro Profumo, Gianfranco Gutty, Pioneer Global Asset Management SpA, Sofipo Austria GmbH, M-Tech Services GmbH, Brera Servizi Aziendale Srl, Redcrest Investments Inc., Line Group Ltd., Line Management Services Ltd., Line Holdings Ltd., and Herald Consult Ltd. at the U. S. Bankruptcy Court for the Southern District of New York.

In the Matter of Heriot African Trade Finance Fund Limited(2)

November 26, 2010

Re Re Amended Winding Up Petition filed In the Matter of Heriot African Trade Finance Fund Limited at the Grand Court of the Cayman Islands.

In the Matter of Heriot African Trade Finance Fund Limited

November 17, 2010

Amended Notice of Originating Motion filed In the Matter of Heriot African Trade Finance Fund Limited at the Grand Court of the Cayman Islands.

Nortel GmbH et al: Chapter 15 Petition

October 20, 2010

Chapter 15 Petition for Recognition of a Foreign Main Proceeding in the United Kingdom by Alan Bloom, Christopher Hill, Alan Hudson, Stephen Harris, and David Hughes, as the Foreign Representative of Nortel GmbH, Nortel Networks (Austria) GmbH, Nortel Networks (Ireland) Limited, Nortel Networks AB, Nortel Networks BV, Nortel Networks Engineering Service Kft, Nortel Networks France SAS, Nortel Networks Hispania, SA, Nortel Networks International Finance & Holding BV, Nortel Networks NV, Nortel Networks OY, Nortel Networks Polska Sp. zoo, Nortel Networks Portugal SA, Nortel Networks Romania SRL, Nortel Networks SA, Nortel Networks SpA, Nortel Networks Slovensko, sro, and Nortel Networks, sro, at the U. S. Bankruptcy Court for the District of Delaware.

Eric Grace et al v. FirstCaribbean International Bnak (Cayman) Limited: Writ of Summons

March 4, 2010

Writ of Summons in Eric Grace and Beverley Grace v. FirstCaribbean International Bnak (Cayman) Limited at the Grand Court of the Cayman Islands.

South Africa seeks evidence in Texas for ‘Ludovic Mutombo’ investigation

March 11, 2009

An application for the appointment of a Commissioner to collect evidence - pursuant to a request for judicial assistance from South Africa - was filed under seal at the U. S. District Court for the Western District of Texas on

Italy: Luciano Colelli et al

February 12, 2009

Application for the appointment of a Commissioner to collect evidence for a criminal investigation in Italy into Luciano Colelli, Scolastico Pitiglio, Gabriella Maria Ranieri, Giuliana Mula, Alessandro Zanni, Camillus Braxator and David Sean Luntz for alleged fraud to the detriment of the Italian Authors and Publishers Association.