Belvedere Group
September
2015
Nicolaas Faure & Drake Fund Advisors – An embarrassment to the BVI
The measure of any person or business is not whether they become involved in controversy but the actions they take when such controversy occurs.Within hours of OffshoreAlert exposing Belvedere Management Group as a “massive criminal financial enterprise” on March 17th,
September
2015
Cayman regulator applies to liquidate Belvedere’s Brighton SPC, cites ‘fraud’
Nearly six months after an OffshoreAlert exposé, the Cayman Islands Monetary Authority has petitioned to wind up Belvedere Management Group investment vehicle Brighton SPC, citing evidence of fraud “from inception” in which at least US$83 million of investors’ funds has disappeared.
September
2015
Venture Assets PCC: License Revocation
September
2015
Two Seasons PCC: License Revocation
September
2015
Cayman Islands Monetary Authority v. Brighton SPC: Winding Up Petition
July
2015
Mauritius regulator acts against another Belvedere Management company
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.
July
2015
CityGate Securities Ltd: License Suspension
Public Notice by the Mauritius Financial Services Commission announcing the suspension of the Investment Dealer (Broker) License and Global Business License of CityGate Securities Limited.
July
2015
Belvedere Fund had €67 m of doubtful assets, says auditor BDO
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).
July
2015
Sexual assault case against CWM fraudster Anthony Constantinou adjourned for two weeks
A criminal action for sexual assault against London-based investment fraudster Anthony Constantinou has been adjourned until July 20th, a source has told OffshoreAlert. It is unclear whether he has been officially charged or not.
July
2015
British firm Etaireia Investments admits OffshoreAlert’s exposé was true
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.
July
2015
Trading in shares of Etaireia Investments suspended after OffshoreAlert exposé
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.
July
2015
CWM fraudster Anthony Constantinou to be charged with sexually assaulting three former employees
London-based fraudster Anthony Constantinou, who oversaw a forex fraud division of the Belvedere Management Group that is known as CWM, will be criminally charged in London on Monday with six counts of sexual assault against three former female employees, OffshoreAlert can reveal.
June
2015
Belvedere associate Brian Weal’s latest fraud: Publicly-listed Etaireia Investments
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.
June
2015
Belvedere’s Kijani Resources goes into liquidation in Gibraltar
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.
June
2015
‘Flash Crash’ suspect Navinder Sarao files bizarre ‘cease & desist’ letter with US court
‘Flash Crash’ fraud suspect Navinder Sarao has filed a bizarre “cease and desist” document at federal court in the United States that calls into question his sanity. In a rambling letter, the British citizen and resident who is currently fighting extradition wrote that the U.S. was trying “to make an idiot of him” and that “a complaint against an idiot is wrong”.
June
2015
Belvedere Fiduciary’s license suspended by Mauritius regulator
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.
June
2015
Danish stock exchange suspends two Belvedere Group issuers
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.
June
2015
Belvedere’s Brighton SPC taken over by Cayman regulator
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.
May
2015
Belvedere Fiduciary Ltd.: License Suspension
Public Notice by the Mauritius Financial Services Commission announcing the suspension of the ‘Management License’ of trust company Belvedere Fiduciary Limited.
May
2015
BUSTED: British & Irish expats who help Belvedere Group swindle investors
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.
April
2015
Belvedere Management Ltd.: License Suspension
April
2015
Belvedere’s David Cosgrove & Cobus Kellermann lambasted by Guernsey regulator
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.
April
2015
Three Belvedere Management Group funds closed down by Guernsey regulator
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.
April
2015
Guernsey FSC v. Lancelot Management Ltd. et al: Paul Yabsley Affidavit
March
2015
Belvedere Management’s London unit ‘like Wolf of Wall Street’, says former employee
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.
March
2015
DMS Bank & Trust Ltd. et al v. Jazeb Jones: Writ & Statement of Claim
Writ and Statement of Claim in DMS Bank & Trust Ltd. and dms Organization Ltd. v. Jazeb Jones at the Grand Court of the Cayman Islands.
March
2015
Mauritius regulator closes down RDL Management after OffshoreAlert exposé
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.
March
2015
RDL Management Ltd.: Appointment of Administrators
March
2015
RDL Management Ltd.: License Suspension
March
2015
Jacobus Kellermann: Press Release (2015)
Press Release by the South Africa Financial Services Board disclosing two regulatory investigations into Jacobus Kellermann in Guernsey and Mauritius.
March
2015
Lancelot Global PCC et al: Appointment of Administrators
March
2015
Cayman hedge fund Brighton SPC suspended in aftermath of Belvedere Management Group exposé
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.
March
2015
Mauritius regulator closes down two Belvedere Management fund companies
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.
March
2015
Lancelot Global PCC: License Revocation
March
2015
The Four Elements PCC: License Revocation
March
2015
Brighton SPC: Proposed New Directors
Letter from BVI-based Drake Fund Advisors Ltd. to shareholders of Cayman Islands-domiciled Brighton SPC announcing the resignation of its board of directors and the identities of proposed new directors.
March
2015
Lancelot Global PCC, The Four Elements PCC and Belvedere Management Limited: Communiqué
March
2015
EXPOSED: Belvedere Management’s massive criminal enterprise
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.
November
2014
Rajindersingh Borthosow v. Belvedere Fiduciary Ltd.: Complaint
Complaint in Rajindersingh Borthosow v. Belvedere Fiduciary Ltd. at the Mauritius Industrial Court.
October
2014
The Four Elements PCC: Warning
Public Warning by the Mauritius Financial Services Commission against The Four Elements PCC.
October
2014
Lancelot Global PCC: Warning
Public Warning by the Mauritius Financial Services Commission against Lancelot Global PCC.
December
2013
The Four Elements PCC: 2013 Audited Financials
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