Cayman Institutional Bank

U. S.-based hedge fund manager Fredrick Scott has been charged with defrauding investors in his ACI Capital Group, which has offshore structures and accounts in the British Virgin Islands and Cayman Islands,

Criminal Complaint in USA v. Fredrick Douglas Scott at the U. S. District Court for the Eastern District of New York.

Offshore providers in the Cayman Islands, Isle of Man, and Switzerland face huge liabilities after allowing insiders to loot Axiom Legal Financing Fund of tens of millions of pounds. Those most at risk from being sued by Axiom's eventual liquidators appear to be DMS Group, JP Funds Group, BDO Cayman, and Ogier, all in the Cayman Islands; Turnstone Group, in the Isle of Man; and Portland Financial Management, of Switzerland.