Cornell Capital Partners Offshore, Ltd.

Complaint by the U. S. Securities and Exchange Commission v. Yorkville Advisors, LLC, Mark Angelo, and Edward Schinik at the U. S. District Court for the Southern District of New York, alleging the defendants defrauded investors in hedge funds domiciled in the Cayman Islands and Delaware.

An offshore hedge fund has been set up by a group with an eye-popping record of profiting from trades in penny stocks whose issuers have collectively lost more than $1.2 billion. Cornell Capital Partners Offshore Ltd. was licensed as a mutual fund by the Cayman Islands Monetary Authority on July 1, 2003.