Crown Global Life Insurance Ltd.

Ruling denying summary judgment against Crown Global Life Insurance and granting summary judgment for $1.7 million against the other defendants regarding investments in the Mauritius-based Belvedere Management Group in Thomas Doctoroff, of New York, USA v. Crown Global Life Insurance Ltd., of Bermuda; Paul Gambles, of Thailand; MBMG Investment Advisory Company Ltd., of Thailand; MBMG Group Singapore Pte, of Singapore; MBMG International Custodians Ltd., of the British Virgin Islands; MBMG Asset Management Limited, of Mauritius, and Garmor Asset Management Ltd., of Mauritius, at Bermuda Supreme Court.

Press Release by the Bermuda Monetary Authority announcing that it has imposed a fine of $400,000 on Crown Global Life Insurance Ltd. and Crown Global Life Insurance (Bermuda) Ltd. for regulatory breaches. Editor's Note: Research by OffshoreAlert in the "Directors Register" maintained by the Government of Bermuda showed that Crown Global Life Insurance Ltd. and Crown Global Life Insurance (Bermuda) Ltd. have the same directors: Terria Ladawn Godwin, of the Cayman Islands; Carol Feathers, of Bermuda; Christopher John Calise, of Miami Beach, Florida, USA, and Perry A. Lerner, of Philadelphia, Pennsylvania, USA. On the Crown Global group's website at crownglobalinsurance.com, it is stated that "Crown Global empowers high net worth individuals, institutions and investment fund managers with products and services to enhance their investments", its "Executive Leadership Team" comprises Perry Lerner, "Chairman & CEO"; Christopher Calise, "President & CFO"; Damien Rios, "Senior Vice President & General Counsel"; Riccardo Gambineri, "Senior Vice President"; Thomas Berry, "Chief Actuary"; Terria Godwin, "Vice President, Finance & Administration", and Suzanne Reynolds, "Assistant Vice President, Finance & Administration", and it has offices in Delaware, Miami Beach, Zurich, Bermuda, and the Cayman Islands.

Thailand-based British financial adviser Paul Gambles and his MBMG Group, including firms in the BVI, Mauritius, Singapore, and Thailand, are being sued for $3.5M in Bermuda by a U.S. client whose cash was invested in funds managed by the Belvedere Management Group, whose fraudulent operations were exposed by OffshoreAlert in 2015.

Specially Endorsed Writ of Summons in Thomas Doctoroff, of New York, NY v. Crown Global Life Insurance Ltd., of Bermuda; Paul Gambles, a citizen of the United Kingdom residing in Thailand; MBMG Investment Advisory Company Ltd., of Thailand; MBMG Group Singapore Pte., of Singapore; MBMG International Custodians Ltd., of the British Virgin Islands; MBMG Asset Management Limited, of Mauritius, and Garmor Asset Management Ltd., of Mauritius, at Bermuda Supreme Court.