Invescap

SPI Investment Fund SPC et al: Chapter 15 Petition (Cayman Islands)

October 28, 2024

Chapter 15 Petition for Recognition of a Foreign Main Proceeding in the Cayman Islands by Andrew Morrison, David Griffin, and Iain Gow, of FTI Consulting, as the Foreign Representatives of SPI Investment Fund SPC (in Official Liquidation), and David Griffin and Yvonne Plamondon, of FTI Consulting, as the Foreign Representatives of International Portfolio Allocation Ltd. (in Official Liquidation) and International Capital Allocation Ltd. (in Official Liquidation), filed at the U.S. Bankruptcy Court for the Southern District of Florida.

Accused fraudster Marc-André Pépin sets up new Luxembourg fund, Polaris Financial Investments

June 25, 2024

Swiss asset manager Marc-André Pépin and British fund administrator Gareth Williams, who both participated in a Cayman Islands investment scheme that recently collapsed amid allegations of fraud, have set up a new Luxembourg fund, Polaris Financial Investments S.A., with a similar investment objective of investing in receivables.

Two more Cayman entities controlled by U.S.-based Swedish national Dennis Klemming go into liquidation

May 22, 2024

The collapse of an investment group headed by Miami-based Swedish national Dennis Klemming has continued with the liquidations of two more Cayman Islands entities, International Capital Allocation Ltd. and International Portfolio Allocation Ltd., which each had an agreement to borrow up to $100 million from another failed Cayman entity, SPI Investment Fund.

Another Cayman fund operated by U.S.-based Dennis Klemming goes into liquidation

December 21, 2023

Another Cayman Islands mutual fund - SPI Investment Fund SPC - affiliated with Miami Beach-based Swedish national Dennis Klemming's Prudent Group has gone into liquidation - 21 months after its independent directors were removed after uncovering evidence of fraud.

SPI Investment Fund SPC: ‘Court Supervision’ Petition

December 20, 2023

Petition for Court Supervision of a Voluntary Liquidation in the matter of SPI Investment Fund SPC (in Voluntary Liquidation) at the Grand Court of the Cayman Islands.

Polaris Financial Investments S.A.: Structuring Memorandum (Luxembourg)

September 26, 2023

'Structuring Memorandum' for Polaris Financial Investments S.A., of Luxembourg.

Swiss asset manager Marc-André Pépin removes directors who accused him of fraud, winding up petition withdrawn

July 14, 2022

One day after being accused of fraud by independent directors of his Cayman Islands mutual fund, Swiss asset manager Marc-André Pépin removed them as directors, and the winding up petition was later withdrawn, OffshoreAlert can reveal.

SPI Investment Fund SPC: Order Withdrawing Winding Up Petition

July 7, 2022

Order for Leave to Withdraw Winding Up Petition in the matter of SPI Investment Fund SPC at the Grand Court of the Cayman Islands.

Swiss asset manager Marc-André Pépin accused of fraud by Cayman’s SPI Investment Fund

March 21, 2022

In a winding-up petition, Swiss investment manager Marc-André Pépin has been accused of "fraudulent misconduct and mismanagement" by Cayman Islands-domiciled SPI Investment Fund SPC, whose investors' funds have allegedly ended up in questionable arrangements with entities operated by Prudent Group, Dennis Klemming, and Jacob Gitman, all of Miami, Florida.