Nicholas Fraser

Insider Talking: October 7, 2008

October 7, 2008

There have been two new legal developments at the U. S. District Court for the Southern District of Florida concerning the U. S. Securities and Exchange Commission's investigation into the Lancer Offshore group of hedge funds, which collapsed in 2003 after losing at least $500 million due to fraud by insiders; and The Serious Fraud Office in the United Kingdom enhanced its reputation as an ineffective law enforcement agency when it failed to secure a single conviction against three former officers of Imperial Consolidated at their High Court trial in London.

One acquittal, two no-decisions at Imperial Consolidated trial

September 29, 2008

The trial in the United Kingdom of three former officers of the Imperial Consolidated Group, which collapsed in 2002 with debts of more than $300 million, has ended without any convictions.After hearing evidence for five months and deliberating for ten days, a jury of ten people today acquitted Nicholas Fraser, 34, of one count of conspiracy to commit fraud and could not reach a verdict regarding a similar charge against his brother, Lincoln Fraser, 36, and Jared Brook, 38, even after Justice Elizabeth Gloster, sitting at Blackfriars Crown Court, in London, informed them she would accept a 9-1 majority decision.

Fraud charges brought against five former Imperial Consolidated Group insiders

June 14, 2006

Five former insiders in the Imperial Consolidated Group were today each charged with conspiracy to defraud in the United Kingdom. The defendants are Jared Bentley Brook, 36, of Manchester, England; Lincoln Julian Fraser, 35, of Brookenby, Lincolnshire, England; his brother, Nicholas Grant Fraser, 33, of Kirton Lindsey, Lincolnshire, England; William Godley, 58, of Almancil, Portugal; and Robert Statham Raven, 46, of Usk, Gwent, Wales.

Lincoln Fraser staves off bankruptcy (for now)

January 31, 2003

Imperial Consolidated co-founder Lincoln Fraser has staved off personal bankruptcy - at least for the time being - after a commercial rent debt of £16,599 (US$26,600) was paid at the eleventh hour. A petition to have Fraser declared bankrupt was due to be heard at Grimsby County Court, England on January 20, 2003. It did not proceed after payment in full was made earlier in the month, said a spokesman for the petitioning creditor, Nadan Properties Ltd., of London.

Grenada regulators extend control of Imperial Consolidated’s offshore bank

May 31, 2002

Grenada's Ministry of Finance has extended the control of its agent, PricewaterhouseCoopers, over Imperium Bank until June 9 while it prepares to shut it down permanently.Regulators also want to close the mutual funds that the bank administers but have been

Reorganization continues at scandal-plagued Imperial Consolidated

December 31, 2001

Michael Gilbert, who was severely criticized by a New Zealand judge in a recent court ruling (see separate story), is part of a reorganization that involves the Imperial Consolidated Group and companies with the prefix 'Alpha'.The firm that he is a director of changed its name from Imperial Consolidated (New Zealand) Ltd. to Alpha Equities Asia-Pacific (NZ) Ltd. on November 29, 2001.

Imperial Consolidated moves from Bahamas to Grenada after pressure from regulator

November 30, 1999

Imperial Consolidated Securities S. A. has moved its investment division to Grenada following consultations with regulators in the Bahamas, where the company is registered and physically based. The move, which was due to be completed by November 30, followed concerns about the company's involvement in the sale of unregistered securities.