Peter Hughes

European Depositary Bank SA: Reprimand

May 4, 2022

Public Notice by the Luxembourg CSSF that it has imposed a reprimand on European Depositary Bank S.A. "following the violation by the Bank of the CSSF's temporary prohibition of 5 March 2021 on the onboarding of new investment fund structures due to severe deficiencies in its organisation and governance".

Apex Fund Services Ltd. et al v. Mathew Clingerman et al: Ruling on Leave to Appeal

February 18, 2020

Ruling refusing application for leave to appeal in Apex Fund Services Ltd. and Peter Hughes v. Mathew Clingerman, as Receiver of The Silk Road M3 Fund, a segregated account of Silk Road Funds Limited, and Silk Road Funds Limited at Bermuda Supreme Court.

Apex Fund Services Ltd. et al v. Mathew Clingerman et al: Ruling

November 12, 2019

Ruling regarding an application for an anti-suit injunction to halt legal proceedings in New York in Apex Fund Services Ltd. and Peter Hughes v. Mathew Clingerman, as Receiver of The Silk Road M3 Fund, a segregated account of Silk Road Funds Limited, and Silk Road Funds Limited at Bermuda Supreme Court.

Apex Fund Services Ltd. et al v. Mathew Clingerman et al: Originating Summons

July 22, 2019

Originating Summons in Apex Fund Services Ltd. and Peter Hughes v. Mathew Clingerman, as Receiver of The Silk Road M3 Fund, a segregated account of Silk Road Funds Limited, and Silk Road Funds Limited at Bermuda Supreme Court.

Silk Road M3 Fund v. Alisher Ali et al: Complaint

July 5, 2019

Complaint alleging fraud in Mathew Clingerman, as Receiver for Silk Road M3 Fund, a segregated account of Silk Road Funds Limited, of Bermuda v. Alisher Ali, apparently a citizen of Saint Kitts and Nevis residing in New York; Eurasia Capital Ltd., of the Cayman Islands; Eurasia Capital (Mongolia) LLC, of Mongolia; Silk Road Management Limited, of the Cayman Islands; Silk Road Finance Limited, of the Cayman Islands; Apex Fund Services Ltd., of Bermuda, and Peter Hughes, of Bermuda, at the Supreme Court of the State of New York, County of New York.

Apex Fund Services sued over ‘$10M fraud’ against Silk Road M3 Fund

February 24, 2019

Apex Fund Services, its CEO, Peter Hughes, and investment firms in the Cayman Islands and Mongolia are being sued in Bermuda regarding an alleged $10 million fraud perpetrated by 46-year-old, New York-based investment manager Alisher Ali Djumanov.

The Silk Road M3 Fund v. Alisher Ali et al: Writ of Summons

February 15, 2019

Generally Endorsed Writ of Summons in Mathew Clingerman, as Receiver of The Silk Road M3 Fund, a segregated account of Silk Road Funds Limited, v. Alisher Ali, a.k.a. Alisher Djumanov; Eurasia Capital Ltd., of the Cayman Islands; Eurasia Capital Mongolia LLC, of Mongolia; Silk Road Management Limited, of the Cayman Islands; Silk Road Finance Limited, of the Cayman Islands; Silk Road Finance Inc., formerly known as Silk Road Ventures Ltd. and formerly known as Ole Remediation Ltd., of the Cayman Islands; Apex Fund Services Ltd., of Bermuda, and Peter Hughes, of Bermuda, at Bermuda Supreme Court.

SEI Investments Company v. Apex Fund Services et al: Complaint

July 17, 2018

Complaint in SEI Investments Company v. John Lumley and Apex Fund Services (Bermuda) at the U. S. District Court for the Eastern District of Pennsylvania.

Bermuda and Curacao funds used to launder $125M fraud proceeds, say police

June 21, 2017

Offshore funds in Bermuda and Curacao - ADG Absolute Diversified Growth Fund and Enterprise Emerging Markets Fund - were used by fraudsters in India to launder the proceeds of a $125 million investment scam by Bombay Stock Exchange-listed technology firm Geodesic Ltd., according to Mumbai police.

Eden Corporate Pty Ltd. v. Jenepe IPO Capital Fund S.P.: Receivership Petition

November 18, 2015

Receivership Petition in Eden Corporate Pty Ltd. v. Jenepe IPO Capital Fund S.P. at the Grand Court of the Cayman Islands.

More red flags concerning Bermuda’s ADG Absolute Diversified Growth Fund

July 6, 2015

How could a private equity fund negotiate and sign a multi-million dollar contract with a 'company' that didn't even legally exist? That's the latest unanswered question that raises further doubts about the credibility of Bermuda-based ADG Absolute Diversified Growth Fund Ltd.

Bermuda’s ADG Fund sues defunct BVI shell firm for $52M in ‘dispute’ that invites suspicion

March 25, 2015

An obscure Bermuda-domiciled private equity fund - ADG Absolute Diversified Growth Fund - has applied to liquidate an even more obscure and long ago defunct BVI shell company - Lasdun Ventures - for alleged failure to repay a $52 m loan, a transaction whose substance is open to question.

ADG Absolute Diversified Growth Fund Ltd.: Confidential Private Placement Memorandum

August 25, 2014

'Confidential Private Placement Memorandum' for Bermuda-domiciled ADG Absolute Diversified Growth Fund Ltd., August 25, 2014.

Apex Fund Services Ltd. v. Calibre Fund SPC: Winding-Up Order

May 21, 2013

Winding-Up Order in Apex Fund Services Ltd. v. Calibre Fund SPC at the Grand Court of the Cayman Islands.

Apex Fund Services Ltd. v. Calibre Fund SPC: Winding Up Petition

January 30, 2013

Winding Up Petition in Apex Fund Services Ltd., of Bermuda v. Calibre Fund SPC, of the Cayman Islands, at the Grand Court of the Cayman Islands.