Stephen Dewsnip

Guernsey regulator bans Steve Dewsnip from financial services industry

October 27, 2024

British businessman Steve Dewsnip, 57, whose involvement in several fraudulent investment schemes has been previously exposed by OffshoreAlert, has been banned from Guernsey's regulated financial services industry "as a result of his failure to meet the minimum criteria for licensing".

Stephen Dewsnip: Disqualification (Guernsey)

October 25, 2024

Public Announcement by the Guernsey Financial Services Commission that it "decided to prohibit Mr Stephen Paul Dewsnip from performing any function on behalf of a regulated entity".

Providence Financial Investments Inc. et al: Trustee’s Renewed Motion for Substantive Consolidation

March 2, 2021

Trustee's Renewed Ex-Parte Motion for Substantive Consolidation of Debtors Only in re: Providence Financial Investments Inc. and Providence Fixed Income Fund LLC at the U. S. Bankruptcy Court for the Southern District of Florida.

Stephen Dewsnip: £7K Fine (Guernsey)

July 27, 2020

Public Statement by the Guernsey Financial Services Commission that it has imposed a £7,000 fine on Stephen Paul Dewsnip regarding his conduct as "a non-executive director of Global Insurance Group Limited".

Irish conman Mark Nichols and Almas Capital Management settle NFA action

May 30, 2019

Irish conman Mark Nichols and his commodity trading advisor Almas Capital Management - who were exposed by OffshoreAlert 13 months ago - have settled a regulatory action brought against them by the National Futures Association in the United States.

NFA accuses Irishman Mark Nichols & Almas Capital of failing to cooperate with investigation

February 26, 2019

The National Futures Association in the U.S. has issued a complaint against 56-year-old Irish conman Mark Nichols and his commodity trading advisor Almas Capital Management LLC for allegedly failing to cooperate with an NFA investigation into what appears to be an advance fee fraud - eight months after they were exposed by OffshoreAlert.

Privilege Wealth investors’ capital insurer Affinity PCC struck off in Guernsey

June 22, 2018

In further bad news for investors in the failed Privilege Wealth investment scam, the company that purportedly insured investors' capital was today compulsorily struck off Guernsey's corporate register.

Guernsey’s Steve Dewsnip involved in another dubious venture

April 30, 2018

Guernsey-based businessman Steve Dewsnip, who was arrested last year as part of a fraud investigation into Providence Financial Group, is involved with another questionable venture, Connecticut-based Almas Nexus, whose CEO, Mark Nichols, has a history of indebtedness and corporate failure.

Providence Financial Investments, Inc. et al: Trustee’s Motion For Substantive Consolidation

April 16, 2018

Trustee's Motion For Substantive Consolidation in re. Providence Financial Investments, Inc. and Providence Fixed Income Fund, LLC at the U. S. Bankruptcy Court for the Southern District of Florida.

Guernsey insurer of Privilege Wealth investors’ capital loses license

August 23, 2017

In ominous news for investors in Privilege Wealth's insolvent $40 million investment scheme, the company they were told was insuring their principal - Affinity Insurance PCC Limited - has lost its insurance license in Guernsey.

Providence Financial’s ‘sales star’ sued for return of $3M commissions

May 25, 2017

Texas broker John Abio, who was allegedly known as "our sales star" by the U. S. arm of the fraudulent Guernsey-based Providence Financial group, is being sued for the return of $3.1 million in commissions.

EXPOSED: ‘Privilege Wealth’ global investment fraud

October 19, 2016

Notorious British swindler Brett Jolly is secretly behind a global investment fraud being perpetrated under the name 'Privilege Wealth', OffshoreAlert can reveal. The scheme involves a sprawling web of companies and operators in Bermuda, BVI, Cayman Islands, Curacao, Dubai, Gibraltar, Guernsey, Jersey, Luxembourg, Panama, Seychelles, South Africa, Spain, UK, and USA.

Guernsey FSC v. Providence Investment Funds PCC et al: Administration Announcement

August 9, 2016

News Release by Guernsey Financial Services Commission announcing the appointment of Administration Managers for Providence Investment Funds PCC Limited and its manager, Providence Investment Management International Limited.