OffshoreAlert has come across a $10 million note offering in which The FN Group, formerly known as the First Nevisian Group, acts as the arranger, dealer and registrar and controls the two guarantors.We understand that the group has used its discretionary investment authority to put some of its clients’ funds in the offering, which has led to at least one complaint.The issuer is Nevis-registered Global Power Supplies Inc., whose notes range from 30 days to three years and bear interest of 9 to 10 per cent per year.
The FN Group refuses to comment on mystery offering
23 years ago
Topics
Canada Fraud Investment Ireland St. Kitts & NevisKeywords
Anglo Irish Bank Associated Trustees Cliff Wilkins First Nevisian Global Power Supplies