A management agreement between a Bermuda corporate services provider and a hedge fund group accused of committing a $100 million-plus fraud against investors was back-dated by two weeks in an attempt to circumvent a restraining order issued by a U. S. federal court, a regulator has claimed.
The contract pursuant to which Bermuda-based Mercury Group Limited agreed to provide “office and related facilities and services” to the Lake Shore group was, in reality, entered into on June 29, 2007 – the same day that 38 boxes of Lake Shore records were transferred from Roth Mosey & Partners LP accounting and consulting firm in Canada to MGL in Bermuda, according to the Commodity Futures Trading Commission in a filing on January 9, 2008 at the U. S. District Court for the Northern District of Illinois, where it is suing Lake Shore and its principal, Philip Baker, for fraud.
US regulator accuses ‘fraudulent’ Lake Shore hedge fund of breaching restraining order by back-dating agreement with Bermuda company manager
17 years ago
Topics
Bermuda British Virgin Islands Fraud Investment SwitzerlandKeywords
Alexandre Schwab Andrew James Kinrade Brian Monk Colin Forster Geneva Asset Management SA