April 24, 2015 - A Guernsey regulator has essentially portrayed Belvedere Management Group principals David Cosgrove and Cobus Kellermann as serial fraudsters with little or no regard for the well-being of investors who, including other funds around the world, have entrusted them with hundreds of millions of dollars since the group began in or around 2008.
April 24, 2015 - Three Belvedere Management Group fund vehicles - The Global Mutual Fund PCC, The Worldwide Mutual Fund PCC and The Universal Mutual Fund ICC - were today forced into administration by their local regulator in Guernsey, with similar applications against two affiliates, Trinity Global Fund and Lancelot Management Limited, adjourned to a later date.
April 22, 2015 - Affidavit, plus 1,044 pages of exhibits, of Paul Yabsley in Guernsey Financial Services Commission v. Lancelot Management Limited, The Global Mutual Fund PCC Limited, The Universal Mutual Fund PCC Limited, The Worldwide Mutual Fund PCC Limited and The Trinity Global Fund. NOTE: Document is 80 mb in size so please all sufficient time to download.
April 10, 2015 - Cayman Islands-based Caledonian Bank has millions of dollars of related-party transactions that typically "can be difficult to recover full value" and is exposed to "a single large loan" of $93.7 million, representing more than half of all loans receivable. The grim news for creditors came in the first report of liquidators Keiran Hutchison and Claire Loebell.
April 01, 2015 - Petition to continue the voluntary liquidation of Caledonian Group Services Limited under the supervision of the Grand Court of the Cayman Islands.
March 30, 2015 - The Mauritius Financial Services Commission today closed down a third company that was exposed by OffshoreAlert 13 days ago as being part of a massive investment fraud perpetrated by Belvedere Management Group. RDL Management Ltd. had its 'Collective Investment Scheme Manager License' suspended and was placed into administration.
March 30, 2015 - Public Notice by the Mauritius Financial Services Commission announcing the appointment of Joint Administrators of RDL Management Ltd., which is co-owned by David Cosgrove and Cobus Kellermann and is part of the Belvedere Management Group.
March 30, 2015 - Public Notice by the Mauritius Financial Services Commission announcing the suspension of Collective Investment Scheme Manager License of RDL Management Ltd., which is co-owned by David Cosgrove and Cobus Kellermann and is part of the Belvedere Management Group.
March 26, 2015 - Press Release by the South Africa Financial Services Board disclosing two regulatory investigations into Jacobus Kellermann in Guernsey and Mauritius.
March 23, 2015 - Public Notice by the Mauritius Financial Services Commission announcing the appointment of Joint Administrators for Lancelot Global PCC and The Four Elements PCC, which are part of the Belvedere Management Group.