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 and possibly billions since the group began in or around 2008.
April 22, 2015 - Affidavit 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: OffshoreAlert has temporarily removed the 1,044 pages of exhibits to avoid potentially prejudicing the regulatory investigation in Guernsey. OffshoreAlert expects to restore them soon.
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 05, 2015 - An attempt to raise at least £6 million from victims of the Centaur Group litigation funding fraud by March 31st to fund a dubious Cayman Islands-domiciled 'rescue fund' failed – so the three Australia-based businessmen behind the scheme - Simon Franklin, Stuart Hackett and Klaus Selinger - extended the deadline to April 17th.
April 02, 2015 - Originating Application in Rural International Bank Limited v. Dallas Trading Corp. at the British Virgin Islands High Court.
March 31, 2015 - Victims of Belvedere Management Group's global fraud scheme were pouring so much money into its London division that 33-year-old boss Anthony Constantinou regularly threw huge wads of cash up in the air for employees to grab as it rained down or scoop from the floor while on their hands and knees, according to a former employee.
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 25, 2015 - Originating Application in Shebah Petroleum Development Company Limited v. Vitol S.A. at the British Virgin Islands High Court.
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.
March 24, 2015 - Originating Application in Mostafa Sharifpoor v. Framjee Properties Limited at the British Virgin Islands High Court.