OffshoreAlert
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CISE suspends Argentum Capital after OffshoreAlert exposes Ponzi scheme

February 22, 2014 by David Marchant

HIGHLIGHTS

  • ACL listed by Carey Olsen Corporate Finance in 2011 & administered by Sanne Trust
  • Investment manager is Argentum Investment Management, of Cayman
  • Keene tipped off 3 months ago by OffshoreAlert that ACL was a scam but didn't even respond
  • Major embarrassment for ACL's chairman, retired London High Court judge David Keene
  • Other ACL directors are John Wetherall, Peter Rioda, and Andrew Pollard
The Channel Islands Securities Exchange yesterday suspended the listing of London-based Argentum Capital Ltd. - three days after OffshoreAlert exposed the litigation fund as part of a £90 m Ponzi scheme headed by Briton Brendan Terrill, who operates Cayman-domiciled Centaur Litigation and Hong Kong-domiciled Buttonwood Legal Capital.

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As any fule kno, the biggest enemy of fraud, corruption, money laundering, and other forms of financial crime is transparency, while their best friend is secrecy. That's why the unprecedented mass sealing of cases that's taking place at the Financial Services Division of the Grand Court of the Cayman Islands is repugnant to anyone with a genuine concern for financial crime.