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    Articles Bahamas Canada Featured Fraud Investment Liquidations & Insolvencies Listed Securities USANovember 3, 2011

    Bahamas-based Owen Bethel and Edison Sumner ‘lied’ to Canadian broker about accounts used for fraud

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    By
    12 years ago

    Topics

    Bahamas Canada Fraud Investment Liquidations & Insolvencies
    Listed Securities USA
    [ 2 more... ] [ top 5 ]

    Keywords

    Carol Zosiak David A. Hagen Douglas Ralph Garrod Edison Sumner Edmund Rahming
    Global Securities Corporation GTX Global Corporation John Brighten Kenneth Krys KRyS Global Laureates Way Inc. Montaque Capital Partners Ltd. Montaque Securities International Owen Bethel Walcott Indies. Ltd.
    [ 10 more... ] [ top 5 ]

    Highlights

    • Owen Bethel and Edison Sumner falsely claimed to beneficially own accounts actually owned by clients
    • Accounts were used to commit $25 m securities fraud
    • Separately, Bethel and Sumner-owned Montaque Capital Partners Ltd. files for liquidation in Bahamas, citing insolvency

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    Bahamas-based financial services providers Owen Bethel and Edison Sumner lied to a Canadian securities broker regarding the beneficial ownership of accounts that were subsequently used to commit a $25 million fraud, according to a Canadian regulator.

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