An unlicensed, unaudited mutual fund group into which over 550 investors invested approximately $13.2 million has been forced into Receivership by the Bahamas Securities Commission. It has triggered a bitter legal battle for control of the Hawthorne-Sterling family of funds between their Receiver, accountant Clifford Culmer, and their founder, American Ian L. Renert.
Articles Bahamas Featured Fraud Imperial Consolidated Investment Liquidations & InsolvenciesSeptember 30, 2000
Bahamas fund group forced into receivership
21 years ago