ADG Absolute Diversified Growth Fund Articles Banks & Trusts Barbados Belize Bermuda British Virgin Islands Curaçao Cyprus Featured Fraud India Investment Liquidations & Insolvencies Listed Securities Malaysia Misappropriation Money Laundering Netherlands Antilles Panama Russia Singapore Switzerland Theft United Arab Emirates United KingdomJune 21, 2017

    Bermuda and Curacao funds used to launder $125M fraud proceeds, say police

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    By
    7 years ago

    Topics

    Banks & Trusts Barbados Belize Bermuda British Virgin Islands
    Curaçao Cyprus Fraud India Investment Liquidations & Insolvencies Listed Securities Malaysia Misappropriation Money Laundering Netherlands Antilles Panama Russia Singapore Switzerland Theft United Arab Emirates United Kingdom
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    Keywords

    1MDB ADG Absolute Diversified Growth Fund Alexander Breuer Altagracia Rosalina Nolles Paulina Amergeris Wealth Management
    Amicorp Andreas Moustras Apex Fund Services Appleby Arthur Morris & Company Audrain Commercial Corp. Baker Tilly Beatrice Krieger Bertus Anselmo Vis BSI Bank Cistenique Investment Fund Citigroup David Brown Delta Asset Management Denis Muys Dinesh Jajodia Eclipse Management Edgard Lotman Eland Crown International Emiloto Associated Enterprise Emerging Markets Fund Eric Andersen Erik Groeneveld Foreign Economic Industrial Bank Francesco Castellazzi Geodesic Ltd. Harris Worldwide Limited Investec Bank Irene Spoerry ISIS Law James Keyes John Bohan Kiran Kulkarni Larisa Markus Lasdun Ventures Luca Castellazzi Michael Widmer Michele Nef Monterosa Group Nicholas Hoskins Pankaj Srivastava Pares Management Peter Hughes Petros Livanios Prashant Mulekar Priscilla Lotman Quadris Ltd. Rahessa Management Services Rene Sigrist Rob Ellis Salton Associated Sampas Management Sina Schmid Sovereign Asset Management Sudamco Management Services Tamara Schlapfer Trident Trust Ume Management VanEps Kunneman VanDoorne Vneshprombank Wakefield Quin Yvette Invest & Trade Corp Yvette Investments Limited Zomo Technologies
    [ 64 more... ] [ top 5 ]

    Highlights

    • ADG and EEMF were ‘pass-through' vehicles for Geodesic fraud, say police
    • EEMF also used to launder the proceeds from two other much bigger suspected frauds
    • EEMF and Cistenique Investment Fund handled $1.4B for Malaysia's 1MDB & are biggest shareholders in insolvent Russian bank whose boss embezzled $2B
    • Both EEMF and Cistenique are administered in Curacao by Amicorp Fund Services

    Offshore funds in Bermuda and Curacao – ADG Absolute Diversified Growth Fund and Enterprise Emerging Markets Fund – were used by fraudsters in India to launder the proceeds of a $125 million investment scam by Bombay Stock Exchange-listed technology firm Geodesic Ltd., according to Mumbai police.