Bermuda’s ADG Fund sues defunct BVI shell firm for $52M in ‘dispute’ that invites suspicion

Highlights

• ADG agreed to loan up to $72M to a newly-formed shell company that later disappeared
• ADG was last year the target of a Tax Information Exchange Agreement request by a foreign gov't
• One of its directors - James Keyes - was previously a director of fraudulently-operated Fletcher International
• A director of ADG's investment manager - Nicholas Hoskins - and his Bermuda law firm previously helped a Russian Gov't Minister launder $1 billion of corruption proceeds