The principal of a British Virgin Islands-registered hedge fund administered by the Bank of Bermuda has been arrested in Hong Kong on suspicion of defrauding investors of approximately $56 million.
Charles Schmitt, who operated the CSA Absolute Return Fund Ltd., was released on bail on June 17 pending further investigation by local police and the Hong Kong’s Securities & Futures Commission.
Articles Bermuda British Virgin Islands Featured Fraud Hong Kong Investment Liquidations & InsolvenciesJune 30, 2004
Topics
Bermuda British Virgin Islands Fraud Hong Kong InvestmentKeywords
Charles Schmitt Charles Schmitt & Associates CSA Absolute Return Fund Ltd. Jan Blaauw John Toohey