Public Notice by the Malta Financial Services Authority that it has cancelled the Collective Investment Scheme Licence of Brightwell Portfolio Fund SICAV Plc, a license that was suspended, on regulatory grounds nearly six years ago, on July 15th, 2014, “following the resignation of key officials and service providers”. Editor’s Note: Research by OffshoreAlert at the Malta Business Registry showed that Brightwell Portfolio Fund SICAV Plc has not had any directors or a secretary since they resigned in May, 2014. The company was originally incorporated in the British Virgin Islands on May 18th, 2006 as Brightwell Portfolio Fund Ltd. and continued to Malta on May 10th, 2011, changing its name at the same time. In its most recent annual return, dated May 10th, 2013, the company’s shareholders were identified as Paolo Faldini, a citizen of Italy residing in Monaco, and Conseulo Nardon, a citizen of Italy with addresses in the Netherlands and Luxembourg; its directors as Faldini, Nardon, and Stephen Muscat, of Malta, and its Secretary as Valetta Fund Services Limited. Faldini committed suicide on his luxury yacht – apparently bought with investors’ funds – in Monte Carlo on December 31st, 2013, shortly after which Nardon, Muscat, and Valetta Fund Services all resigned their positions and the company’s auditor, KPMG (Malta), represented by partner Ray Azzopardi, withdrew its audit opinions for 2011 and 2012 due to “fraudulent misrepresentations”, evidently by Faldini, regarding the company and its subsidiaries, Beaumont Cash Management Limited, Beaumont Systematic Trading Limited, Beaumont Discretionary Trading Limited, Beaumont Equity Trading Limited, and Beaumont Homeland Security Limited. Brightwell Portfolio Fund’s professional services providers included Princes Gate Investment Management Ltd., of the BVI, as Investment Manager; Arcari Fund Solutions BV, of the Netherlands, as Administrator; Credit Suisse, of Switzerland, as Custodian, and Ganado & Associates, Advocates, of Malta, as Legal Adviser. In the BVI, the company’s directors were Curado Trust (Tortola) Limited, represented by Yuck Leen Sprock-Chang and Mavis Reed-Castro, and GM General Management Limited, represented by Mario Bottiroli, c/o Trust Company Complex, in the Marshall Islands, with Harneys Corporate Services Ltd., represented by Kimberly Crabbe-Adams, serving as registered agent. Corporate records show that the company authorized the following lawyers to obtain its Collective Investment Scheme license in Malta: James Farrugia, Andre Zerafa, Henry Saydon, and Stephanie Micallef, now known as Stephanie Farrugia, all of Ganado & Associates.
British Virgin Islands Documents Fraud Investment Italy Luxembourg Malta Malta Financial Services Authority (MFSA) Marshall Islands Monaco Netherlands RegulatoryMay 19, 2020
Brightwell Portfolio Fund SICAV Plc: License Cancellation
TopicsBritish Virgin Islands Fraud Investment Italy Luxembourg [ 5 more... ] [ top 5 ]
KeywordsArcari Fund Solutions BV Avalon Joelle Abela Beaumont Cash Management Limited Beaumont Discretionary Trading Limited Beaumont Equity Trading Limited
Beaumont Homeland Security Limited Beaumont Systematic Trading Limited Blue Square Equity Investment Ltd. Blue Star Capital Plc Brightwell Portfolio Fund Ltd. Brightwell Portfolio Fund SICAV Plc Conseulo Nardon Credit Suisse Curado Trust (Tortola) Limited Ganado & Associates GM General Management Limited Harneys IMFC Fund Services BV Kimberly Crabbe Adams KPMG Mario Bottiroli Mavis Reed-Castro Paolo Faldini Princes Gate Investment Management Ltd. Ray Azzopardi Stephanie Farrugia Stephen Muscat The Beaumont Fund Ltd. Valetta Fund Services Limite Yuck Leen Sprock-Chang[ 25 more... ] [ top 5 ]