A fraudster complaining that OffshoreAlert caused their scam to prematurely collapse is the most sincere compliment anyone can give us.
Thus it was when accountant Mark Munnelly, a principal of British firm Privilege Wealth Plc, moaned to the London High Court last year: “Since the articles were published, the amount of new investment has dropped significantly and significant redemptions have started. For the five months leading up to the articles, i.e. April to September 2016, total subscriptions to the claimant’s ‘senior secure loan offering’ were £2.47 million. For the five months following the article, i.e. October 2016 to February 2017, total subscriptions have been £380,000. This represents a drop in subscriptions of 85%. By way of comparison, in the five months running from November 2015 to March 2016, subscriptions were £2.24 million. It is clear, therefore, that the article itself had a very substantial negative impact on investment.”
Less than 12 months later, Privilege Wealth disclosed it was insolvent by over $40 million due to fraud and went into administration. If OffshoreAlert hadn’t exposed the fraud in its early stages, the losses would likely have been tens of millions of dollars higher.
Since OffshoreAlert was launched in 1997, we have exposed more than 175 investment frauds and helped law enforcement and regulators hold those responsible accountable.
Find out how we do it and why international criminals hate us at 7th Annual OffshoreAlert Conference Europe, which will take place at the Grange St. Paul’s Hotel, in London, on November 12-13th, 2018.
To register for this event, please visit www.oaclondon.com.
About The OffshoreAlert Conference
The conference will show attendees how to detect and avoid serious financial crime such as investment fraud, corruption, and money laundering; recover assets if it’s already taken place, and evaluate investment opportunities.
Speakers include regulators, fraud and asset recovery attorneys, insolvency practitioners, litigation funders, intelligence experts, forensic accountants, investigative journalists, blockchain specialists, data analysts, and financial service providers.
OffshoreAlert was launched in 1997 as an investigative financial news service, specializing in investigating offshore finance scams. Since then, OffshoreAlert has exposed more than 175 investment frauds and helped prosecutors and regulators take action against those responsible.
OffshoreAlert held its first conference in 2002 and has now organized 23 conferences which have been attended by more than 5,000 delegates from over 30 countries.
OffshoreAlert is known for putting on cutting-edge sessions (FIFA corruption was exposed in 2010 – five years before criminal indictments were brought, for example) and bringing together investigators, providers, and buyers of high-value international finance from onshore and offshore financial centers for unparalleled networking opportunities.
“It’s like that famous bar in ‘Star Wars’, where they all come together — the good guys, the bad guys, the seriously guilty — and they all exchange information on neutral territory”