Fund administrator Citco knew that Lancer Offshore was fraudulently valuing assets nearly two years before the fund collapsed but its sole concern was how to extricate itself from the $400 million insolvency, rather than warn investors and regulators. That is the most serious allegation contained in a civil lawsuit that was filed as long ago as January 14, 2005 at the U. S. District Court for the Southern District of Florida but kept sealed until February 21, 2006 due to concerns that its release may breach a court order prohibiting disclosure of certain information. It is supported by copies of extraordinary email exchanges between Citco's senior executives that were disclosed in discovery that Citco opposed.
Articles British Virgin Islands Featured Fraud Investment Ireland Liquidations & Insolvencies Netherlands Antilles United Kingdom USAMarch 6, 2006
Emails show Citco knew of Lancer fraud long before collapse, says Receiver
16 years ago
TopicsBritish Virgin Islands Fraud Investment Ireland Liquidations & Insolvencies [ 3 more... ] [ top 5 ]
KeywordsAnthony Stocks Bram Gedopt Bruce Cowen Citco Claudio Cecchini
David Newman Declan Quilligan Dre Barten Edward Heidema First Fidelity Financial Corp. Ger-Jan Meyer Greg Fenlon Inter Caribbean Services Ltd. Kieran Conroy Lancer Offshore Liquidations & Insolvencies Martin Garvey Marty Steinberg Michael Lauer The OmniFund Ltd. William Keunen[ 16 more... ] [ top 5 ]