Swan Group

First exposed by OffshoreAlert in 2015, the Scotland-based Swan Group is a notorious vehicle for swindling investors, specializing in property-based investment scams. The group's controllers, at least until 2019, were Britons Philip McGinlay and Brian Weal, the later of whom has been a director of at least four British firms that have gone into liquidation. In one scam, Swan Group affiliate Etaireia Investments sought to raise funds from investors by announcing that it had received planning permission to build 152 residential units on land it owned in Scotland. After OffshoreAlert revealed this was false, trading in Etaireia's shares was suspended on the London-based ICAP Securities & Derivatives Exchange and the company publicly acknowledged that it hadn't even applied for planning permission, much less received it. Other frauds that Swan Group or its principals have been involved with include Advalorem Value Asset Fund, Kijani Commodity Fund, and Symtomax.

Timeline

April

2015

Minette Compson et al v. Gibraltar Financial Services Commission: Judgment

Judgment in Minette Compson and Brian Peter Weal v. Gibraltar Financial Services Commission at Gibraltar Supreme Court.

April

2015

Minette Compson: Disqualification

Decision Notice by the Gibraltar Financial Services Commission disqualifying Minette Compson for being "not a fit and proper person".

May

2015

BUSTED: British & Irish expats who help Belvedere Group swindle investors

One day after new directors were appointed to 'ensure' that Cayman-domiciled Brighton SPC would be operated legally, the Fund illegally acquired a Gibraltar firm with bogus assets of $125 million, OffshoreAlert can reveal. The transfer allowed Belvedere and its accomplices in Britain, Dubai, Gibraltar, Spain and elsewhere to continue securities frauds involving firms listed on stock exchanges in Denmark, England and Germany.

June

2015

Belvedere associate Brian Weal’s latest fraud: Publicly-listed Etaireia Investments

OffshoreAlert's continuing investigation into Belvedere Management Group and its affiliates has uncovered another ongoing investment fraud, this one involving British firm Etaireia Investments Plc, whose shares are listed on the London-based ICAP Securities & Derivatives Exchange and which has raised at least £1.5 million over the last 15 months.

July

2015

Trading in shares of Etaireia Investments suspended after OffshoreAlert exposé

Trading in shares of British firm Etaireia Investments Plc were suspended on the London-based ICAP Securities & Derivatives Exchange yesterday - two days after OffshoreAlert exposed the company's fraudulent activity.

July

2015

British firm Etaireia Investments admits OffshoreAlert’s exposé was true

Three days after being exposed by OffshoreAlert, publicly-listed British firm Etaireia Investments Plc has admitted it falsely announced last year that it had received planning permission for a substantial residential development on land it owns in Scotland. The company is blaming the fraud on a former director, Stuart Black.

October

2016

EXPOSED: ‘Privilege Wealth’ global investment fraud

Notorious British swindler Brett Jolly is secretly behind a global investment fraud being perpetrated under the name 'Privilege Wealth', OffshoreAlert can reveal. The scheme involves a sprawling web of companies and operators in Bermuda, BVI, Cayman Islands, Curacao, Dubai, Gibraltar, Guernsey, Jersey, Luxembourg, Panama, Seychelles, South Africa, Spain, UK, and USA.

December

2016

Pensions Regulator v. Timothy Walker et al: Determination Notice

Determination Notice in The Pensions Regulator v. Timothy Walker, Macalister Lindsay, and Desmond Cheyne.

September

2017

Malta’s Argentarius Group kicked off Gibraltar Stock Exchange

Argentarius Group, which operates investment platforms in Malta, Gibraltar and the Cayman Islands on which several suspect schemes have been trying to raise funds, has been kicked off the Gibraltar Stock Exchange.

August

2019

British fraud firm Etaireia Investments goes into administration

British firm Etaireia Investments Plc has gone into administration - four years after being exposed by OffshoreAlert for perpetrating a property-based investment fraud involving firms and individuals in the BVI, England, Gibraltar, Isle of Man, Scotland, Seychelles, and Spain.

January

2020

EXPOSED: Symtomax Group’s fraudulent €12M Bond Offering

A €12 million bond offering by British nationals Minette Coetzee, a.k.a. Minette Compson, and Paul Segal via their Symtomax Group for a purported medical cannabis production facility in Portugal is fraudulent, OffshoreAlert can reveal. The scheme involves entities and individuals in the BVI, Canada, Dubai, England, Gibraltar, Morocco, Netherlands, Panama, Portugal, Scotland, Spain, South Africa, and Switzerland.

March

2020

Swan Developments Management Ltd.: Winding-Up Order

Notice of Court Order in a Winding-Up filed by Swan Developments Management Limited with Companies House in Britain.

April

2020

Swan Developments becomes latest member of British fraud group to collapse

Scotland-based Swan Developments Management Limited has become the latest firm to go into liquidation that was operated by, or associated with, the notorious Swan Group of British investment fraudsters.