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Luxembourg’s Polaris Financial Investments touts ‘success’ of Cayman ‘ancestor’ fund SPI (even though it failed amid allegations of fraud and ‘$118M+ missing’)

Polaris Team

Insolvent Cayman Islands fund SPI, which collapsed in 2023 amid allegations of fraud and its liquidators claiming over $118 million has “disappeared”, is being held out as a success in promotional material for a successor Luxembourg scheme operated by two of its former principals, Swiss asset manager Marc-André Pepin and British fund director Gareth Williams, via their Luxembourg firm Polaris Financial Investments.

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