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Articles Cayman Islands Featured Fraud Gibraltar Investments Liquidations & Insolvencies Luxembourg Panama Poland Privilege Wealth Spain United Kingdom USAMarch 1, 2018

Privilege Wealth Plc reports £42M ‘deficiency’

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4 years ago

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Cayman Islands Fraud Gibraltar Investments Liquidations & Insolvencies
Luxembourg Panama Poland Spain USA United Kingdom
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Alison Laura Hughes Bowline Private Fund (Cayman) Ltd. Brett Jolly Caledonia Investments SL David Richard Saint
David Rubin & Partners David Terence Robertson Gibson Talent HELIX Investment Management SLP Horizon Projects SL John Kelmanson John Richard Searle Kelmanson Insolvency Solutions Knill James Chartered Accountants Lewis Silkin Mark Anthony Taylor Mark Munnelly Martin Sampson Paul Spencer Sagar Peter Stokes Privilege Direct SA Privilege Wealth Richard Colwell Roger John Edwards Simon William Oakley Stephen Katz Stuart Eric Galer Tomasz Pawelek Waystone
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In a 'Statement of Affairs' filed with Companies House in Britain yesterday, investment fraudster Privilege Wealth Plc reported an estimated deficiency of £42 million. Of that amount, the company reported that £39.55 million is owed to investors, £2.5 million owed to its directors, and £124,038 to trade creditors.
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    David Marchant

    David Marchant is the founder, owner, and editor of OffshoreAlert. He is a career journalist who has lived and worked in Wales, England, Bermuda, and the USA. Since launching OffshoreAlert in 1997, he has exposed more than 175 investment fraud and money laundering schemes and helped law enforcement, regulators, and asset recovery specialists imprison, discipline, and seize the assets of those responsible. Fraudsters have sued for defamation in Canada, Cayman Islands, England, Grenada, Panama, and the United States, with several plaintiffs subsequently going to prison, including one for 17 years. He has appeared in TV shows and documentaries, including The Daily Show with Jon Stewart, American Greed, We're Not Broke, and The Price We Pay and been quoted or referenced in countless news articles, books, and reports.

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