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Privilege Wealth suspends redemptions amid shooting & ‘$40m deficit’

Chris Burton
Chris Burton
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By
5 years ago

Topics

British Virgin Islands Cayman Islands Channel Islands Curaçao Fraud
Gibraltar Guernsey Hong Kong Investment Jersey Liquidations & Insolvencies Listed Securities Luxembourg Panama Seychelles South Africa Spain USA United Arab Emirates United Kingdom
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Keywords

Anafin Capital Andrew Sweeney Appleby Brett Jolly Christopher Kamyczek
Christopher Rafal Burton Corinthian Trust Company CT Secretaries David Marchant GoBMV Helix Investment Management Jeremy Clark KPMG Mark Munnelly Martin Sampson Noel Anthony Donohue Noel Anthony Donovan Peter Stokes Premier Advice Club Ltd. Privilege Wealth Richard Colwell Richard Harold Davison Royal Bank of Scotland St. James International
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Highlights

  • Panama call center boss Chris Burton shot three times but survives murder attempt
  • Burton arrested in hospital on warrant from Spain, where he is wanted for fraud
  • Privilege Wealth insider says group is insolvent by at least $40m
  • Privilege Wealth admits redemptions are suspended, refuses to confirm or deny insolvency

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Five months after being exposed as a fraud by OffshoreAlert, the Privilege Wealth investment scheme has collapsed, with an insider claiming there is a deficit of more than $40 million. Redemptions to investors have been suspended, Privilege Wealth's main office - a call center in Panama - has closed after the attempted murder of its boss - a fraud fugitive in Spain - and unpaid payroll and the group's registered agent in Gibraltar has resigned.

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