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

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.