In further bad news for investors in the failed Privilege Wealth investment scam, the company that purportedly insured investors' capital was today compulsorily struck off Guernsey's corporate register.
Letter to investors from Privilege Wealth Management Limited, as general partner of Privilege Wealth One LP, notifying them that Privilege Wealth Plc has gone into administration and that the group is insolvent.
In ominous news for investors in Privilege Wealth's insolvent $40 million investment scheme, the company they were told was insuring their principal - Affinity Insurance PCC Limited - has lost its insurance license in Guernsey.
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.