Press Release by South Africa's Financial Sector Conduct Authority announcing that an "inspection found no evidence of any breaches of the relevant South African financial sector laws" by Jacobus Kellermann.
Thailand-based British financial adviser Paul Gambles and his MBMG Group, including firms in the BVI, Mauritius, Singapore, and Thailand, are being sued for $3.5M in Bermuda by a U.S. client whose cash was invested in funds managed by the Belvedere Management Group, whose fraudulent operations were exposed by OffshoreAlert in 2015.
Specially Endorsed Writ of Summons in Thomas Doctoroff, of New York, NY v. Crown Global Life Insurance Ltd., of Bermuda; Paul Gambles, a citizen of the United Kingdom residing in Thailand; MBMG Investment Advisory Company Ltd., of Thailand; MBMG Group Singapore Pte., of Singapore; MBMG International Custodians Ltd., of the British Virgin Islands; MBMG Asset Management Limited, of Mauritius, and Garmor Asset Management Ltd., of Mauritius, at Bermuda Supreme Court.
The liquidators of Gibraltar-domiciled Kijani Resources Ltd. and Ratio Ltd. intend to sue NatWest Bank for "dishonest assistance" to a $98 million fraudulent scheme headed by Irishman Richard Fagan that collapsed in 2015 after being exposed by OffshoreAlert.
Final Report of the Joint Administration Managers of The Global Mutual Fund PCC Limited, The Worldwide Mutual Fund PCC Limited, and The Universal Mutual Fund ICC Limited - all part of the Belvedere Management Group - to The Royal Court of Guernsey and Investors.
For a few years now, I've been flabbergasted by articles published by South African financial news service Moneyweb about Belvedere Management Group, which OffshoreAlert exposed as a global criminal financial enterprise in 2015.Since OffshoreAlert's exposé, Moneyweb has gone out of
British firm Teyuteme Oil Plc, which OffshoreAlert exposed as a 'crude vehicle to fleece investors' 27 months ago, has gone into liquidation with an estimated £10.9 million loss of funds invested by a Gibraltar company that's owned by a Cayman Islands fund vehicle.
Public Notice by the Mauritius Financial Services Commission announcing the recovation of the Global Business Category 1 License, the Investment Adviser (Unrestricted) License and the CIS Manager License held by RDL Management Ltd.
The Mauritius Financial Services Commission yesterday took action against three more companies - Belvedere Fund Manager Limited, Rejuvenation PCC Limited and Theseus Property Fund Ltd. - that are part of the Belvedere Management Group, which was exposed as a global criminal financial enterprise last year by OffshoreAlert.
Public Notice by the Mauritius Financial Services Commission announcing the suspension of the Manager nd Investment Adviser Licenses of Belvedere Fund Manager Limited.
Seventeen months after being exposed as a serial fraudster by OffshoreAlert, Irishman David Cosgrove has been banned from serving as a corporate officer in Mauritius, while fellow director Francess Henriette was also banned and Belvedere Management Limited has its management license revoked.
Public Notice by the Mauritius Financial Services Commission announcing the revocation of the Management Licence of Belvedere Management Limited.
A British affiliate of Belvedere Management Group that is ultimately-owned by Cayman Islands-domiciled Brighton SPC has been wound up "in the public interest" in London for involvement in a boiler room fraud that swindled investors out of £36 million. Another Belvedere affiliate is fighting a similar winding-up petition.
First Report of the Joint Administration Managers and the Joint Liquidators (Grant Thornton) of The Global Mutual Fund PCC Limited, The Worldwide Mutual Fund PCC Limited, The Universal Mutual Fund ICC Limited, and The Trinity Global Fund - all part of the Belvedere Management Group - to The Royal Court of Guernsey and Investors.
First Report of Joint Official Liquidators in Cayman Islands Monetary Authority v. Brighton SPC at the Grand Court of the Cayman Islands.
Two more Belvedere Management Group investment vehicles - The Two Seasons PCC and Venture Assets PCC - have been closed down by the Financial Services Commission in Mauritius.
Nearly six months after an OffshoreAlert exposé, the Cayman Islands Monetary Authority has petitioned to wind up Belvedere Management Group investment vehicle Brighton SPC, citing evidence of fraud "from inception" in which at least US$83 million of investors' funds has disappeared.
Offshore stockbroker CityGate Securities Limited, which is part of the fraudulently-operated Belvedere Management Group, has had its license suspended by the Mauritius Financial Services Commission.
More than one-third of the nearly €200 million of assets reported by one of Belvedere Management Group's offshore fund vehicles in 2013 was doubtful, according to auditor BDO (Mauritius).
OffshoreAlert's continuing investigation into Belvedere Management Group and its affiliates has uncovered another ongoing investment fraud, this one involving British firm Etaireia Investments Plc, whose shares are listed on the London-based ICAP Securities & Derivatives Exchange and which has raised at least £1.5 million over the last 15 months.
Kijani Resources Limited, which is a key component of international investment frauds committed by Irishman David Cosgrove's and South African Cobus Kellermann's Belvedere Management Group, has gone into liquidation in Gibraltar.
Citing 'breach of fiduciary duty', the Mauritius Financial Services Commission has suspended the license of trust company Belvedere Fiduciary Limited, which is part of a rapidly-disintegrating fraudulent global business empire controlled by Irish business consultant David Cosgrove and South African fund manager Cobus Kellermann.
The listings of British firms Eligere Investments Plc and Fulhold Pharma Plc, which are controlled by Mauritius-based fraud group Belvedere Management, were suspended yesterday by Danish stock exchange GXG Markets.
Belvedere Management Group fund vehicle Brighton SPC, which was exposed as a fraud by OffshoreAlert 11 weeks ago, has been taken over by the Cayman Islands Monetary Authority following the completion of a "forensic examination" by the regulator.
Public Notice by the Mauritius Financial Services Commission announcing the suspension of the 'Management License' of trust company Belvedere Fiduciary Limited.
One day after new directors were appointed to 'ensure' that Cayman-domiciled Brighton SPC would be operated legally, the Fund illegally acquired a Gibraltar firm with bogus assets of $125 million, OffshoreAlert can reveal. The transfer allowed Belvedere and its accomplices in Britain, Dubai, Gibraltar, Spain and elsewhere to continue securities frauds involving firms listed on stock exchanges in Denmark, England and Germany.
A Guernsey regulator has essentially portrayed Belvedere Management Group principals David Cosgrove and Cobus Kellermann as serial fraudsters with little or no regard for the well-being of investors who, including other funds around the world, have entrusted them with hundreds of millions of dollars and possibly billions since the group began in or around 2008.
Affidavit by Paul Yabsley, Senior Analyst in the Enforcement Division of The Guernsey Financial Services Commission, in The Guernsey Financial Services Commission v. Lancelot Management Limited, The Global Mutual Fund PCC Limited, The Universal Mutual Fund ICC Limited, The Worldwide Mutual Fund PCC Limited, and The Trinity Global Fund at The Royal Court of Guernsey.
Victims of Belvedere Management Group's global fraud scheme were pouring so much money into its London division that 33-year-old boss Anthony Constantinou regularly threw huge wads of cash up in the air for employees to grab as it rained down or scoop from the floor while on their hands and knees, according to a former employee.
The Mauritius Financial Services Commission today closed down a third company that was exposed by OffshoreAlert 13 days ago as being part of a massive investment fraud perpetrated by Belvedere Management Group. RDL Management Ltd. had its 'Collective Investment Scheme Manager License' suspended and was placed into administration.
Public Notice by the Mauritius Financial Services Commission announcing the appointment of Joint Administrators of RDL Management Ltd., which is co-owned by David Cosgrove and Cobus Kellermann and is part of the Belvedere Management Group.
Public Notice by the Mauritius Financial Services Commission announcing the suspension of Collective Investment Scheme Manager License of RDL Management Ltd., which is co-owned by David Cosgrove and Cobus Kellermann and is part of the Belvedere Management Group.
Public Notice by the Mauritius Financial Services Commission announcing the appointment of Joint Administrators for Lancelot Global PCC and The Four Elements PCC, which are part of the Belvedere Management Group.
Cayman Islands-domiciled hedge fund Brighton SPC has been suspended by its directors, David Egglishaw and John Cullinane, after OffshoreAlert revealed it was part of a criminal financial enterprise operated by Mauritius-based Belvedere Management Group.
Two key investment fund companies operated by Belvedere Management Group - Lancelot Global PCC and The Four Elements PCC - have had their business licenses revoked in Mauritius - four days after the group was exposed as a massive criminal enterprise by OffshoreAlert.
Offshore fund group Belvedere Management, which claims to have $16 billion of assets under administration, management and advisory, appears to be one of the biggest criminal financial enterprises in history, headed by David Cosgrove, Cobus Kellermann and Kenneth Maillard, OffshoreAlert can reveal.
Financial Statements of The Four Elements PCC Limited for the year ended December 31, 2013. In issuing a qualified opinion, auditor BDO stated that more than one-third of the claimed assets of nearly €200 million might not exist or be recoverable.