Edison Sumner

The "only asset" owned by Owen Bethel's Bahamas-based investment firm Montaque Capital Partners Ltd., which appears to be insolvent by more than $10 million as a result of mismanagement and wrongdoing, comprises worthless shares in a long-defunct Florida shell company that was set up by a convicted fraudster to commit another fraud, OffshoreAlert can reveal.

Application to Approve Liquidation Fees, including copy of 'Preliminary Forensic Report of the Joint Voluntary Liquidators', In the Matter of Montaque Capital Partners Ltd. (in Voluntary Liquidation) at the Bahamas Supreme Court.

Second Interim Report of the Joint Voluntary Liquidators of Montaque Capital Partners Ltd. (In Voluntary Liquidation).

Initial claims by customers of Bahamas-based Montaque Capital Partners Ltd. exceed known assets by US$10.4 million, say the firm's liquidators. The gap could widen substantially, though, since the eventual value of customer claims will be "significantly more".

Second Affidavit of Edmund Rahming In the Matter of Montaque Capital Partners Ltd. (in Voluntary Liquidation) at Bahamas Supreme Court.

Bahamas-based financial services provider Owen Bethel said it is "standard practice" for his Montaque Group to register nominees as the "beneficial owners" of IBCs that are ultimately owned by foreign clients when opening accounts with foreign stock brokers.

Letter to the Editor of OffshoreAlert from Owen Bethel regarding allegations against him that were contained in a Settlement Agreement between the Investment Industry Regulatory Organization of Canada (IIROC) and Douglas Ralph Garrod.

Bahamas-based financial services providers Owen Bethel and Edison Sumner lied to a Canadian securities broker regarding the beneficial ownership of accounts that were subsequently used to commit a $25 million fraud, according to a Canadian regulator.

In the Matter of Douglas Ralph Garrod - Settlement Agreement - Investment Dealers Association of Canada - November 1, 2011

First Report of the Joint Voluntary Liquidators of Montaque Capital Partners Ltd. (in Voluntary Liquidation) - October 28, 2011

Petition for court supervision of the voluntary liquidation of Montaque Capital Partners Ltd. (in Voluntary Liquidation) at the Bahamas Supreme Court.

Circular to Customers and Clients of Montaque Capital Partners Limited (in Voluntary Liquidation) - October 11, 2011