Winding Up Petition in Edmund L. Rahming, Mark Nicholas Cropper, and Alastair Beveridge, as Joint Voluntary Liquidators v. Blue Flamingo Ltd. (in Voluntary Liquidation) at Bahamas Supreme Court.
Winding Up Petition in Edmund L. Rahming, Mark Nicholas Cropper, and Alastair Beveridge, as Joint Voluntary Liquidators v. Blue Ibis Ltd. (in Voluntary Liquidation) at Bahamas Supreme Court.
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.
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".
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.