Gerova Advisors LLC

Seven people have been criminally indicted in the United States for an alleged securities fraud involving purported reinsurer Gerova Financial Group - a former Cayman Islands firm that moved to Bermuda - that brought them nearly $20 million in profits.

Complaint alleging fraud regarding Bermuda-based Gerova Financial Group, Ltd. in U. S. Securities and Exchange Commission SEC v. Jason W. Galanis, John P. Galanis, Jared M. Galanis, Derek M. Galanis, Gary T. Hirst, and Gavin L. Hamels at the U. S. District Court for the Southern District of New York.

Winding Up Petition in Herbert S. Feinberg IRA, DVFG Benefits, Inc. Pension Plan, Claire Annechini IRA, Lester Clippinger IRA, Seravalli Financial Group Inc. PSP, The Belk Foundation, The Benedict Foundation for Independent Schools, Lilly Thoma IRA and Warren A. Hunter IRA v. Wimbledon Financing Fund Ltd. at the Grand Court of the Cayman Islands.

Chapter 15 Petition for Recognition of a Foreign Main Proceeding in Bermuda by Michael Morrison, Charles Thresh, and John McKenna, as the Foreign Representatives of Gerova Financial Group Ltd. and Gerova Holdings Ltd., at the U. S. Bankruptcy Court for the Southern District of New York.

A Bermuda based, New York Stock Exchange listed group that was granted a Bermuda insurance license last June is "likely fraudulent", according to an investment research firm in the United States.Gerova Financial Group Ltd., which moved its domicile from the