Margaret Lam

SHOWING:

1 to 1 of 1 result
  

Sort By:

Search

Filter By:

Topics

Jurisdictions

show more show less

Allegations

Unlicensed Genesis Fund collapses amid fraud allegations

An ordinary IBC in Nevis that operates as an unlicensed mutual fund has collapsed owing an estimated $50 million to approximately 1,100 shareholders.Approximately $100 million is believed to have gone into The Genesis Fund Ltd. but about half of it was repaid as interest payments, according to a client's representative.