Pangea Offshore High Yield Portfolio, LLC

Four investment funds domiciled in the British Virgin Islands and one in Nevis have been added as defendants to a securities fraud complaint filed by the U. S. Securities and Exchange Commission regarding an alleged scheme that raised over $90 million from at least 45 investors, with some of the funds being sent to the BVI and Bermuda.

Amended Complaint in U. S. Securities and Exchange Commission v. Brian Raymond Callahan, Horizon Global Advisors Ltd., Horizon Global Advisors, LLC, Diversified Global Investments (BVI) LP, The Masters Global Fund, LP, Fiduciary Select Income Fund, LP, Horizon Millennium Investments, LP, Pangea Offshore High Yield Portfolio, LLC, Adam Manson, Distinctive Investments LLC, and Distinctive Ventures LLC at the U. S. District Court for the Eastern District of New York.

Accounts at banks in Bermuda and the British Virgin Islands have been frozen as part of an investigation into an alleged $75 million fraud that involves funds in the BVI and Nevis and an investment adviser in the Cayman Islands.

Application for Temporary Restraining Order in U. S. Securities and Exchange Commission v. Brian Raymond Callahan, Horizon Global Advisors, Ltd., and Horizon Global Advisors, LLC at the U. S. District Court for the Eastern District of New York.

Complaint in U. S. Securities and Exchange Commission v. Brian Raymond Callahan, Horizon Global Advisors Ltd., domiciled in the Cayman Islands; and Horizon Global Advisors, LLC, domiciled in Connecticut, alleging securities fraud regarding investment funds in the British Virgin Islands and Nevis.