Nearly six months after an OffshoreAlert exposé, the Cayman Islands Monetary Authority has petitioned to wind up Belvedere Management Group investment vehicle Brighton SPC, citing evidence of fraud "from inception" in which at least US$83 million of investors' funds has disappeared.
Letter from BVI-based Drake Fund Advisors Ltd. to shareholders of Cayman Islands-domiciled Brighton SPC announcing the resignation of its board of directors and the identities of proposed new directors.