Since our article in last month's newsletter, OffshoreAlert has uncovered more information about an offshore-domiciled, United Kingdom-based litigation funding company that casts further doubt about its credibility. One of the founding shareholders of British Virgin Islands-registered Puritan International Ltd., which is offering investors annual returns of 10.5 per cent in an unregistered offering, has gone bust.
An offshore firm is seeking to raise millions of dollars from the sale of an unlicensed investment product that investors are told is "very low risk" and pays out a "guaranteed" annual return of 10.5 per cent. British Virgin Islands-registered Puritan International Limited has launched a "Loan Stock Offering" for investment in the widely abused personal injury litigation funding industry in the United Kingdom.