Four days before a trial was due to start in the Cayman Islands, British fund manager Jeremy Leach and eight of his firms settled a fraud complaint by agreeing to pay $11.5 million over 22 months, OffshoreAlert can reveal. Despite a plethora of red flags, the Cayman Islands Monetary Authority continues to license Leach's Managing Partners Group and its funds and the group also operates entities in the British Virgin Islands, England, Malta, Spain, and Switzerland.
Tenth Report of the Joint Official Liquidators of Cayman Islands-domiciled Traded Life Policies Fund and Diversified Settlements Fund, both in Official Liquidation.
British asset manager Jeremy Leach, whom OffshoreAlert has previously exposed for operating what appear to be Ponzi schemes, is being sued for fraud in the Cayman Islands by the liquidators of Traded Life Policies Fund, which is allegedly insolvent by at least $21 million.
Writ of Summons and Statement of Claim alleging fraud in Traded Life Policies Fund (in Official Liquidation) and Michael Penner (as Joint Official Liquidator of Traded Life Policies Fund) v. Jeremy Leach, of Arundel, West Sussex, England; William McClintock, of Romsey, England; Managing Partners Limited, Praesidium Investment Fund, Sovereign High Security Fund SPC, Corinthian Growth Fund, and Traded Policies Fund, all of the Cayman Islands; Taurus Administration Services SL, of Spain, and MPL Asset Management SA, of Switzerland, at the Grand Court of the Cayman Islands.
A Cayman Islands fund - Traded Life Policies Fund - has become the latest investment scheme operated by Marbella-based, British fund manager Jeremy Leach to collapse in dubious circumstances.
Judgment by Default in Managing Partners Limited and Traded Policies Fund v. Life Policy Group Plc at the Grand Court of the Cayman Islands.
Writ of Summons in Managing Partners Limited and Traded Policies Fund v. Life Policy Group Plc at the Grand Court of the Cayman Islands.