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Geoffrey Willcocks v. Wakefield Quin et al: Writ of Summons

Generally Endorsed Writ of Summons alleging breach of fiduciary duty, breach of trust, fraudulent disposal of trust property by trustee, dishonest appropriation of property, and conspiracy to defraud in Geoffrey Lynn Randall Willcocks v. Joseph E. Wakefield, a lawyer, and Wakefield Quin Limited, a law firm, at Bermuda Supreme Court.
December 31, 2021

Bermuda and Curacao funds used to launder $125M fraud proceeds, say police

Offshore funds in Bermuda and Curacao - ADG Absolute Diversified Growth Fund and Enterprise Emerging Markets Fund - were used by fraudsters in India to launder the proceeds of a $125 million investment scam by Bombay Stock Exchange-listed technology firm Geodesic Ltd., according to Mumbai police.
June 21, 2017

KPMG drops bribery lawsuit against US PI firm, but Bermuda Fund files similar complaint

A civil lawsuit in the United States that was notable for the unusual level of secrecy afforded to the parties by the judge has been dismissed.Bermuda-based KPMG Financial Advisory Services Limited and its two managing directors, Malcolm Butterfield and Michael Morrison, had been seeking $11 million in compensatory and punitive damages against Diligence LLC, a Washington, D.C.-based private investigative agency/risk management firm whose employees and advisers include former high-ranking officials within the CIA, FBI, US Government, UK Government and UK special forces.
June 28, 2006

US court denies motion to dismiss IPOC ‘bribery’ lawsuit

A U. S.-based intelligence-gathering firm has failed to have a civil lawsuit dismissed in which it is accused of bribing an employee of KPMG (Bermuda) to disclose information about an investigation into alleged money laundering by a sham mutual fund group known as IPOC. Diligence LLC had asked the U. S. District Court for the District of Columbia to dismiss a complaint brought by KPMG Financial Advisory Services Ltd. and its Managing Directors, Malcolm Butterfield, and Michael Morrison, on the grounds that Bermuda was a more convenient forum and that an “indispensable party” is missing from the action, namely the Bermuda Government, which commissioned KPMG FAS to investigate IPOC.
March 6, 2006

Bermuda Gov’t suspected of whitewashing alleged $1 b money laundering scheme

A James Bond-like tale involving allegations of corporate espionage, bribery, corruption, and a Bermuda Government whitewash of a suspected $1 billion money laundering scheme is unfolding in a U. S. court. Among the cast of characters are Russia's Telecommunications Minister, Leonid Reiman; a Bermuda-based, so-called mutual fund in which Reiman appears to be the only investor and which he may have used to launder the proceeds of corruption, IPOC International Growth Fund Ltd.; IPOC's banker, fund administrator, custodian, and accountant, Bermuda Commercial Bank; IPOC's Bermuda representative and provider of various services, including directors and officers, Wakefield Quin; the firm appointed by Bermuda's Minister of Finance to investigate IPOC, KPMG Financial Advisory Services Ltd.; and Diligence LLC, a Washington, D.C.-based intelligence-gathering firm that is headed by a former officer of the U.K. Security Service known as MI5 and whose advisors include a former Director of the CIA and the FBI.
February 4, 2004

IPOC Fund President resigns after criminal past is disclosed

The founding president/director of a Bermuda-registered open-ended mutual fund has resigned after it was disclosed that he had served a prison term in Germany in 1997-99 for fraud and embezzlement. Vidya Sharma, apparently a former Merrill Lynch banker, stepped down from IPOC International Growth Fund Ltd. in October of last year after his criminal conviction came out during court proceedings involving the Fund in the British Virgin Islands.
January 31, 2004