An ordinary IBC in Nevis that operates as an unlicensed mutual fund has collapsed owing an estimated $50 million to approximately 1,100 shareholders.Approximately $100 million is believed to have gone into The Genesis Fund Ltd. but about half of it was repaid as interest payments, according to a client's representative.
Articles Costa Rica Featured Fraud Investment Macau Panama St. Kitts & Nevis St. Vincent & the Grenadines USA Vanuatu Western SamoaOctober 31, 2002
Unlicensed Genesis Fund collapses amid fraud allegations
14 years ago
TopicsCosta Rica Fraud Investment Macau Panama [ 5 more... ] [ top 5 ]
KeywordsArnold Mitchell Barbara Seibel Bill Murick Bob LaSpada Brian Patterson
Commodity Trading Management Group, Ltd. Dave Johnson Doug Russell Gary Miner Genesis Fund George Boeck George Dennison Sprague Helena Pacheco Igor Toshchakov Igrok Trading School International Bright Investment, Ltd. Janet Alexander John Lipton Kenneth Bredesen Lou Baldelli Margaret Lam Mark Sanders Mark Schwartz Maurice Lewis Mills Michael John Williams Michael Putnam ND Holdings Ltd. Nevis American Trust Company Patrick Phipps Rayhill Hagist Rebecca Jones Robert Ghirelli Robert Hallstrom Stephen Napier Teresa Vogt United Trust Company Victor Preston Wayne Traub Wendell Shirk William Hanck William Taylor-Fraser[ 36 more... ] [ top 5 ]