Investors who were defrauded out of approximately US$19 million by four Cayman Islands-based hedge funds known as the Grand Island Funds received an initial dividend of 57 cents in the dollar last month from the liquidators, with the prospect of up to six cents more as a final dividend. The first distribution was made possible after the liquidators received US$7 million from the Funds’ former service providers, directors and other insiders to settle disputes.
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- Victims of Cayman Islands investment fraud receive 57% initial distribution
Accounting Articles Asset Recovery Banks & Trusts Barbados Canada Cayman Islands Featured Fraud Investment Liquidations & Insolvencies Money Laundering TheftJune 11, 2012
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Caribbean Commodities Limited Close Brothers (Cayman) Limited David Bodden David Walker Donald Holton Hunter, Jr.