By David Marchant From OffShoreAlert

Belvedere Management Group fund vehicle Brighton SPC, which was exposed as a fraud by OffshoreAlert 11 weeks ago, has been taken over by the Cayman Islands Monetary Authority [CIMA] following the completion of a “forensic examination”.

For more: https://mail.google.com/mail/u/0/h/ubbxl79hzj40/?&th=14db58a4e78a6c2e&v=c

Re: Brighton SPC- In Controllership

From CIMA

The public is advised that effective 1st June 2015 the Cayman Islands Monetary Authority (“the Authority”) appointed David Alexander Kenneth Walker and Simon Richard Conway (“the Controllers”) of the firm of PwC Corporate Finance & Recovery (Cayman) Limited to assume control of the affairs of Brighton SPC (“the Fund”) pursuant to Section 30(3)(e) of the Mutual Funds Law (2013 Revision) (“the Law”).

This appointment follows upon the Authority’s authorisation on 30th April 2015 for Messrs. Walker and Conway to perform a forensic examination of the Fund to assist the Authority in the performance of its powers and functions, pursuant to Section 29(3) of the Law.

Effective with this appointment the Controllers assumed immediate control of the affairs of the Fund and have all the powers necessary, to the exclusion of any operator, to administer the affairs of the Fund in the best interests of its investors and creditors. The Controllers are also responsible for assessing the financial position of the Fund and submitting a report to the Authority by the specified deadline.

Written enquiries to the Controllers should be forwarded to Ben Henshilwood by email at [email protected] or telephone (345) 914-8743.

See iNews Cayman related story and links published May 31 2015 “Belvedere Ponzi scheme with Cayman Islands connections makes headlines again” at: http://www.ieyenews.com/wordpress/belvedere-ponzi-scheme-with-cayman-islands-connections-makes-headlines-again/

IMAGE: www.moneyweb.co.za