Following the collapse of an offshore “Classic Car Fund” registered here in St. Vincent and the Grenadines, several high end European-made vehicles have gone missing.
Independent Financial Services Provider and Appointed voluntary liquidator of the fund,
Mr. Brian Glasgow, in an interview with ANN said during his first report to the investors, a number of concerns were highlighted.
“There is an offshore car fund registered in SVG. I was appointed voluntary liquidator by the promoters of the fund to wind it up. I prepared my first report to the investors and advised that there were a number of concerns.” Glasgow said.
Mr. Glasgow made mentioned of a meeting that he had with FSA, in which he indicated that there was the possibility of fraud.
“I also met with the FSA to indicate that there was a possibility of fraud.”
Glasgow, the appointed voluntary liquidator of the fund said that he is currently in the process of applying to the court the liquidation changed from voluntary; to a court appoint liquidation, which would give him more power to investigate.
“I’m in the process of applying to the court to change from a voluntary liquidation to a court appointed liquidation to give me more powers to investigate the fraud.” the appointed voluntary liquidator said.
According to Glasgow, Clive Evans, CEO of Yachting Financial Solutions, who is quoted in an article on St Vincent Times , advised a number of persons to invest in the fund and he is apparently panicking.