Citco Trust Corporation Ltd. Operating as Citco Trust Corp. - Advisory Warning No. 1 of 2015 (2015-02-11)

Summary

This is a public advisory issued by the British Virgin Islands Financial Services Commission (FSC) warning that an unlicensed entity calling itself CITCO TRUST CORPORATION LTD (also using the name CITCO TRUST CORP) is impersonating the genuine BVI-licensed company Citco Trust Corporation Limited. It is informational and warns the public rather than imposing regulatory requirements on licensees.

• Impersonation identified: An entity using the names CITCO TRUST CORPORATION LTD and CITCO TRUST CORP is falsely presenting itself as, or being confused with, the genuine BVI licensee CITCO TRUST CORPORATION LIMITED.
• Individuals named: Steven Barkley, Robin van der Beek, Adam Lawrence and Ross Wylie are confirmed not to be associated with or employed by the genuine BVI licensee.
• Related scheme described: The impersonator purports to act as investment advisor and administrator to COLONIAL EQUITY LLC, which in turn purports to offer a take-over bid for ZAMARAT MINING; none of these entities are licensed or connected to the genuine Citco Trust Corporation Limited.
• FSC confirmation: The FSC confirms the impersonator entity has never been registered or licensed to carry on financial services business in or from the Virgin Islands.
• Public advised to exercise caution: Members of the public are urged to exercise extreme caution if solicited by the impersonator or the named individuals, and to verify licensing status via the FSC website.
• Legal basis: The advisory is issued under Section 4(1)(l) of the Financial Services Commission Act, 2001.

The FSC also invites the public to report any information on this or other questionable entities purportedly operating in or from the Territory. No compliance obligations are placed on regulated entities by this notice.

Applies to

members of the public, trust companies