06 April 2017
In re Arck Estrela Limited – untangling a fraudster’s web of trust and corporate structures
Carey Olsen continues to operate at the forefront of offshore asset recovery work and the development of insolvency law and process in Jersey.
Carey Olsen were instructed by English liquidators or Arck LLP (in liquidation) to assist in the recovery of assets misappropriated from a large number of British investors and channelled through Jersey corporate and trust structures as part of a fraudulent collective investment scheme.
A substantial part of the LLP investors’ money was funnelled through Jersey companies, purportedly to invest in tourism real estate assets in the Cape Verde Islands. The complex structure of corporate and trust vehicles put in place by the fraudsters stood between the UK liquidators and any chance of recovering any value.
Carey Olsen partner Jeremy Garrood and Senior Associate Richard Brown advised on this matter.
To read more on this case please see our briefing published in the Briefings section of careyolsen.com or via the Related News link.