£2.7 MILLION FRAUD TRIAL BEGINS IN JERSEY’S ROYAL COURT

Bailiwick Express on 14th August reported that the fraud trial has begun of Chris Byrne, 50, accused of losing £2,730,000 of clients’ money by knowingly getting them to invest in a unlicensed high-risk company, Lumiere Wealth Limited, without having told them all the facts; and through a Brazilian company called Providence which was said to deal in Brazilian factoring – a financial process whereby it would buy up company debts for less than the total amount and profit by chasing up those debts.  The company’s boss Antonio Buzaneli promised investors massive returns of up to 28%.

https://www.bailiwickexpress.com/jsy/news/lumiere-wealth-fraud-trial-begins/?t=i#.W3KOJvZFx9A

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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