{"id":34217,"date":"2013-04-10T22:03:48","date_gmt":"2013-04-11T02:03:48","guid":{"rendered":"http:\/\/www.bahamasb2b.com\/news\/?p=34217"},"modified":"2013-04-10T22:03:48","modified_gmt":"2013-04-11T02:03:48","slug":"major-concern-over-benchmark-investment","status":"publish","type":"post","link":"https:\/\/www.bahamasb2b.com\/news\/2013\/04\/major-concern-over-benchmark-investment","title":{"rendered":"Major Concern Over Benchmark Investment"},"content":{"rendered":"<figure id=\"attachment_34220\" aria-describedby=\"caption-attachment-34220\" style=\"width: 200px\" class=\"wp-caption alignleft\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-34220\" title=\"julian-brown\" src=\"https:\/\/www.bahamasb2b.com\/news\/wp-content\/uploads\/2013\/04\/julian-brown.jpg\" alt=\"\" width=\"200\" height=\"150\" srcset=\"https:\/\/www.bahamasb2b.com\/news\/wp-content\/uploads\/2013\/04\/julian-brown.jpg 200w, https:\/\/www.bahamasb2b.com\/news\/wp-content\/uploads\/2013\/04\/julian-brown-150x112.jpg 150w\" sizes=\"auto, (max-width: 200px) 100vw, 200px\" \/><figcaption id=\"caption-attachment-34220\" class=\"wp-caption-text\">Julian Brown<\/figcaption><\/figure>\n<p>The $5 million investment in a BISX-listed firm\u2019s preference shares \u201cis of considerable concern\u201d to the liquidators of its largest client, who have warned that the deal will receive their \u201ccontinued attention\u201d.<\/p>\n<p>Kevin Seymour and Kevin Cambridge, the PricewaterhouseCoopers (Bahamas) accountants, in their first report to the Supreme Court on the BC Capital Group liquidation, criticised the \u201csubstantial intermingling\/commingling\u201d of its assets by Alliance Investment Management, the wholly-owned subsidiary of BISX-listed Benchmark (Bahamas).<\/p>\n<p>The liquidators alleged that this had helped to conceal the $27.564 million overdraft run up by BC Capital Group\u2019s principal, Nikolai Battoo, who they claimed had benefited from $29 million worth of \u201cquestionable payments\/withdrawals\u201d from his scheme.<\/p>\n<p>And the liquidators, in their March 28, 2013, report that has been obtained by Tribune Business, alleged that Alliance\u2019s two principals were \u201cunable to provide satisfactory explanations\u201d for what were termed \u201cinconsistencies\u201din investment statements sent to BC Capital Group clients.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The $5 million investment in Alliance Investment&#8217;s preference shares has concerned accountants who have warned that the deal will receive their \u201ccontinued attention\u201d.<\/p>\n","protected":false},"author":13,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"facebook_10223285771444175_51037792744":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[3],"tags":[98],"class_list":["post-34217","post","type-post","status-publish","format-standard","hentry","category-business","tag-financial"],"_links":{"self":[{"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/posts\/34217","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/comments?post=34217"}],"version-history":[{"count":0,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/posts\/34217\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/media?parent=34217"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/categories?post=34217"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/tags?post=34217"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}