It looks like they have management in the UK. Investment managers including hedge fund managers operating from the UK fall within the scope of the UK Financial Services Act and are regulated by the FSA. Hance, first step in doing due diligence would be to check with the FSA to make sure all the appropriate regulation and compliance is in place.
I've been investing in hedge funds for almost a decade, and I also run one. I know what <b>real</b> hedge funds look like, and SP Trader isn't one. I guarantee you this is a Ponzi scheme, 100%. As for their 'UK based management', someone else pointed out that their UK 'office' is just turn-key virtual office space.
According to the propectus (posted by traveler , see above) the auditor is the following Kingston Accountants Prospect House St Julians avenue St Peter Port Guersney have a look at the accountants in Guersney http://www.chamber.guernsey.net/cat...=A&sortby=Address&catq=ACCOUNTANTS&detcat=yes THEY DON'T EXIST ! :eek: The legal adviser and company secretary is Cyrille Emery (according to the propectus) have a look where this fellow hangs out http://www.talkgold.com/forum/showthread.php?p=1576647#post1576647 on a Ponzi forum , in the world of HYIP's (high yield investment programs); some programs claim to make 100 %/day http://www.talkgold.com/forum/r109719-.html Who still wants to "invest" ?
....2 cents.... I think all the research here by some resourceful ET members is making it apparent that these guys are clowns, Preston. If anyone else is thinking of giving them money, you should move on and continue the search for the Holy Grail. Although they do have a nice header on their website and the picture of those guys makes it look like they're working very hard. "making 2% a month.....nothing spectacular......." is actually quite good (24% a year, i'll take it!!). Also, $1000 invested since inception (compounded, of course) would be worth $39, 516 which is pretty spectacular and uncommon.
While we're on the topic of hedgies, why don't we turn the discussion towards real hedge funds? Traveler
Traveler, May I ask you to start a new thread for that, I have more info to post regarding this "fund" so that potential investors can find all the info in one thread Thanks. *smell,smell* ..... scam !
This is exactly the kind of stuff we need to hear...I'm actually on the phone right now with the schmuck in germany who sent them 5k...showing him the comments here....he's quite shocked. Anyhow post whatever else you have...it makes me wonder how many of these fancy scams exist out there. What can we do to shut scams down or shine the light on these things? Thanks so much
My guess is that www.emerylaw.ch = www.sptrader.com emerylaw sounds like this guy makes his own laws A lawyer is the best person to set up such a thing in such a way that he runs the least amount of risk of getting busted
If any of you had any more doubts about this "fund" : SP Trade Investments Capital Ltd , registration number no. 620975 SP Trader Management Company Ltd ,registration no. 328988 both in the BVI Both the above companies are struck off the register of companies for non-payment of annual fees. That 150 million dollar "fund" has no money to pay those fees You cannot find this "fund" in any of the following listings http://www.bvifsc.vg/RegulatedEntities/MutualFundsDirectory/PublicFunds/tabid/170/Default.aspx http://www.bvifsc.vg/RegulatedEntities/MutualFundsDirectory/PrivateFunds/tabid/171/Default.aspx http://www.bvifsc.vg/RegulatedEntities/MutualFundsDirectory/ProfessionalFunds/tabid/172/Default.aspx My info comes from the following provider www.offshorebvi.com PONZI = SCAM
Please be warned that there is an international fraud investigation against Mark Roberts of SP Trader. The international branch of the FBI, FINMA (Swiss version of SEC), Interpol, BVI and the Austrian authorities are part of the investigation. One Swiss bank account is frozen. BEWARE of an investment with SPT and do your due diligence.