Petters Fraud
Researching Palm Beach
Palm Beach Capital – Bluecrest - Stewardship – Goldman Sachs – Gottex - Incline Village - Jupiter Florida - Bermuda - Cayman Islands - Bruce Prevost – Larry Reynolds – Frank Vennes – Tom Petters – Paul Traub – David Harrold – Steve Cammack – Finova – Links Capital – Palm Beach Links Capital – PBL – Capital
Thus far Stewardship, Bluecrest and Gottex seem to be the clean guys, who invested in the funds of PBL, PB etc and got burnt – following their investigations and litigations is leading to discovery of additional items including Incline Village Nevada and Larry Reynold items not previously known.
Manchester litigation against Palm Beach (there are many – Many – Palm Beach entities (see below for partial listing)
Incorporated in Guernsey, Gottex provides investment management services to a diversified range of hedge funds and funds of hedge funds. The Gottex group also structures and manages specialised fund of hedge funds, managed accounts, real asset funds and provides related investment advisory services. As of 30 September 2008, Gottex had $13.5 billion in assets under management (AUM).
Palm Beach local news gets the gist of the National Petters and other schemes related stories as Gottex comments
Gottex sued Stewardship prior to the Petters arrest
What did they know that many others did not about schemes and dinging fees
BLOOMBERG reports on Gottex, Acorn, Stewardship and Interlachen Funds quagmire
Previous disclosure statement of PBL
Formed in 2000, Palm Beach Capital Management, along with its affiliate PBL Capital, specializes in asset based lending, purchase order finance and senior life settlement transactions. The Group has $1.6 billion in AUM across five domestic and four offshore hedge funds, with 32 employees in Florida, Texas and New York. The Managing Directors are Scott Olson, Bruce Prévost, David Harrold, Tom Gervais, and Steve Cammack. Our Flagship fund provides secured short term financing of new, in the box, pre-sold brand name products to Investment grade retailers affording the fund a consistent rate of return.
Our Multi-Strategy fund invests in primarily three strategies:
Lending: Asset-based and cash flow commercial lending through the origination of senior, subordinate and mezzanine financings
Life Settlements: Purchasing life settlements with respect to non-contestable senior life insurance policies, as well as carrier approved recourse premium finance loans
Whole Loan: Purchase of consumer and commercial financial assets
It has since been learned that PBL Capital has relationships with Bill Cawley
Rumor has it that Cawley owns items and has Real Estate dealings with PBL Capital where profits/fee churning occurs that is not exactly totally candid disclosure. The big issues being possible as anyone can see by the PBL website that Steve Cammack has failed to disclose the issue that he was with Finova
This provides a key link to this sophisticated group as eToys filed Bankruptcy in DE by the Morris Nichols Arsht & Tunnel (MNAT) law firm becoming case number 01-706
Also filed at the same time was Finova Bankruptcy case number 01-705
eToys has many issues of non-disclosure of conflicts of interest, including the Fact that MNAT and Traub never reported their affiliations with Bain, Goldman Sachs, Fleet Bank and Wells Fargo (many of hundreds of millions of dollars of illegal preferential issues are hidden by the non-disclosures)
There is much emphasis being placed on the issue, that similar to Paul Traub’s connections to Petters vanishing, so is Bruce Prevost and David Harrold’s affiliation with PBL Capital and others
|Florida Limited Liability Company | |
|PALM BEACH CAPITAL MANAGEMENT, LLC | |
|Filing Information - | |
|Document Number | |
|L00000016310 | |
| | |
|FEI Number | |
|651064796 | |
| | |
|Date Filed | |
|12/26/2000 | |
| | |
|State | |
|FL | |
| | |
|Status | |
|ACTIVE | |
| | |
|3601 PGA BLVD |
|SUITE 301 |
|PALM BEACH GARDENS FL 33410 |
|Changed 07/05/2006 |
|Registered Agent Name & Address |
|HARROLD, DAVID W |
|3601 PGA BLVD |
|SUITE 301 |
|PALM BEACH GARDENS FL 33410 US |
|Address Changed: 07/05/2006 |
|Manager/Member Detail |
|Name & Address |
|Title MGRM |
|HARROLD, DAVID W |
|3601 PGA BLVD STE 301 |
|PALM BEACH GARDENS FL 33410 |
|Title MGRM |
|PREVOST, BRUCE F |
|3601 PGA BLVD STE 301 |
|PALM BEACH GARDENS FL 33410 |
|Annual Reports |
|Report Year |
|Filed Date |
| |
|2007 |
|01/16/2007 |
| |
|2008 |
|03/17/2008 |
| |
|2009 |
|01/07/2009 |
| |
| |
| |
|Palm Beach Capital Management Registered names in the State of Florida. |
|PALM BEACH CAPITAL CORPORATION |
|354144 |
|INACT |
| |
| |
| |
| |
| |
|PALM BEACH CAPITAL, INC. |
|P04000108341 |
|ACT |
| |
| |
| |
| |
| |
|PALM BEACH CAPITAL "LLC" |
|L05000073344 |
|INACT |
| |
| |
| |
| |
| |
|PALM BEACH CAPITAL LLC |
|L07000028444 |
|ACT |
| |
| |
| |
| |
| |
|PALM BEACH CAPITAL ADVISORS, LLC |
|L01000013040 |
|INACT/UA |
| |
| |
| |
| |
| |
|PALM BEACH CAPITAL ALLIANCE, LLC |
|L04000032047 |
|INACT |
| |
| |
| |
| |
| |
|PALM BEACH CAPITAL ASSOCIATES, LLC |
|L01000000461 |
|ACT |
| |
| |
| |
| |
| |
|PALM BEACH CAPITAL CONSULTANTS LLC |
|L03000049742 |
|ACT |
| |
| |
| |
| |
| |
|PALM BEACH CAPITAL FINANCING ADVISORS INCORPORATED |
|P06000142439 |
|ACT |
| |
| |
| |
| |
| |
|PALM BEACH CAPITAL FUND I, L.P. |
|B03000000127 |
|ACT |
| |
| |
| |
| |
| |
|PALM BEACH CAPITAL FUND II, L.P. |
|B05000000406 |
|ACT |
| |
| |
| |
| |
| |
|PALM BEACH CAPITAL FUNDING, INC. |
|L74751 |
|ACT |
| |
| |
| |
| |
| |
|PALM BEACH CAPITAL GP I, LLC |
|M03000001090 |
|ACT |
| |
| |
| |
| |
| |
|PALM BEACH CAPITAL GP II, LLC |
|M05000005174 |
|ACT |
| |
| |
| |
| |
| |
|PALM BEACH CAPITAL GROUP INC. |
|P03000013384 |
|INACT |
| |
| |
| |
| |
| |
|PALM BEACH CAPITAL GROUP, INC. |
|P95000038312 |
|INACT |
| |
| |
| |
| |
| |
|PALM BEACH CAPITAL HOLDINGS, INC. |
|P95000083128 |
|INACT |
| |
| |
| |
| |
| |
|PALM BEACH CAPITAL HOLDINGS, INC. |
|P98000086979 |
|INACT |
| |
| |
| |
| |
| |
|PALM BEACH CAPITAL INVESTMENT GROUP, LLC |
|L05000104949 |
|INACT/UA |
| |
| |
| |
| |
| |
|PALM BEACH CAPITAL INVESTMENTS, LLC |
|L04000086377 |
|ACT |
| |
| |
| |
| |
| |
|PALM BEACH CAPITAL MANAGEMENT, LTD. |
|A24767 |
|INACT |
| |
| |
| |
| |
| |
|PALM BEACH CAPITAL MANAGEMENT INCORPORATED |
|G65743 |
|NAME HS |
| |
| |
| |
| |
| |
|PALM BEACH CAPITAL MANAGEMENT, INC. |
|M53557 |
|INACT |
| |
| |
| |
| |
| |
|PALM BEACH CAPITAL MANAGEMENT, LLC |
|L00000016310 |
|ACT |
| |
| |
| |
| |
| |
| |
Item comment found on Forbes Story about the issues including Lancelot
Colossus Exposure
The Ellerbrock Trust, which began investing in Lancelot in November 2003, is seeking more than $5 million in damages from McGladrey & Pullen. The trust wants to represent all investors who became limited partners in Lancelot and Colossus Capital Fund LP from their inception. Bell said Sept. 28 that about 15 percent of assets in Colossus, a fund he started in 2005, were ``exposed'' to Petters, lawyers for Ellerbrock said in the complaint.
Lancelot and Colossus had assets of $238.4 million and $55.8 million, respectively, at the end of 2007, according to the complaint.
Investors who have about $30 million invested in Palm Beach Finance Holdings Inc., another hedge fund that invested in the Petters scheme, have hired Sadis & Goldberg to investigate whether the fund has engaged in any wrongdoing, saidDoug Hirsch, a partner at the New York-based law firm.
Bruce Prevost and David Harrold, principles of Palm Beach Finance, which is based in Incline Village, Nevada, didn't return calls seeking comment.
Palm Beach managed $1.6 billion according to a May 2008 report sent to investors. A Palm Beach client, who asked not to be identified because the fund is private, estimates that the firm had lent $1.1 billion to Petters.
The Palm Beach Finance Partners LP averaged returns of about 1 percent a month since 2003 with no down months, according to the investor report.
Larry Reynolds items in Nevada not yet discussed
| Officer Name |
| Officer Type |
| Entity Name |
| |
|LARRY REYNOLDS |
|Managing Member |
|NORTH AMERICAN HOTEL AND FOOD SERVICE CORP, LLC |
| |
|LARRY REYNOLDS |
|President |
|NATIONWIDE-GIG INC. |
| |
|LARRY REYNOLDS |
|Secretary |
|NATIONWIDE-GIG INC. |
| |
|LARRY REYNOLDS |
|Treasurer |
|NATIONWIDE-GIG INC. |
| |
| |
| |
| |
| |
Separate item for investigation
|Filing Number: |
|800688224 |
|Entity Type: |
|Domestic Limited Partnership (LP) |
| |
|Original Date of Filing: |
|August 1, 2006 |
|Entity Status: |
|In existence |
| |
|Formation Date: |
|N/A |
| |
| |
| |
|Tax ID: |
|32035139123 |
|FEIN: |
| |
| |
|Duration: |
|Perpetual |
| |
| |
| |
|Name: |
|Links Business Capital, LP |
| |
|Address: |
|6414 Deloache Avenue |
|Dallas, TX 75225 USA |
| |
|REGISTERED AGENT |
|FILING HISTORY |
|NAMES |
|MANAGEMENT |
|ASSUMED NAMES |
|ASSOCIATED ENTITIES |
| |
| |
| |
|Assumed Name |
|Date of Filing |
|Expiration Date |
|Inactive Date |
|Name Status |
|Counties |
| |
|PBL Capital |
|November 1, 2007 |
|November 1, 2017 |
| |
| |
| |
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