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Isle of Man's Montpelier Trust in receivership after boss accused of diverting 'millions of pounds' of client funds

Amadeus

By Amadeus
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Amadeus Grand Master

Amadeus

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Published yesterday:

https://www.iomfsa.im/fsa-news/2019/oct/montpelier-trust-and-corporate-services-limited-appointment-of-receiver-manager-and-inspectors/

Montpelier (Trust and Corporate) Services Limited - appointment of receiver, manager and inspectors

Published on: 08 October 2019

Following an application by the Isle of Man Financial Services Authority (the “Authority”), the Isle of Man High Court has made the following appointments by Order dated 7 October 2019 (the “Court Order”) in respect of Montpelier (Trust and Corporate) Services Limited (“MTCSL”):

  • Mr Gordon Wilson of CW Consulting Limited, Third Floor, 15-19 Athol Street, Douglas, Isle of Man, IM1 1LB is appointed as receiver in respect of MTCSL pursuant to section 21 of the Financial Services Act 2008;
  • Mr Gordon Wilson of CW Consulting Limited, Third Floor, 15-19 Athol Street, Douglas, Isle of Man, IM1 1LB is appointed as manager in respect of MTCSL pursuant to section 22 of the Financial Services Act 2008;
  • Mr Adrian Hyde and Mr Robert Starkins of CVR Global LLP, 20 Furnival Street, London EC4A 1JQ are appointed as inspectors to investigate certain matters relating to MTCSL pursuant to section 5 of the Companies Act 1974.

The Court Order requires that a copy of the Court Order must be placed on the website of the Authority.  A copy of the Court Order is here.

The judgment of the High Court under which the Court Order was made is here.

MTCSL continues to be licensed to conduct business under Class 4 (corporate services) and Class 5 (trust services).  Details of MTCSL’s licence can be found on the Authority’s register here. 

The Authority makes this public statement under section 13(4) of the Financial Services Act 2008 on the ground that it is desirable in the public interest to do so.

 

If you have any questions regarding the effect of the Court Order, please contact infofids@iomfsa.im or your usual contact at MTCSL. If you wish to contact Gordon Wilson (the manager and receiver), please do so on gwilson@cwconsulting.im.

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gettafa Newbie

gettafa

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13 hours ago, Rushen Spy said:

Is a "good egg" the financial services equivalent of a "lovable rogue"?

Plenty of good eggs on Athol Street and beyond. And the judiciary, and the police etc.

Isle of Man is the Isle of Good Eggs.

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Barrie Stevens Newbie

Barrie Stevens

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12 hours ago, Mr Helmut Fromage said:

What a fabulous fucking surprise  - Isle of Man CSP / Payroll Company boss in high lifestyle money laundering theft scandal.

We must be into the 3rd decade of this fiasco - nothing to see here.......

Where you can.... and still keep your lifestyle - Bell, Gittings, Mellor could name many more...

I met many of the Montpelier staff etc in I think 2007 when they hired the Villa Marina for a very sumptuous and unbelievably lavish party. I mean money galore or loadsa money. If I recall aright there were some very flash gifts and prizes given away. People there from all over the world. You could smell the money. Just look at their clothes and bling. Very smart. Very rich.

I was the resident nightwatchman at the Villa back then so got around the place a lot with my keys. This may well have been their last company bash as I recall not being at all surprised when they ran into trouble. Could have been 2007 the party. Anyway, I did not like the atmosphere exuding from the people. Instinct tells you when someone is a wrong'un and I had this feeling of being with not nice not to be trusted people.

Strange to relate several of them came to my desk asking to borrow pens. Needless to say they were not returned.

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Barrie Stevens Newbie

Barrie Stevens

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13 hours ago, Mr Helmut Fromage said:

What a fabulous fucking surprise  - Isle of Man CSP / Payroll Company boss in high lifestyle money laundering theft scandal.

We must be into the 3rd decade of this fiasco - nothing to see here.......

Where you can.... and still keep your lifestyle - Bell, Gittings, Mellor could name many more...

Mellor? Now there's a name. .I used to clean that dreadful pub-club next to Jefferson's opposite the Sea Terminal. It's under the Lloyd's TSB building...Anyway, I arrived for work at 5 am one day a few years ago now and entered the yard round the back. Waiting there at that ungodly hour was a very large black car.

In that car was a very expensively dressed older man. With him were three equally expensively dressed younger men. Muscles and suits. It was like the Krays or one of those Mafia movies.

Two car doors opened and two muscle and suits came up to me. Menace exuded from their very being. "Mellor. Where's Mellor?"..."Don't know. I think he owns this place. I'm just the cleaner. Never see him"...

The muscles and suits got back in the car. The rich older man their Governor gave me a look as if to say, "Pity I have no excuse to let my goons loose on you!"..

They were still there waiting when I locked up and left two hours or so later.

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