The Oceania Times

Top Menu

  • About us
  • Contact Us
  • Cookie Policy
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions

Main Menu

  • Australian Economy
  • Brokers
  • Commodities
  • Currencies
  • Financial Market
  • Gold and Precious Metals
  • Investment
  • Stock Shares
  • About us
  • Contact Us
  • Cookie Policy
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions

logo

The Oceania Times

  • Australian Economy
  • Brokers
  • Commodities
  • Currencies
  • Financial Market
  • Gold and Precious Metals
  • Investment
  • Stock Shares
  • Fiona Darmon leaving JVP to set up new investment fund

  • stock market news: LTI Mindtree, Siemens among 4 stocks to trade ex-dividend on Monday

  • Is IAG the FTSE 100’s best cheap dividend stock?

  • MINISO Group Announces Management and Board Changes

  • Kinross: Valuation Now More In Line With Peers (TSX:K:CA)

Investment
Home›Investment›Two directors of Brazil teak investment firm convicted in London

Two directors of Brazil teak investment firm convicted in London

By Megan
May 31, 2022
55
0
Share:

LONDON, May 31 (Reuters) – Two company directors behind a fraudulent green investment scheme in Brazil were convicted on Tuesday by a London jury of defrauding about 2,000 investors out of around 37 million pounds ($47 million).

Andrew Skeene and Omari Bowers were found guilty of three counts of conspiracy to defraud and one count of misconduct in the course of winding up a company at London’s Southwark Crown Court, the UK Serious Fraud Office (SFO) said.

The men will be sentenced on Wednesday.

Register now for FREE unlimited access to Reuters.com

Timur Rustem, managing partner at law firm Rustem Guardian who is representing Skeene, said he was disappointed with the verdict and that his client was considering an appeal. A lawyer for Bowers was not immediately available for comment.

The two men had presented Global Forestry Investments, which established three Brazilian teak tree investment schemes known as Belem Sky Plantation, Para Sky Plantation and Para Grosso Sky Plantation, as a secure, ethical investment scheme that would protect the Amazon rainforest and support local communities.

But SFO Director Lisa Osofsky said a seven-year investigation exposed an intricate web of money transfers, forged documents and invented identities used to “scam pensioners and savers out of their money under the false pretence of environmental protection”.

The SFO, which said its team had travelled to Brazil twice during the investigation, thanked Brazil’s Federal Prosecution Office, among other agencies, for its extensive help.

Bowers and Skeene said on their LinkedIn page that they co-founded Global Forestry Investments about 15 years ago, buying land in Brazil for the “sustainable planting and harvesting of teak trees for investment purposes”.

The company had offices in Sao Paulo, Brazil, London, Dubai and Abu Dhabi, according to LinkedIn.

($1 = 0.7948 pounds)

Register now for FREE unlimited access to Reuters.com

Reporting by Kirstin Ridley;
Editing by Sandra Maler

Our Standards: The Thomson Reuters Trust Principles.

Source link

TagsAMERSAPREBACTBISVBISV08BMATBMAT08BRCLJCORGOVCRIMEMRGENVesgESGGOVEUROPFINFINSFINS08FRAUD1FUNDGBGENINVBISINVMINVS08JUDICLATAMlegalMNGISSPVEPVE08REGSREUTERS-LEGALSAMERSCAM1TREEUKWEUWOOD
Previous Article

Hirokazu Kore-eda’s Broker is a Drama of ...

Next Article

GDP slowdown in Q4 due to impact ...

0
Shares
  • 0
  • +
  • 0
  • 0
  • 0
  • 0

Megan

Related articles More from author

  • Financial Market

    U.S. SEC chief unveils plan to overhaul Wall Street stock trading

    June 8, 2022
    By Megan
  • Commodities

    Column: Commodity forecasts are absurd, but China is key as Ukraine fades: Russell

    December 20, 2022
    By Megan
  • Currencies

    U.S. dollar down, still on track for biggest annual gain since 2015

    December 30, 2022
    By Megan
  • Financial Market

    Goldman Sachs dealmakers see M&A recovery in second half of 2023

    January 4, 2023
    By Megan
  • Financial Market

    AIG exceeds profit estimates on strong underwriting gains

    August 8, 2022
    By Megan
  • Stock Shares

    Stocks firm ahead of rate meetings, crude hits $120

    June 6, 2022
    By Megan

Leave a reply Cancel reply

You may interested

  • Brokers

    Massachusetts RE/MAX Affiliate Has New Broker/Owner — RISMedia

  • Brokers

    Top brokers name 3 ASX shares to buy today 29 June 2022

  • Investment

    Down markets impact Illinois’ investment returns for poorly funded public pensions |

  • LATEST REVIEWS

  • TOP REVIEWS

Timeline

  • January 29, 2023

    Fiona Darmon leaving JVP to set up new investment fund

  • January 29, 2023

    stock market news: LTI Mindtree, Siemens among 4 stocks to trade ex-dividend on Monday

  • January 29, 2023

    Is IAG the FTSE 100’s best cheap dividend stock?

  • January 29, 2023

    MINISO Group Announces Management and Board Changes

  • January 29, 2023

    Kinross: Valuation Now More In Line With Peers (TSX:K:CA)

Best Reviews

Latest News

Investment

Fiona Darmon leaving JVP to set up new investment fund

Fiona Darmon, one of the most notable women in the Israeli venture capital industry, is leaving the JVP fund to start an independent venture. Darmon served as a partner in ...
  • stock market news: LTI Mindtree, Siemens among 4 stocks to trade ex-dividend on Monday

    By Megan
    January 29, 2023
  • Is IAG the FTSE 100’s best cheap dividend stock?

    By Megan
    January 29, 2023
  • MINISO Group Announces Management and Board Changes

    By Megan
    January 29, 2023
  • Kinross: Valuation Now More In Line With Peers (TSX:K:CA)

    By Megan
    January 29, 2023
  • Recent

  • Popular

  • Comments

  • Fiona Darmon leaving JVP to set up new investment fund

    By Megan
    January 29, 2023
  • stock market news: LTI Mindtree, Siemens among 4 stocks to trade ex-dividend on Monday

    By Megan
    January 29, 2023
  • Is IAG the FTSE 100’s best cheap dividend stock?

    By Megan
    January 29, 2023
  • MINISO Group Announces Management and Board Changes

    By Megan
    January 29, 2023
  • Fiona Darmon leaving JVP to set up new investment fund

    By Megan
    January 29, 2023
  • Australia’s economy: boom or bust?

    By Megan
    September 9, 2019
  • Australian economy suffers virus symptoms

    By Megan
    February 10, 2020
  • Australian economy likely already slowing in Q2 before Delta downturn

    By Megan
    August 30, 2021

Trending News

  • Investment

    Fiona Darmon leaving JVP to set up new investment fund

    Fiona Darmon, one of the most notable women in the Israeli venture capital industry, is leaving the JVP fund to start an independent venture. Darmon served as a partner in ...
  • Stock Shares

    stock market news: LTI Mindtree, Siemens among 4 stocks to trade ex-dividend on Monday

    Shares of LTI Mindtree, , 360 One Wam and will trade ex-dividend on Monday. While announcing its earnings for the third quarter of December 2022, LTIMindtree’s board also approved an ...
  • Stock Shares

    Is IAG the FTSE 100’s best cheap dividend stock?

    Image source: Getty Images The International Consolidated Airlines Group (LSE:IAG) share price looks ultra cheap. It’s so cheap, in fact, that a case could be made that it’s the FTSE ...
  • Financial Market

    MINISO Group Announces Management and Board Changes

    GUANGZHOU, China, Jan. 29, 2023 /PRNewswire/ — MINISO Group Holding Limited (NYSE: MNSO; HKEx: 9896) (“MINISO,” “MINISO Group” or the “Company”), a global value retailer offering a variety of design-led ...
  • Gold and Precious Metals

    Kinross: Valuation Now More In Line With Peers (TSX:K:CA)

    mikulas1 Investment Thesis Kinross Gold (NYSE:KGC) was very out of favor during 2022 following the divestment of the Russian assets for relatively little money and a couple of quarters with ...
  • About us
  • Contact Us
  • Cookie Policy
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© Copyright The Oceania Times. All rights reserved.

SUBSCRIBE TO OUR NEWSLETTER

Get our latest downloads and information first. Complete the form below to subscribe to our weekly newsletter.