Cliff Wilkins

OffshoreAlert has come across a $10 million note offering in which The FN Group, formerly known as the First Nevisian Group, acts as the arranger, dealer and registrar and controls the two guarantors.We understand that the group has used its discretionary investment authority to put some of its clients' funds in the offering, which has led to at least one complaint.The issuer is Nevis-registered Global Power Supplies Inc., whose notes range from 30 days to three years and bear interest of 9 to 10 per cent per year.

The First Nevisian stockbroking and corporate services group, which is now known as The FN Group, has opened an office in the Dominican Republic, where it plans to relocate much of its business from Nevis.And the official line is still that Keith King "retired" from the group two years ago, even though he is listed as the administrative contact for its new Internet domain name of 'thefngroup.com', which was only created 12 months ago on June 20, 2000.

Judgment in Mannin Foundation v. City and International Securities Limited and Edenbridge Investments Limited v. Sunil Pabari at the Isle of Man High Court.

The Mannin Foundation vs. City & International Securities Limited - Plaintiff's Closing Submissions - Isle of Man High Court of Justice - July 13, 2000

Readers who are considering doing business with the First Nevisian stock-broking and corporate services group in Nevis might like to know there is a warrant out in South Africa for the arrest of its key principal, Keith Leslie King. They may also be interested to learn that he set up a firm in Nevis after being kicked out of the Isle of Man, where his company, City & International Securities, also recently lost a £45,000 ($72,000) lawsuit brought by a former client. A second lawsuit against City & International Securities and King personally is due to be tried soon in the Isle of Man.