Russell Chang

The Cayman Islands Monetary Authority has cancelled the mutual fund license of Obelisk Global Fund SPC, citing insolvency, mismanagement, and legal breaches. The regulator determined that the Fund's principals, Winfield Sifton, Matthew Ho, and Jazeb Jones, were "not fit and proper persons".

Alleging "serious wrongdoing", two creditors claiming to be owed $448,333 under a loan bearing interest at 10% per month have applied to wind up Cayman Islands-based Obelisk Capital Management Ltd., which manages factoring and gold funds for Obelisk Global, whose directors include Jazeb Jones, who was previously dismissed as MD of a Cayman bank over his relationship with a client accused of committing a £50 million fraud.

Winding Up Petition in Aleksandar Pausak and Suzanne Symonds v. Obelisk Capital Management Limited at the Grand Court of the Cayman Islands.

News Release by Guernsey Financial Services Commission announcing the appointment of Administration Managers for Providence Investment Funds PCC Limited and its manager, Providence Investment Management International Limited.