The Nevis Financial Services Regulation and
Supervision Department has suspended the license for Guardian Trust Company
Limited (which has a sister company in Hong Kong) to act as Registered Agent
for Trusts, Limited Liability Companies (LLCs) and International Business
Corporations (IBCs) in or from within Nevis and has warned the public against
doing business with the company.
The reasons for the suspension have not been
made public, but Offshore Alert has been exposing the trust company’s criminal connections
for 11 years, and the firm has been embroiled in tax fraud investigations in
the US for some time. The reaction of
the Nevis authorities can hardly be said to have been swift, but at least they
have finally taken action.
The Nevis based Guardian Trust Company is not
believed to be connected to various other trust companies in other
jurisdictions (including Jersey, New Zealand, Switzerland and BVI) which have
the misfortune to share its name.
Perhaps time to consider rebranding.
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