Daily Archives: January 29, 2010

Barbados Corporation implicated in US$200 million Ponzi scheme. How will our government deal with David Krywenky?

Kingz Capital Management Corp. Barbados – Hundreds of Millions vanish

According to the Star Tribune of Minneapolis USA, Kingz Capital Management Corp. is a registered commodities trading adviser and commodities pool operator in Barbados. A simple Google search reveals numerous articles talking about Kingz involvement in several “gone wrong” investment schemes that took in hundreds of millions of dollars – that apparently vanished.

At Barbados Free Press our questions are: 1/ What is Barbados going to do about it? 2/ What laws does Barbados have at its disposal to prevent or to deal after the fact with occurrences like this?

Here are a few stories of the many online…

Trevor Cook’s ally won’t be trading for 3 years

By Dan Browning, Star Tribune, Minneapolis

Jan. 28–A Canadian-based commodities trader affiliated with embattled Minneapolis money manager Trevor Cook has agreed to give up his trading rights for three years in response to a complaint that accused him of letting Cook — who is not a registered trader — take control of an offshore currency investment pool.

The trader, David Krywenky of Toronto, has run Kingz Capital Management Corp., a registered commodities trading adviser and commodities pool operator in Barbados, for two years. The National Futures Association (NFA), a self-regulatory body that oversees the futures markets, filed a complaint against Krywenky and Kingz Capital in September accusing them of failing to uphold ethical standards, cheating customers, and failure to supervise business activities properly…

… continue reading the full story at American Chronicle’s article Trevor Cook’s ally won’t be trading for 3 years

Click image for Patrick Pretty's take on this story

$300 million Oxford trail leads into Canada

By DAN BROWNING, Star Tribune
November 4, 2009

Investors looking to recover their money from a suspect currency investment program have a new, $300 million trail to follow into Canada.

Regulators are quietly pursuing a complaint against a Toronto commodities firm and one of its executives, alleging they helped Minneapolis money manager Trevor Cook facilitate the currency trading program.

The $300 million that passed through the Toronto firm — KINGZ Capital Management Corp. — is the largest chunk of money found so far in the still-unfolding case, which drew investors from across the United States and several other countries. They have been unable to withdraw their money from what many were told was a Swiss-based currency trader since at least early July.

continue reading this story at the Star Tribune.com article $300 million Oxford trail leads into Canada

Further Reading

PatrickPretty.com – KA-BOOM! Offshore Firm To Which AdViewGlobal Claimed Wire Tie Booted From National Futures Association After Investigators Discover Ponzi Figure Trevor Cook Was Managing Its Investor Pool

Thanks to BFP readers A & R for tipping us to the story!

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Filed under Barbados, Business & Banking, Consumer Issues, Crime & Law, Offshore Investments