1st school of Sharks ASSET MANAGERS
My “Asset Manager” in Toronto, Newport Partners, a supp. very reputable company assured me for years that I should be offshore to get the best protection. I wanted discretion and I was told that the BARBADOS MODEL was the one giving the most discretion for my capital and return
Their motto was: Our offshore business is discreet and our clients enjoy this discretion and we make it our business to make sure they are credit proof.
They supp. create Trusts offshore in order to protect their clients from all kinds of problems, from creditors, Revenue Canada (This was not my concern because I had been non resident in Canada for years and consequently Canadian taxes wouldn’t apply to me) and other unwelcome people who might endanger their fortunes.
The Diamond Trust they “created” for me was in the Barbados, a so called "tax haven".
Being inexperienced in financial matters I was seeking expert advise to manage my money and I believed their story. I could not have made a more disastrous decision and mistake. When Robert Campeau, my former husband, obtained a judgement against me by lies and perjury in the Canadian courts they found information in my banking statements (that were released by my Bank) which led to my financial advisors.
A motion was brought to disclose all my private financial information and correspondence I had had with this “Asset Management Company” and the man I had been dealing with did not try for one minute to protect my interests.
On the contrary, he refused to later on disclose to me what documentation he had given to the lawyer of R. Campeau and I had to bring a motion in court to finally get the documentation that was mine. This cost me a lot of money and took almost one year.
The Trust this company had set up for me cost a lot of money to start out with, just for the paperwork. I was also advised to create another Trust (The EMERALD Trust”) which again cost money to set up, to come into effect after my death. I even made a will with these people.
I was advised in Europe later on, that the EMERALD Trust (a "basket") virtually put my children into a totally powerless position because my “Asset manager”, in other words, Douglas Brown, my account officer with this company, had put himself, personally, as an irremovable protector, which gave him the power to do with my estate as he saw fit after my death without my children having any say in the matter.
Of course, that was not explained to me in the beginning and I had certainly made it clear as to what I wanted.
When Robert Campeau started suing me (over 3 years ago) I asked VERY SPECIFICALLY if there was any danger that he could get at my money, being held in a Trust in Barbados. I was told, by Douglas Brown, that that was most unlikely and if he tried it would be very costly and take years for him to even get information. Fortunately my advisers in Europe told me to remove the money from the Barbados because the whole set up was a sham: How can a company situated in Toronto speak about offshore investments and Trusts in which these investments are “sheltered” if they manage it in Canada, direct the money transfers from Toronto and keep all the documentation in their Canadian Office.??????
When a Canadian court asked for these documents, which were supposedly in a Trust in Barbados, they were released through a Canadian entity, namely the company that had told me my money was safely in Barbados and the banks there did not disclose information lightly.
I will disclose more pertinent information about the practises of this company as I am going through some of my investment portfolios and other relevant documentation pertaining to this matter.
I am hoping to call other people's attention to companies like this who take advantage of inexperienced clients, making a lot of money doing this, and doing a lot of damage to people who believe their lies.
see Exhibits : a fax from Bayshore Bank & Trust , Barbados to Bear Sterns. This, and other similar documents, should never have been kept in Toronto, but in Barbados as they supposedly were according to my asset manager.
as said : more to follow