Liquidators on trail of fugitive for missing $4M

| 16/08/2016 | 8 Comments
CNS Business

Ryan Bateman

(CNS Business): Joint liquidators trying to untangle the affairs of Ryan Bateman and the group of Cayman-registered companies he once owned and managed have filed another winding up petition and are on the fugitive’s trail for some $4 million of investors cash and assets that has gone astray from Bateman & Company. The Canadian national absconded from the Cayman Islands when he was on bail in connection with charges for domestic assault in 2014. But for the last two years, even though his whereabouts were unknown to the local authorities, he continued to run the investment firms and remained at the centre of controversial allegations regarding financial fraud.

In the latest development relating to the companies he was involved with, Chris Johnson and Graham Robinson, who are already the liquidators on B & C Capital Ltd, where more than $1.69 million is missing, are petitioning for Bateman & Co to be wound up.

Johnson and Robinson have also been appointed liquidators for that company so they can pursue the even bigger sum that has gone missing, which was once held by B & C Capital.

According to the petition filed in the courts earlier this month, the Cayman Islands-registered company once owned by Bateman now has no management team or directors, and the $4 million of creditors cash and assets has disappeared.

The liquidators said that they have not been able to “determine exactly what cash, securities or other assets were transferred” to the firm, but at one time it was holding cash amounting to at least $2,381,029.63 and securities to the value of at least $2,456,753.22 on behalf of the customers of B & C Capital Ltd, which Johnson and Robinson are attempting to track down.

Bateman’s director registration was cancelled by CIMA last month when the regulator said he had been carrying out his business affairs in a “manner detrimental to the public interest” and suggested he was not a “fit and proper person” to be a registered director.

According to the petition, the hearing to wind up the latest entity in Bateman’s one time stable of investment firms will be held in the Grand Court next month.

Winding up Petition Bateman and Co (10 August 2016) for hearing 29 Sept 2016

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Category: Finance, Financial Crime

Comments (8)

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  1. Anonymous says:

    Bateman a good Mon. Real good Mon.

  2. Anonymous says:

    Bateman was able to list and sell his house after he obsconded as a fugative, and then presumably received a wire payment for the proceeds from a local realtor.

    • Anonymous says:

      Well, well, well…Did he has absolute title (no liens/debt) on the property? Or, Was it bank foreclosed? The latter may likely be the case. Otherwise, a seize property order was to be issued, with forfeiture proceedings to follow, at the appropriate time.

      It might be worth mentioning, that Bateman arranged shipment of his furniture & other personal belongings to Florida, ahead of him absconding; thus, leaving an empty home and a couple of luxury vehicles.

      I just hope that he doesn’t stand to gain, or continue to thrive, from his past alleged criminal activities, and clever tactics to secret his ill-gotten gains!

    • Anonymous says:

      This is not true Bateman is a model citizen like Sir AS. We love him best investor you will ever find.

  3. Anonymous says:

    What a mess! ?

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