Researching Palm Beach

Researching Palm Beach

Palm Beach Capital – Bluecrest - Stewardship – Goldman Sachs – Gottex - Incline Village - Jupiter Florida - Bermuda - Cayman Islands - Bruce Prevost – Larry Reynolds – Frank Vennes – Tom Petters – Paul Traub – David Harrold – Steve Cammack – Finova – Links Capital – Palm Beach Links Capital – PBL – Capital

Thus far Stewardship, Bluecrest and Gottex seem to be the clean guys, who invested in the funds of PBL, PB etc and got burnt – following their investigations and litigations is leading to discovery of additional items including Incline Village Nevada and Larry Reynold items not previously known.

Manchester litigation against Palm Beach (there are many – Many – Palm Beach entities (see below for partial listing)

http://www.reuters.com/article/pressRelease/idUS15683+02-Feb-2008+PRN20080202

Incorporated in Guernsey, Gottex provides investment management services to a diversified range of hedge funds and funds of hedge funds. The Gottex group also structures and manages specialised fund of hedge funds, managed accounts, real asset funds and provides related investment advisory services. As of 30 September 2008, Gottex had $13.5 billion in assets under management (AUM).

Palm Beach local news gets the gist of the National Petters and other schemes related stories as Gottex comments

http://www.palmbeachdailynews.com/soc/content/society/2008/10/04/sdcol1005.html

Gottex sued Stewardship prior to the Petters arrest

What did they know that many others did not about schemes and dinging fees

http://www.finalternatives.com/node/4926

BLOOMBERG reports on Gottex, Acorn, Stewardship and Interlachen Funds quagmire

http://www.bloomberg.com/apps/news?pid=20601127&sid=azhYoqQobTXw

Previous disclosure statement of PBL

Formed in 2000, Palm Beach Capital Management, along with its affiliate PBL Capital, specializes in asset based lending, purchase order finance and senior life settlement transactions. The Group has $1.6 billion in AUM across five domestic and four offshore hedge funds, with 32 employees in Florida, Texas and New York. The Managing Directors are Scott Olson, Bruce Prévost, David Harrold, Tom Gervais, and Steve Cammack. Our Flagship fund provides secured short term financing of new, in the box, pre-sold brand name products to Investment grade retailers affording the fund a consistent rate of return.
Our Multi-Strategy fund invests in primarily three strategies:
Lending: Asset-based and cash flow commercial lending through the origination of senior, subordinate and mezzanine financings
Life Settlements: Purchasing life settlements with respect to non-contestable senior life insurance policies, as well as carrier approved recourse premium finance loans
Whole Loan: Purchase of consumer and commercial financial assets

It has since been learned that PBL Capital has relationships with Bill Cawley www.cawley.com

Rumor has it that Cawley owns items and has Real Estate dealings with PBL Capital where profits/fee churning occurs that is not exactly totally candid disclosure. The big issues being possible as anyone can see by the PBL website http://www.pblcapital.com/team.html that Steve Cammack has failed to disclose the issue that he was with Finova

This provides a key link to this sophisticated group as eToys filed Bankruptcy in DE by the Morris Nichols Arsht & Tunnel (MNAT) law firm becoming case number 01-706

Also filed at the same time was Finova Bankruptcy case number 01-705

eToys has many issues of non-disclosure of conflicts of interest, including the Fact that MNAT and Traub never reported their affiliations with Bain, Goldman Sachs, Fleet Bank and Wells Fargo (many of hundreds of millions of dollars of illegal preferential issues are hidden by the non-disclosures)

There is much emphasis being placed on the issue, that similar to Paul Traub’s connections to Petters vanishing, so is Bruce Prevost and David Harrold’s affiliation with PBL Capital and others

Florida Limited Liability Company
PALM BEACH CAPITAL MANAGEMENT, LLC
Filing Information -
Document Number / L00000016310
FEI Number / 651064796
Date Filed / 12/26/2000
State / FL
Status / ACTIVE
3601 PGA BLVD
SUITE 301
PALM BEACH GARDENS FL 33410
Changed 07/05/2006
Registered Agent Name & Address
HARROLD, DAVID W
3601 PGA BLVD
SUITE 301
PALM BEACH GARDENS FL 33410 US
Address Changed: 07/05/2006
Manager/Member Detail
Name & Address
Title MGRM
HARROLD, DAVID W
3601 PGA BLVD STE 301
PALM BEACH GARDENS FL 33410
Title MGRM
PREVOST, BRUCE F
3601 PGA BLVD STE 301
PALM BEACH GARDENS FL 33410
Annual Reports
Report Year / Filed Date
2007 / 01/16/2007
2008 / 03/17/2008
2009 / 01/07/2009
Palm Beach Capital Management Registered names in the State of Florida.
PALM BEACH CAPITAL CORPORATION / 354144 / INACT
PALM BEACH CAPITAL, INC. / P04000108341 / ACT
PALM BEACH CAPITAL "LLC" / L05000073344 / INACT
PALM BEACH CAPITAL LLC / L07000028444 / ACT
PALM BEACH CAPITAL ADVISORS, LLC / L01000013040 / INACT/UA
PALM BEACH CAPITAL ALLIANCE, LLC / L04000032047 / INACT
PALM BEACH CAPITAL ASSOCIATES, LLC / L01000000461 / ACT
PALM BEACH CAPITAL CONSULTANTS LLC / L03000049742 / ACT
PALM BEACH CAPITAL FINANCING ADVISORS INCORPORATED / P06000142439 / ACT
PALM BEACH CAPITAL FUND I, L.P. / B03000000127 / ACT
PALM BEACH CAPITAL FUND II, L.P. / B05000000406 / ACT
PALM BEACH CAPITAL FUNDING, INC. / L74751 / ACT
PALM BEACH CAPITAL GP I, LLC / M03000001090 / ACT
PALM BEACH CAPITAL GP II, LLC / M05000005174 / ACT
PALM BEACH CAPITAL GROUP INC. / P03000013384 / INACT
PALM BEACH CAPITAL GROUP, INC. / P95000038312 / INACT
PALM BEACH CAPITAL HOLDINGS, INC. / P95000083128 / INACT
PALM BEACH CAPITAL HOLDINGS, INC. / P98000086979 / INACT
PALM BEACH CAPITAL INVESTMENT GROUP, LLC / L05000104949 / INACT/UA
PALM BEACH CAPITAL INVESTMENTS, LLC / L04000086377 / ACT
PALM BEACH CAPITAL MANAGEMENT, LTD. / A24767 / INACT
PALM BEACH CAPITAL MANAGEMENT INCORPORATED / G65743 / NAME HS
PALM BEACH CAPITAL MANAGEMENT, INC. / M53557 / INACT
PALM BEACH CAPITAL MANAGEMENT, LLC / L00000016310 / ACT

Item comment found on Forbes Story about the issues including Lancelot

Colossus Exposure

The Ellerbrock Trust, which began investing in Lancelot in November 2003, is seeking more than $5 million in damages from McGladrey & Pullen. The trust wants to represent all investors who became limited partners in Lancelot and Colossus Capital Fund LP from their inception. Bell said Sept. 28 that about 15 percent of assets in Colossus, a fund he started in 2005, were ``exposed'' to Petters, lawyers for Ellerbrock said in the complaint.

Lancelot and Colossus had assets of $238.4 million and $55.8 million, respectively, at the end of 2007, according to the complaint.

Investors who have about $30 million invested in Palm Beach Finance Holdings Inc., another hedge fund that invested in the Petters scheme, have hired Sadis & Goldberg to investigate whether the fund has engaged in any wrongdoing, saidDoug Hirsch, a partner at the New York-based law firm.

Bruce Prevost and David Harrold, principles of Palm Beach Finance, which is based in Incline Village, Nevada, didn't return calls seeking comment.

Palm Beach managed $1.6 billion according to a May 2008 report sent to investors. A Palm Beach client, who asked not to be identified because the fund is private, estimates that the firm had lent $1.1 billion to Petters.

The Palm Beach Finance Partners LP averaged returns of about 1 percent a month since 2003 with no down months, according to the investor report.

Larry Reynolds items in Nevada not yet discussed

Officer Name / Officer Type / Entity Name
LARRY REYNOLDS / Managing Member / NORTH AMERICAN HOTEL AND FOOD SERVICE CORP, LLC
LARRY REYNOLDS / President / NATIONWIDE-GIG INC.
LARRY REYNOLDS / Secretary / NATIONWIDE-GIG INC.
LARRY REYNOLDS / Treasurer / NATIONWIDE-GIG INC.

Separate item for investigation

Filing Number: / 800688224 / Entity Type: / Domestic Limited Partnership (LP)
Original Date of Filing: / August 1, 2006 / Entity Status: / In existence
Formation Date: / N/A
Tax ID: / 32035139123 / FEIN:
Duration: / Perpetual
Name: / Links Business Capital, LP
Address: / 6414 Deloache Avenue
Dallas, TX 75225 USA
REGISTERED AGENT / FILING HISTORY / NAMES / MANAGEMENT / ASSUMED NAMES / ASSOCIATED ENTITIES
Assumed Name / Date of Filing / Expiration Date / Inactive Date / Name Status / Counties
PBL Capital / November 1, 2007 / November 1, 2017