HONGKONG investors who used a broker currently facing fraud charges in the United Kingdom have been urged to contact the British authorities urgently.
Britain's Securities and Investments Board (SIB) fear investors may have lost millions of dollars through schemes set up by Ian Lloyd-Wright, who used to have an office in Admiralty and who channelled a significant part of his legitimate multi-million dollar expatriate insurance business through Eagle Star in Hongkong.
Lloyd-Wright is facing contempt of court and ''almost certain'' fraud charges in Britain, the SIB said, after refusing to provide the High Court in London with information on the whereabouts of at least GBP4 million (HK$46 million) of investors' money.
Lloyd-Wright has fled to South Africa and failed to turn up in court, instead sending a 28-page statement which the judge said was inadequate.
Following a request by the UK's trade secretary, the High Court has wound up Lloyd-Wright's UK company, LW Investment Corporation, banned him from doing business in Britain, and frozen the company's assets worldwide.
In his court statement Lloyd-Wright admitted trading illegally and without authorisation in Britain, but has refused to provide information on the GBP4 million as he claims it would breach his clients' confidentiality.
