PRESS RELEASE 2 September 2008
BELGRAVIA FINANCIAL SERVICES GROUP LIMITED - UPDATE
Whilst the Commission’s investigation under the Financial Services (Jersey) Law 1998 continues into the affairs of Belgravia Financial Services Group Limited (“Belgravia”), a criminal investigation has now been commenced by the Joint Financial Crimes Unit of the States of Jersey Police. Senior members of the management team at Belgravia have been removed and replaced by the shareholder, Barclays Private Bank and Trust Limited, who hold the shares as trustee. Deloitte are assisting the trustee in the ongoing affairs of Belgravia. No further comment will be made at this time.
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Barry Faudemer - Director, Enforcement
Tel: + 44 (0) 1534 822137
Fax: + 44 (0) 1534 822001