04 Jul 2016
Private investigators have reported that two of the “Cayman Gang of Four”, Derek Buntain and Sharon Lexa Lamb, the fired president, and senior vice president respectively of closed Dundee Merchant Bank, used their shell company, Winterborne Management Ltd (WML) to steal and move tens of millions of dollars into a Cayman Islands-based hedge fund that they were connected to.
The Cayman Gang of Four illegally transferred client funds to WML without authorization, and the money has disappeared. Fraud, securities fraud, money laundering, and racketeering have been allegedly among the many criminal acts that both Buntain and Lamb have committed.
Winterborne is not to be confused with Winterbourne, though many financial criminals form companies with names that are deceptively similar to those of well-established firms with a long track record, which leads the victims to believe that they are dealing with an old legitimate company.
Sharon Lexa Lamb, who, as a fiduciary, was personally responsible for millions in client assets, has repeatedly threatened victims, who were seeking their money, with notification to taxing authorities, claiming tax evasion.
While the circumstances surrounding the termination of Buntain and Lamb from their senior positions at Dundee are not known, it is believed to be upon the grounds of fiduciary misconduct. Buntain has also been dismissed as a director of Dundee Precious Metals, Inc.
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