Naul Bodden over-extends his CPA status...
Prominent Caymanian businessman Naul Bodden is linked with at least one of the four Cayman–domiciled entities, which are called Grand Island Commodity Trading Fund I; Grand Island Commodity Trading Fund II; Grand Island Income Fund; and Grand Island Master Fund. The first three entities are all registered by CIMA, while the last one is unregulated.
CIMA issued a statement on the matter after meeting with Joint Voluntary Liquidators David Walker and Nick Freeland of PricewaterhouseCoopers this week.
The JVLs were appointed by the shareholders after an extraordinary general meeting on 17 June following the discovery of trading irregularities, CIMA said in its statement.
Contacted on 13 June, Mr. Bodden said CIMA had already been made aware of the situation. He also confirmed the extraordinary general meeting would take place when it did. However, Mr. Bodden said he did not want to make any further comment before speaking to his attorney at Appleby.
Efforts to get further comment from Mr. Bodden have been unsuccessful.
Mr. Bodden’s exact involvement in the funds is not clear at this time. However, in his biography posted on the website of the non–profit organisation Generation Now – of which he is patron – Mr. Bodden is stated to be the “Investment Advisor and founder of Grand Islands Commodities Trading Fund”. The website also says Mr. Bodden is the shareholder and director of a number of companies and manages in excess of $100 million of diversified assets.
Naul Bodden also an investment advisor on the Cayman Island Real Estate Fund so one might want to think twice about putting their money with someone who is really only a CPA, and not classical trained in business finance.
2 comments:
Naul Bodden??
Mmmm - Mr. Pretty!
Man you know its Caymanians like him who seem to be in top notch gear when it comes to development. He never contributed anything to these Islands besides his personal gain and interest with other Caymanians like himself (merchant class ass holes!) and their lil offshore buddies.
Never has he said, "Let me build some homes for the lower class Caymanians". "These Islands have giving me so much". Never a park, never a wholesale shop, never a low income home for the needy, no contributions to the pines, no contribution the environment….just to name a few!!
And did you know he's one of first Caymanians with a CPA!!
He likes fishing too, so maybe his drag line might be getting in bit of a net here. Have to wait and see!!!!
Makes you wonder how a leading CPA loses focus and trip up like this. It's always interesting watch the all-mighty fall.
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