By Chris Lang
Andrew Skeene and Omari Bowers ran a company called GFI Consultants Ltd. They used the name Global Forestry Investments and claimed to offer an “ethical and financially rewarding investment” in teak plantations in Brazil.
A company brochure explained that,
The Global Forestry Investments (GFI) Belem Sky Plantation aims to provide long-term growth through investing in Brazilian sustainable forestry. Investors have an opportunity to participate in an ethical and financially rewarding investment.
In 2014, the company was wound up. Investigators with the Insolvency Service found that Global Forestry Investments raised a total of almost £24 million. Investors received a total of less than £710,000.
The liquidator obtained a worldwide freezing order for more than £10 million. Bowers and Skeene challenged the freezing order and in November 2018, a compromise settlement was agreed under which they would make monthly payments totalling £8.6 million.
The liquidators’ investigations into Global Forestry Investments and other Skeene and Bowers companies uncovered a complex financial structure with companies in the USA, Dubai, Belize, St Vincent and the Grenadines, and Mauritius.
In February 2015, the Serious Fraud Office announced that it had “opened a criminal investigation into alleged fraud concerning Global Forestry Investments and Global Forex Investments.” In July 2019, the Serious Fraud Office announced that it had charged Skeene and Bowers with conspiracy to defraud, forgery, and misconduct in the course of winding up.
In January 2018, Skeene and Bowers were banned for 10 years each from controlling or managing a company in the UK.
Skeene was arrested at Heathrow Airport on 29 June 2019. Bowers was arrested at Gatwick Airport on 30 October 2019.
Skeene’s arrest took place days after the liquidator had handed over the details of the November 2018 settlement to the Serious Fraud Office. Skeene and Bowers argued that doing so was in breach of the settlement agreement.
Last week, High Court Judge Philip Kramer rejected their arguments and ordered them to continue payments under the £8.6 million settlement.
On its website, the Serious Fraud Office lists three upcoming court dates for Skeene and Bowers in Southwark Crown Court:
- 2 April 2020: Case management hearing
- 18 September 2020: Case management hearing
- 6 April 2021: Trial
Reporting on the recent ruling, Tony Hetherington writes in the Mail on Sunday that,
As both men are awaiting trial, there are legal restrictions on what can be published, but I can say that I reported on their scheme to invest in teak trees in Brazil as long ago as 2011.
REDD-Monitor has reported on Global Forest Investments three times:
I was an SIPP Investor in GFI Belem Sky but I have yet to receive any monies back. Where is the £8.6m going and when can investors expect to get something back?
Andrew and Omari had others involved in their FRAUD. Jake Fenton AKA Gavin Wilson (They used him to open many LTD companies and Raj Von Badlo AKA Raj Shastri AKA Raj Paull. He got hundreds to invest in GFI and GFXI knowing full well it was a SCAM and was happy to take 10% of whatever they invested up front from Bowers and Skeene. Why isnt Raj on trial he was complicit in this scam. They will both easily get 10 years. Southwark is the Fraud Court.
Raj went jail for a couple of years. NO doubt he’s out with a new name by now and at it again with another scam. https://www.lovemoney.com/news/45463/raj-shastri-foreign-exchange-scam-imprisoned
The regulated IFAs who recommended the products should all be prosecuted too. That is the point of regulation after all.
I have been contacted by the SFO and they are not pursuing the GFXI investigation only the GFI side. Where does that leave those who invested with GFXI? How do we make sure that this isn’t forgotten about?
Are they remanded or are they still walking free?