Montaque was a securities investment advisor registered with the Securities Commission of the Bahamas. Montaque was insolvent, and its assets and those of its customers were found to be co-mingled.
KRyS Global was appointed liquidator of Montaque and was tasked with addressing the ownership of the remaining assets of the estate.
KRyS Global was instructed by the Supreme Court of the Bahamas to conduct a forensic accounting exercise that would assist in its determination of the ownership of the remaining assets.
This exercise included the review of 7 bank accounts and 95 brokerage accounts. KRyS Global’s report was provided in the timeframe stipulated and concluded that the majority of the assets were assets of the customers.
KRyS Global was able to utilise a proprietary financial model to trace bank and brokerage account transactions to quickly analyse the transactions and determine the ownership of the remaining account balances.
KRyS Global’s report assisted the Supreme Court of the Bahamas in its determination of the ownership of the various types of assets remaining in the Montaque estate as of the date of liquidation.