UK-Based Offshore Group Imperial Consolidated Has Its Audit Rejected

Offshore Alert, Miami

06 February 2001

OffshoreAlert, a well-known Internet offshore information service, which specialises in uncovering and reporting on illegal or fraudulent offshore activity, has reported that Imperial Consolidated, a British-based world-wide financial services group which includes a Grenadian bank and a Bahamas investment company, has had its consolidated accounts rejected by the UK's Companies House (company registrar). David Marchant, the publisher of Offshore Alert, also says that his investigations into Imperial Consolidated may be linked to suspicious characters who have have been snooping outside his Miami home and office in the last few days.

Here is the report from Offshore Alert, at http://www.offshorebusiness.com

'A spokesman for Companies House for England & Wales told OffshoreAlert today that the first ever audited finacial statement for Imperial Consolidated PLC, which is the British holding company for the Imperial Consolidated financial services group, has finally been submitted to regulators - and rejected.

'The audit was due to have been submitted to Companies House on or before December 30, 2000 and had officially been listed as 'OVERDUE' at Companies House until today, when its status was changed to 'PENDING'.

'A spokesman for Companies House said that the term 'PENDING' meant that the audit had been submitted and rejected and said that regulators were waiting for the audit to be resubmitted. No further details are currently
available.

'Imperial Consolidated has refused to comment on its audit problems and OffshoreAlert received a letter on its behalf last week from a Miami-based attorney asking the newsletter not to directly contact the group again.
All future correspondence involving Imperial Consolidated must be directed to the Miami law firm, wrote the attorney.

'Meanwhile, in something that may or may not be related to OffshoreAlert's on-going investigation into Imperial Consolidated, David Marchant, Publisher of OffshoreAlert, has caught three men snooping outside his home and his office over the last seven days.

'In two separate instances, the men appeared to be investigators trying to determine the exact numbers of the office and apartment that OffshoreAlert operates from, information that is not widely available.

'One of the men has been caught on a security camera and his image is being passed on to law enforcement authorities in the US and the UK as a precaution.

'We emphasise that no threats have been made, that we have no evidence of any illegal activity and we have no evidence linking these incidents to any one particular group but the activity could reasonably be described as
suspicious and we are taking all necessary precautions.

'One thing that we guarantee you is that OffshoreAlert cannot be intimidated into not reporting about anything or anyone and we will certainly not stop any pending investigations. In fact, we will probably step them up.

'This message has been brought to you by:

'Offshore Business News & Research
123 S. E. 3rd Avenue, PMB #173,
Miami, FL 33131, USA.
Tel.: 305-372-6267
Fax: 305-372-8724
Email: info@offshorebusiness.com
Web: www.offshorebusiness.com'

David Marchant described the video record as showing 'a scruffily-dressed, ugly looking guy of about 5 ft. 7 ins. and of tanned skin' - the FBI has been duly notified, he said

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