The British lawyer Robert Courtneidge is regarded as an expert in payment transactions and is also labeled as a Fintech pundit. What is certain, however, is that Courtneide has been involved in many of the major money laundering scandals of recent years. He is currently the CEO of the FCA-regulated payment transactions provider Moorwand Ltd, was involved in the Danish KBH Andelskasse, which has since been closed due to money laundering, and, according to former colleagues, has also advised OneCoin.
Director of Moorwand
ON March 6, 2020, Robert Courtneidge resigned as a director of FCA-regulated e-money institution Moorwand Ltd.
Moorwand Ltd, founded by Alain Bazille, and the associated UPC Consulting Ltd have been involved in countless binary options and broker scams as payment transaction service providers. In April 2018 Courtneidge was appointed director of Moorwand Ltd. Prior to that he was a partner at the US law firm Locke Lord. In the course of the investigations of the U.S. authorities against US lawyer Mark S. Scott it was uncovered that Cortneidge (LinkedIn profile) also served together with Scott with US lawfirm Locke Lord as Global Head of Card and Payment Services. Currently, Robert Cortneidge is also being investigated as one of the persons responsible for the money laundering scandal at the Danish KBH Andelskasse.
Involvement in ePayments System
On February 11, the FCA-licensed e-money institution ePayments System Ltd has been ordered by the FCA to suspend all activity for “an indefinite period.” The regulator found “a number of weaknesses” in its anti-money-laundering (AML) controls. ePayments Systems is one of the big e-money institutions in the UK with over a million private accounts and more than 1,000 business accounts. Allegedly, the company has issued more than 75,000 prepaid cards as a principal issuer of Mastercard. It booked profits of more than £18m on revenues of almost £28m in the year up to the end of April 2019, with a whopping 66% gross profit margin according to Alphaville. Its director Robert Courtneidge resigned on February 17, 2020.
Facilitating Anabus Scheme
In Australia, Courtneidge is accused in the Anabus Scheme, an gold-based investment scam of 240 investors of knowingly and willfully issuing false confirmations. A new Court judgement was issued on March 3, 2020. More than 240 claimants who are represented by Forsters are seeking to recoup $9.3 million. The lawsuit was filed in 2016. The court agreed with the plaintiffs’ view and allowed the lawsuit to proceed. The court also stated that this is a clear case of fraud, which must also be dealt with before a criminal court. Courtneidge is at the heart of the case with allegedly falsely issued confirmations and comfort letters.
Robert Courtneidge confirmed the existence of apparently non-existing asseds and allegedly also issued respective comfort letters facilitating the Anabus Scheme.
It turned out, that the purported assets of LLPP Insurance were in fact non-existent. Courtneidge and his partner Bobby Gill knew this, the claimants asserted and the Court evidently followed them given the evidence provided. Despite the non-existing assets, the confirmations were issued. In return, Courtneidge and his partner Bobby Gill and/or their GC Wealth Limited (UK) apparently received a percentage of the payments from the unsuspecting investors.
The design of this Anabus Scheme was apparently characterized by conflicts of interest, sham confirmations, and fraudulent intent. According to the statements of the Australian court, Robert Courtneidge and his GC Wealth Limited played a decisive role in this and facilitated the Anabus Scam with his advice, confirmations, and comfort letters.