KUBR

Barlow Clowes sold 'gilt' funds to 18,000 savers and was wound up owing £190 million

Barlow Clowes International · Investment management (private)

Misuse of raised fundsFake customers or vendorsRegulatory breach

The case in brief

Visible before detection

    Checks that could have surfaced it, on hindsight

    1

    End-use tracing of funds

    Would have traced client money into the founder's spending.

    Can mislead when: Kubr sees only the company's own accounts. Once money reaches a third party's bank, Kubr can flag the payee but cannot see the next hop without that party's consent.

    2

    Third-party confirmation

    Would have confirmed gilt holdings with custodians.

    Can mislead when: Counterparties can collude or ignore requests. A non-response is logged as a gap, never as a pass.

    3

    Regulatory & litigation records

    Would have found regulator concerns.

    Can mislead when: Court records lag and name spellings vary. A clean record can mean the problem has not reached court yet.

    Where Kubr services would have helped

    Borrower monitor

    Offered in India
    • C6 Would have traced client money into the founder's spending.
    • C8 Would have found regulator concerns.

    Verified Snapshot

    Offered in India
    • C8 Would have found regulator concerns.

    Legal diligence support

    Offered in India
    • C8 Would have found regulator concerns.

    Promoter profiles

    Offered in India
    • C8 Would have found regulator concerns.

    Mapped from the checks each service runs. A hindsight reading of public records, not a promise that the failure would have been found.

    A summary of public documents. It reports what the sources say. It is not Kubr's finding and not a statement of guilt.