OSC found Global Energy defrauded about 200 investors of over US$16m
Global Energy Group, Ltd. · Oil and gas investment partnerships (boiler-room sales)
The case in brief
Visible before detection
Checks that could have surfaced it, on hindsight
End-use tracing of funds
Bank records would show investor money going to a third-party account rather than escrow for drilling.
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.
Counterparty existence
Well and lease records would show that wells were not all drilled.
Can mislead when: Real companies can be used as pass-throughs. Existence does not prove a real trade, so C6 and C7 still apply.
Regulatory & litigation records
Corporate registry checks would show the firm was formed in 2007.
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
Verified Snapshot
Offered in India- C4 Well and lease records would show that wells were not all drilled.
- C8 Corporate registry checks would show the firm was formed in 2007.
Valuation context
Offered in India- C4 Well and lease records would show that wells were not all drilled.
- C8 Corporate registry checks would show the firm was formed in 2007.
Borrower monitor
Offered in India- C6 Bank records would show investor money going to a third-party account rather than escrow for drilling.
- C8 Corporate registry checks would show the firm was formed in 2007.
Proceeds tracer
Offered in India- C4 Well and lease records would show that wells were not all drilled.
- C6 Bank records would show investor money going to a third-party account rather than escrow for drilling.
Mapped from the checks each service runs. A hindsight reading of public records, not a promise that the failure would have been found.
Same pattern
A summary of public documents. It reports what the sources say. It is not Kubr's finding and not a statement of guilt.