Click to download Tribute to His Majesty PDF

Live Phuket The Phuket News Kata Rocks The Phuket News Outrigger Koh Samui Beach Resort
The Phuket News Business News
The Phuket News Phuket | Thailand | World | Business | Q&A | Weird World XML, RSS, Feed
The Phuket News The Phuket News
The Phuket News

Phuket Land developer Graham Bibby struck off by Hong Kong Commission

PHUKET: The Hong Kong Securities and Futures Commission (SFC) has revoked the licences of Richmond Asset Management Limited (Richmond Asset Management) and its responsible officer and sole owner, Graham Frank Bibby, and banned him from re-entering the industry for a period of 10 years.

property, land, crime,


The Phuket News

Tuesday 1 November 2016, 10:37AM


The Hong Kong Securities and Futures Commission (SFC) has revoked the licences of Richmond Asset Management Limited and its responsible officer and sole owner, Graham Frank Bibby, and banned him from re-entering the industry for a period of 10 years. Image: GrahamBibby.com screen grab
The Hong Kong Securities and Futures Commission (SFC) has revoked the licences of Richmond Asset Management Limited and its responsible officer and sole owner, Graham Frank Bibby, and banned him from re-entering the industry for a period of 10 years. Image: GrahamBibby.com screen grab

Correction: The Phuket News apologises for mistakenly stating that Graham Bibby was associated with the Phuket Land Group. He has no association with Phuket Land Group, Phuket Land, Phuket LandSearch and the website phuketland.com.

Management at Phuket Land Group today clarified that the company and its associated Phuket LandSearch Ltd both “have nothing to do with Graham Bibby”.

“Graham Bibby has absolutely nothing to do with us,” said Bob Andrews of Phuket Land Group.

“Regarding the Graham Bibby story, any reference to PhuketLand.com or Phuket Land Search being a Phuket-based company is completely wrong,” he said.

“There is no link financial or otherwise between Graham Bibby with Phuket Land or Phuket Land Search,” Mr Andrews confirmed.


[Original story continues...]

The 10-year ban began yesterday (Oct 31) and continues to October 30, 2026, the SFC announced in a public notice issued yesterday. (See notice here.)

The disciplinary actions follow a review of the SFC’s decision to sanction Richmond Asset Management and Bibby by the Securities and Futures Appeals Tribunal.

The SFC’s investigation found that Richmond Asset Management and Bibby are not fit and proper persons in that they procured investment funds from customers which were invested in assets which Bibby and his wife held substantial undisclosed interests.

"Specifically, Richmond Asset Management and Bibby obtained approximately US$5 million (more than B175 million) from 36 clients to invest in a company and a plot of land in Phuket (Phuket Land) [sic] in which Bibby and his wife held substantial undisclosed interests," said the SFC report.

The clients’ funds procured by Richmond Asset Management and Bibby were routed into three unauthorised funds (Optimizer Funds).

“Richmond Asset Management and Bibby were not only the investment advisers for the Optimizer Funds but also held management powers over the funds.

“Richmond Asset Management and Bibby directed monies invested in the Optimizer Funds into two other funds (Asia Property Funds) in which Richmond Asset Management and Bibby were also advisers and investment managers,” the SFC notice explained.

In November 2007 the Asia Property Funds advanced a loan to The Fairway Holding Company Limited (Fairway), a Thailand-based company in which Bibby and his wife held a combined stake of 75%. The loan – essentially monies invested in the Asia Property Funds from the Optimizer Funds – were then used by Fairway to fund the purchase of the Phuket Land. Bibby also paid part of the purchase price of the Phuket Land.

The Optimizer Funds have been suspended since April 2010 and redemption requests from clients have been unsatisfied. The Optimizer Funds have been in limbo since suspension with the Asia Property Funds having become its major assets whilst the Phuket Land [sic] remains unsold and Fairway has defaulted on the loan owed to the Asia Property Funds.

“Richmond Asset Management and Bibby failed to properly avoid and disclose potential conflicts of interest to its clients, abusing clients’ trust. In so doing they demonstrate they are unfit to be licensed to conduct regulated activities,” the SCF noted.

“In particular, Bibby played a central role in managing how the clients’ monies in their portfolios were invested and he initiated the structure of funds to channel the clients’ investments to a company and a property in which he and his wife have substantial interests,” the commission said.

Since launching Phuket Land, Mr Bibby has branched out into consultancy for personal wealth creation. He has authored several publications, including the regular “The Richmond Report” and the “How the Stock Market Really Works and the Empowering You” series of books.

Describing himself as “Legendary Asset Manager”, Mr Bibby notes on his website GrahamBibby.com, “I have seen many people spend their lives working hard to earn a living, trading time for money and never achieving their dream of financial freedom.

“After only a few years of getting your money working hard for you, you can reverse that cycle and obtain financial freedom, I have made it my mission to help people empower themselves to obtain this freedom.”

Mr Bibby also notes that he was a founding member of Financial Advisers in the United Kingdom and a founder of the Hong Kong Investment Institute.

“For more than 30 years, I have worked internationally, speaking to and motivating thousands of people in over 26 countries on how to create business, personal and financial success. I have over 28 years of experience specializing in how to manage investment portfolios to maximize profits and minimize losses, and working with currencies, commodities, bonds, financial and equity markets,” he says.

“With appearances on over 1,000 TV shows including CNBC, Reuters, Bloomberg, BBC, India TV and RTHK, it has allowed me to be seen by millions of viewers globally, plus, articles published in newspapers and magazines nationally and internationally have made me a sought-after speaker and consultant on the international stage.”

Mr Bibby recently formed what he calls “The Insiders Club” to empower people to create consistent, sustainable wealth.

 

 

The Phuket News
The Phuket News
Comment on this story
* Please login to comment. If you do not have an account please register below by simply entering a username, password and email address. You can still leave your comment below at the same time.
Comments Here:
Username:
Password:
E-mail:
CAPTCHA
    Forget your password?

Mick | 01 November 2016 - 18:40:43

At last this con man and fraudster is being brought to justice . Not only has he conned and defrauded people in Hong Kong , he and his wife have done the same in Phuket . I just hope that the authorities in Hong Kong  take him back from his sanctuary in Perth Australia where he lives the high life with other peoples money  and  puts hi. In prison .He continues to con people through his Insiders Club . I hope all those subscribing find out what a thief he is .

The Phuket News
Matches 1 result(s)
The Phuket News
The Phuket News
The Phuket News
The Phuket News The Phuket News The Phuket News
The Phuket News
Share this
The Phuket News
Have a news tip-off? Click here
The Phuket News
Related stories
The Phuket News
Phuket community

Recent Comments


Phuket Opinion: No more beating about the bush

Joe12, as you are one of the reason for this article, I would suggest if everyone agreed/thought, like you, then all would be ok, the problem is, you ...(Read More)


Army hunts down Phuket taxi driver for refusing airport tourist passenger

marcher, you should really watch the video before you make a comment. If you had bothered, you would learn that the lady had the taxi use the meter. S...(Read More)


Army hunts down Phuket taxi driver for refusing airport tourist passenger

B1,000 fine clearly does not deter taxi drivers from over charging or behaving badly. You need to cancel the taxi license and stop being so soft o...(Read More)


Phuket Opinion: No more beating about the bush

Get rid of the comments. They serve no useful purpose. Most comments are not opinions but unadulterated garbage and mostly unintelligible. So if Paull...(Read More)


B22.4mn erosion protection project underway at Phuket’s Karon Beach

Is it my old eyes, or is there a lack of reinforcing steel rods, and concrete, binding these blocks together? Nature will win....(Read More)


Army hunts down Phuket taxi driver for refusing airport tourist passenger

Amazing Thailand yet again. A woman argues about being charged B700 taxi fare when other drivers charge B1000! Didn't she agree this beforehand? I...(Read More)


Army hunts down Phuket taxi driver for refusing airport tourist passenger

A normal Phuket taxi practice as mentioned in this article.. --- Overcharged, preferable not use taxi meter ( they cover with face towel). --- Indee...(Read More)


Phuket illegal daily rental 'hotels' face deadline

Red yesterday in B-P that in Thailand there are estimated 400,000 - 450,000 illegal 'accommodation properties'. Authorities expect to need 5 ...(Read More)


Dhammajayo ‘won’t get bail’

Another 'deadline', of 3 months ?! No bail? Why Police talk about bail? That is a matter the Attorney-General to talk about and to handle. N...(Read More)


Phuket illegal daily rental 'hotels' face deadline

Once again lets go after small businesses. These short term rentals were having a drastic effect on hotel bookings? How about hotel bookings having a ...(Read More)

The Phuket News
Bangkok Hospital Phuket
PHUKET NEWS
Phuket
Thailand
World
Business
Q A
Weird World
ARCHIVE
POLL
CURRENCY
WEATHER
PHUKET TIDE TABLE
The Phuket News PHUKET LIFE
Phuket Arts
Phuket Community
Phuket Culture
Phuket Dining
Phuket Education
Phuket Entertainment
Phuket Environment
Phuket Health
Phuket People
Phuket Technology
Phuket Travel
Photo Galleries
COLOURING BOOK
The Phuket News PHUKET SPORT
Phuket
Thailand
World
SURF REPORT
PREDICTIONS
The Phuket News PHUKET CLASSIFIEDS
Phuket Buy and Sell
Phuket Jobs
Phuket Property
Phuket Cars and Boats
Phuket Community
Phuket Services
SEARCH CLASSIFIEDS
POST CLASSIFIED
The Phuket News The Phuket News PHUKET EVENTS
Phuket Event listings
Phuket Event calendar
Buy Tickets
POST EVENT
The Phuket News PHUKET DIRECTORY
Phuket Bars, pubs and clubs
Phuket Hotels and villas
Phuket Restaurants
Phuket Yellow Pages
POST LISTING
The Phuket News BARGAINS
The Phuket News ABOUT US
The Company
Distribution points
Subscribe
Advertise with us
Pay for advert
Contact us
CONTESTS
Content Google Map
Site map
Australian Visa Services
 
Currency - The Phuket News   Weather Report - The Phuket News   Surf Report - The Phuket News
LinkedIn - The Phuket News   Twitter - The Phuket News   YouTube - The Phuket News   Facebook - The Phuket News
Copyright © 2016 Class Act Media. All rights reserved. | Website usage terms and conditions | Privacy and Confidentiality Statement.