* The Essence of the Newpoint Fraud

At the core of the Newpoint fraud is Newpoint Reinsurance Company Ltd, based in St Kitts & Nevis (www.npre.kn), which falsely presents itself as a reinsurance giant with backers capable of billions of dollars in liquid asset support.

In reality, its assets are illusory — completely encumbered, based on falsified documents or represent an utter commercial sham. Without doubt, all of Newpoint's assets are >100% encumbered.  Enitrely geared!

Newpoint has exploited the illusion of strength to secure reinsurance contracts and collect c$600 million in premium in return for undeliverable and empty promises of cover - often taking cash for insuring the almost uninsurable.

This website About Newpoint Reinsurance exposes that the scheme relies on forged documents, false financial statements, and the ongoing support of convicted fraudsters, stripping Newpoint of any genuine ungeared assets with which to underwrite the risks it's taking in its day-to-day operations.

Fully secured creditors, including individuals previously jailed for tax fraud, are responsible (with the consent of Keith Beekmeyer and Andy Bye) for creating and circulating counterfeit documents.  

Unsecured creditors, such as policyholders, exposed fronting companies and other stakeholders, will receive a nil return in the event of significant claims or due to regulatory intervention: the Newpoint Nevis business has no genuine assets unencumbered.  No net capital.

The beneficiaries of this fraud include those billing Newpoint for 'management fees', professional advisors who've looked the other way together with Keith & Andy's dubious backers / associates whereby otherwise unfit people control this (re)insurance business.

This deliberate ploy to mislead regulators (and ratings agencies) casts doubt on the integrity of the global insurance market.  The potential fallout threatens severe financial losses for policyholders, claimants, fronting companies and more.

Urgent action is called for - to include Mareva-style freezing orders by the FBI, Scotland Yard, regulatory bodies, or all of the above: to prevent the compounding of the harm the public has already endured, being duped of c$600 million in premium over recent years.

I welcome your feedback, anonymous posts, tip-offs, documents, photos and more - confidentially or otherwise - via the instant chat tool - bottom right corner, contact us page, Got a Story page link or otherwise.  Please also subscribe for blog updates.  Finally, please circulate links to this website to those who may benefit from its contents using the social links below.

Mark J Smith, MBA, JD, author

9 September 2024.

PS.  I've attached a copy of my open letter to the FBI, Scotland Yard and Global Insurance Regulators and encourage anyone with information relevant to a criminal investigation to do the same or otherwise provide tip-offs here.