First Global Inc
This notice is issued by the Financial Supervision Commission (“the Commission”) in accordance
with the powers conferred upon it under Section 22 of the Financial Supervision Act 1988.
Peerless Equity Group Limited
Global Asset Principals Limited
First Global Inc. of Nevada
Allied Boston Group
The Commission is aware of Internet news reports suggesting that Peerless Equity Group Limited
and Global Asset Principals Limited, both presented as Isle of Man companies, had entered into
agreements for the discounting and purchase of “documentary credits” and “documentary letters
of credit” to the value of USD 450 million and USD 500 million respectively. The reports also
describe Peerless Equity Group Limited and Global Asset Principals Limited as “financial
powerhouses”, and claim that Peerless Equity Group Limited is “a USD 25 billion financial services
The entity claiming to have entered into these deals with these companies is First Global Inc. of Las
Vegas, Nevada, which promotes itself as “an organisation of independent business specialists”
providing “diverse business skills and affordable business management services under one operating
entity.” First Global Inc. claims to operate from offices at 6655 West Sahara, Suite B102 & B104,
Las Vegas, Nevada 89146. It operates a website at www.firstglobalworld.com.
Enquires made of the authorities in Nevada reveal corporate registration details for an entity called
First Global Inc., but operating from a different address, and involving different individuals. There is
therefore potentially some doubt that First Global Inc. of 6655 West Sahara in Las Vegas is a
legitimately established corporation in Nevada.
There are no companies incorporated in the Isle of Man with the names Peerless Equity Group
Limited and Global Asset Principals Limited. There are however Isle of Man incorporated
companies called P.E.G. Limited and G.A.P. Limited. The directors of both companies have indicated
that they have no knowledge of First Global Inc., and that they have not entered into agreements
of any nature with First Global Inc. Both P.E.G. Limited and G.A.P. Limited make no claim to being
“financial powerhouses”, nor to being multi-billion Dollar financial services organisations.
The registrant of the www.firstglobalword.com website is currently recorded as First Global Inc.,
with Alan Lullove of 6655 W. Sahara Blvd., Ste. B102-B104, Las Vegas, NV 89146 recorded as the
administrative and technical contact.
Previously however, the administrative and technical contact recorded for the website was Sabrina
Scarino of Allied Boston, 100 Pine Street Suite 2260, San Francisco, CA 94111.
In June 2000, the Office of the Comptroller of the Currency (OCC) in the United States issued an
Alert relating to unauthorised banking activity in the United States by Allied Boston Bank Inc. of 100
Pine Street, Suite 2260, San Francisco, CA 94111. The entity appears to possess a banking licence
issued by the Republic of Palau. The full text of the Alert can be viewed at the OCC website.
An American citizen has recently contacted the Commission indicating that an individual claiming to
act for First Global Inc. has attempted to establish a business relationship with him. The individual
acting for First Global Inc. represented it as being an Isle of Man company.
There is no Isle of Man incorporated company with the name First Global Inc., nor is there any
registration for a foreign incorporated company of that name with a place of business on the Isle of
The Commission would urge any persons considering entering into a business relationship with First
Global Inc. to exercise the greatest possible caution before proceeding, bearing in mind the content
of this Public Notice.
Any persons who are already involved in any dealings with First Global Inc. and have concerns
should contact the Enforcement Division on +44 1624 689312 or by email to [email protected].