So who really owns/controls the Sterling Group of entities??
As Mr. Howell Woltz has testified at his recent deposition, a small group of people control and own all
the Sterling entities: Howell and Vernice Woltz, Fertina Turnquest, Samuel Currin, Joseph Brice, Hiram
Martin, Thom Goolsby, Walt Hannen, Wendell Skeete and Lewis Borsellino. For example, Howell
Woltz is the managing director and President of Sterling ACS Ltd., a director and President of Sterling
(Anguilla) Trust, a director of Sterling Casualty & Insurance Ltd. and Sterling Bank Ltd., was the
incorporator of Sterling Investment Management Ltd., is co-owner of Sterling Alliance Ltd. and signed
the claim form submitted by Strategic Investment Portfolio LLC, which, he testified, does not exist but
was Vernon Abernethy’s “idea.” Mr. Woltz also owns 30% of the stock of Sterling ACS Ltd., 9% voting
stock of Sterling (Anguilla) Trust, 25% of Sterling Casualty & Insurance Ltd., 10-11% of Sterling Bank
Ltd. and 100% of Sterling Alliance Ltd. with his wife, Vernice Woltz. Vernice Woltz is CFO of Sterling
ACS Ltd., a director and President of Sterling (Anguilla) Trust, part owner of Sterling Bank Ltd. and co-owner
of Sterling Alliance Ltd. One or both of the Woltz's, moreover, had signatory authority over all the
domestic bank accounts known to be held in the names of the Sterling claimants for most of the life of
those accounts and received the majority of monthly activity statements from the banks.
cftc.gov |
