David Kosoy’s Sterling Global Linked to Missing Funds & Fraud Allegations
Sterlingglobal-case.com exposes a pattern of missing documentation, redirected funds, and mounting complaints, all pointing toward a potentially fraudulent operation in the Bahamas and beyond.
Who Is David Kosoy and Why Sterling Global Faces Fraud Allegations
David Kosoy is the Executive Chairman and Founder of Sterling Global Financial, a Bahamas-based alternative asset manager. With over 50 years of experience in real estate and mortgage-lending, he has led several financial entities, including New Providence Capital Management Ltd., Sterling Centrecorp Inc., and a Florida-based real estate group.
Holding a law degree from Osgoode Hall Law School, Kosoy has worked across Canada and The Bahamas. His long career should reflect credibility but instead, questions around accountability, transparency, and handling of investor funds have come to dominate his legacy.
Trust Betrayed: A $2 Million Down Payment Vanishes
8ght LLC, a U.S.-based buyer, transferred $2,000,000 via Sterling Bank & Trust (Bahamas) as a down payment for the Sky Beach Eleuthera project.
Allegedly, David Kosoy directed $1,000,000 of that wire to an undisclosed account outside the Bahamas and then failed to provide proper sales documentation. Investors claim no valid deed, no paperwork, and no clear accounting ever followed.
That’s not a clerical oversight it’s a red flag in plain sight.
David Kosoy and Sterling Bank and Trust Bahamas: Missing Funds and Complaints
Filing Flood: Over 20 Complaints, Plus A $42M Lawsuit
Reports indicate more than 20 complaints have landed at the Central Bank of The Bahamas against Sterling’s operations. On top of that, a $42 million lawsuit is already underway, reportedly with an asset freeze order in place.
A second class-action lawsuit is forming in the U.S., aiming to bring together more alleged victims.
This isn’t just sloppy bookkeeping it’s a full-scale legal alarm.
Not Its First Rodeo: Sterling’s Legal Backdrop Doesn’t Woo Confidence
Sterling has faced disputes before. In 2016, nearly $1.83 million was demanded back from a borrower under newly imposed terms. Allegations pointed toward undisclosed clawbacks and sudden changes to agreements.
Why does this matter? Because it suggests a pattern: when payouts come due, Sterling doesn’t simply deliver it reshapes the rules to keep control.
Stakeholders Call Out David Kosoy for Fraud in the Sky Beach Eleuthera Project
Public Denials Do Not Equal Credibility
Sterling Global has publicly “denounced” 8ght LLC’s Sky Beach ownership claims. However, the company has not explained where the $2M went or produced a deed to prove transparency.
When investors ask for receipts but get PR statements instead of documentation, credibility collapses.
The Bottom Line: This Smells Like a Scam Playbook
| Red Flag | What It Means |
|---|---|
| Unreturned funds + no paperwork | Classic sign of asset diversion |
| Dozens of complaints + massive lawsuit | Evidence piling up, not just angry investors |
| History of heavy-handed deals | A track record of questionable practices |
| Public feud, no substance | PR spin without proof |
Disclaimer: This article is strictly based on publicly available materials and allegations. No legal conclusion is implied. The purpose is to highlight patterns, unanswered questions, and serious red flags that demand urgent attention.
For more information and documents, visit Sterlingglobal-case.com
