The new owner of British financier Lord Moyne's shares in Swedish investment group Trustor is a secretive operation registered in the Virgin Islands, Swedish media reported Trustor said in a statement on Tuesday it had been informed that Lord Moyne had sold his Trustor shares to St Crispin Trading Ltd on October 30. No information on the company was provided by either Lord Moyne or Trustor.

Business daily Dagens Industri said the company was registered in the Virgin Islands in the Caribbean, but ownership details were unavailable and the telephone number provided reached another firm, called Trident Chambers.

Lord Moyne, also known as Jonathan Guinness, acquired 16.6 per cent of Trustor's share capital and 51.9 per cent of the voting rights in May this year.

Only a month later 620 million Swedish crowns ($79.5 million) were transferred from Trustor's account to Britain were then dispersed to various accounts around the world.

Lord Moyne has denied any wrongdoing, but two of his Swedish advisers have been charged with breach of trust and are in custody in a Stockholm jail. A third is being sought by police.

In an interview with daily Svenska Dagbladet yesterday, Lord Moyne admitted he had lied about buying the Trustor shares with his own money in May. "I did not tell the truth, but I was paid to be a front," he told the paper.

Lord Moyne also said he regretted getting involved in the company in the first place.

"It was very silly of me to get involved in this. I obviously should have asked more questions, but everything seemed respectable," he said.

Trustor said on Tuesday it would seek to nullify the value of the shares owned by Lord Moyne or St Crispin, regardless of the latest sale.

Board chairman Gunnar Ekdahl told Reuters the company, which has asked for a complete liquidation of Trustor to protect minority shareholders, would take legal action against Moyne and sue for the missing funds.

"We intend to sue Lord Moyne for the money which is missing. His shares should be made null and void, even if he has sold them to someone else," Ekdahl said.

If this move is successful, Lord Moyne would be denied the right to any of the proceeds from a liquidation.

The Stockholm district court will rule on liquidation later this month.