The former executive director of a Bermuda-based investment company which is under investigation for fraud is himself being investigated by the London-based Accountancy Investigation & Disciplinary Board.

The board is inquiring into the conduct of Geoffrey Stuart Pearson, 58, who resigned as Langbar International Ltd.?s executive director in February, in relation to the establishment, listing and affairs of Langbar International Limited.

Mr. Pearson only joined the company in June 2005, just months before Langbar announced that it could not establish the existence of bank deposits with ABN Amro BV and Banco do Brazil totalling about ?370 million. Trading in Langbar shares were suspended at the company?s request on London?s Alternative Investment Market last October and the company is currently the subject of an investigation by the London-based Serious Fraud Office.

Earlier this month, Langbar?s former chief financial officer, Jean Pierre Regli, was found guilty in the High Court of London of contempt of court for failing to comply with a freezing order on his assets. Sentenced for six months in absentia, he is believed to be in Switzerland.