Former clients of disgraced financiers David and Antoinette Bolden have objected to the couple’s application for a land licence for their Hamilton Parish home.A notice in the Official Gazette on May 30 revealed that Bermudian Mrs Bolden, 48, has applied to the Minister responsible for Immigration for permission to acquire Walsingham Lodge on Harrington Sound Road on behalf of her Canadian husband.The couple, whose Emerald Group of Companies was put into liquidation in 2009 due to concerns raised by Bermuda Monetary Authority (BMA), have lived in the house with their children for years and the address is listed on Mrs Bolden’s entry on the parliamentary register.The notice does not explain why she is now asking as “constructive trustee” for permission to acquire the house and the acre of land surrounding it on behalf of Mr Bolden.But former clients who lost money after investing with Emerald have sent letters objecting to the application to the Department of Immigration.Canadian private detective Lloyd Larson, who invested money himself and is investigating, on behalf of other investors, a Costa Rica condo scheme launched by the Boldens, told The Royal Gazette a number of people sent e-mails this week to Acting Chief Immigration Officer Danette Ming.He shared his letter with this newspaper and said others used the same format. The letter suggests that approving the application would be an “insult” to investors who lost money with Emerald and that any assets the Boldens have should be used to pay back creditors.Dr Ming acknowledged Mr Larson’s letter in an e-mail on Thursday.She wrote: “Please be assured the letter will be included with the file for the Minister’s consideration of the land licence application by the Boldens.”The Royal Gazette asked Dr Ming how many other objections had been received and to explain the nature of Mrs Bolden’s application.She replied: “We do not speak on individual applications. The Official Gazette clearly stated the nature of the application.”The Boldens could not be reached for comment but a source close to the couple told this newspaper: “The house ... has been owned by the Boldens for at least 15 years, maybe more. They are fulfilling their obligation under law, as David is a non-Bermudian.”The Emerald Group of Companies is being wound up by KPMG on behalf of the Official Receiver (OR) after the BMA took enforcement action in summer 2009 due to concerns about the firm’s liquidity.The Boldens were found guilty of misleading the BMA and not guilty of theft and money laundering allegations in relation to the Emerald Group of Companies by a Supreme Court jury a year ago.Walsingham Lodge has an annual rental value of $108,000, according to the Department of Land Valuation.The Official Receiver Stephen Lowe, in response to a question about the house, said: “The property at Harrington Sound Road is not owned by any of the Emerald Group of Companies in liquidation.“Therefore, it does not form part of the assets from which a distribution to creditors would be made.”He explained that as liquidator his priorities have been to “identify client funds and seek the return of those funds as speedily as possible”.Mr Lowe said: “A great deal of investor funds have now been returned to Emerald clients.“The OR is empowered under various orders of the Supreme Court of Bermuda to administer the estates of the various Emerald companies over which he is appointed and he does not need to go back to court unless there are matters for the court to consider.“There are no such matters pending and there is therefore no further hearing scheduled at the present time.“Where appropriate, the OR is moving towards closure of the liquidations, where asset realisations and distributions to creditors and stakeholders have been concluded to the extent possible.”He said investors who placed money and investments through Emerald Financial Limited as a broker, or using Emerald’s online trading platform, Directrade, had been dealing directly with Emerald’s custodian, Pershing LLC, to receive their money or investments back.“It is understood that most former Emerald clients have now concluded this process,” said Mr Lowe.He said Strategic Growth Fund investors received a distribution representing a return of 94.7 percent on the last net asset value that was reported to them prior to the OR’s appointment.High Income Fund investors, according to Mr Lowe, received a distribution representing a return of 95.8 percent of their investment principal.“Creditors of both funds have received, or are expecting to receive, 100 percent of the money due to them,” he added.The failed condo scheme in Costa Rica involved EFG International Realty LP1 (EFGIR), a Bermuda limited partnership, and Emerald International Management Limited (EIML), a regulated financial firm owned by the Boldens.Mr Lowe was appointed liquidator of EIML in August 2009 and receiver of EFGIR in April 2010.He said in March: “Unfortunately, a distribution, if any, to EFGIR investors will represent a small fraction of amounts invested.”Former Emerald clients with queries about the liquidation process should e-mail emeraldinfo@kpmg.bm.Those wanting to object to Mrs Bolden’s application have until Wednesday to send their reasons to the Minister for Immigration at PO Box 1364, Hamilton HMFX.