Marked as
Last updated - September 20, 2025
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Edward Banayoti, formerly Ernest Anderson, has a troubling past tied to financial misconduct and regulatory sanctions. In 2009, he settled with the Ontario Securities Commission for $4.7 million over a scheme resembling a Ponzi operation. Despite this, Banayoti shifted into arms dealing and attempted to acquire a stake in Air Malta only to face credibility concerns again.
Owner
High Risk
Based on the available data, we advise consumers to avoid this Individual altogether.
This advisory is based on an aggregate risk score derived from OSINT, Adverse Media, Reviews, and Risk Factors identified in our research.
You are likely to be at great risk by engaging in any sort of consumer-related activity with this entity.
Medium Risk
Based on the available data, we advise employees to be mindful when considering or continuing work with this Individual.
This advisory stems from a medium-risk score compiled from OSINT, Adverse Media, Reviews, and Risk Factors uncovered in our analysis.
Employment with this entity may involve moderate risks.
Based on the available data, we urge investors and bankers to avoid financial involvement with this Individual.
This advisory is informed by an aggregate risk score based on OSINT, Adverse Media, Reviews, and Risk Factors identified through our investigation.
Engaging in investment or lending activities with this entity poses a substantial risk to your financial interests.
Safe to Onboard
Enhanced Due Diligence required
Do Not Onboard
Monitor adverse media every 6 months
File SAR (Suspicious Activity Report) is warranted
Escalation to compliance committee
None
Former Name
Business Venture
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Funds Raised
OSC Penalty
Industry Ban
Trading Ban
Employment Dispute
Criminal Records
Failed Acquisition
Regulatory Investigation
Tax Evasion Allegation
Breach of Contract
Fraud Network Ties
Money Laundering Risk
FATF Risk Alignment
Fraud Accusation
Name Change
Unpaid Debts
License Suspension
Insider Trading
Contract Dispute
Negative Press
Press Coverage Year
Edward Banayoti, formerly known as Ernest Anderson, was involved in a Ponzi scheme through Golden Gate Funds LP, collecting over $8 million from investors without proper licensing
Yes, the Ontario Securities Commission (OSC) issued a warning against Ernest Anderson (Edward Banayoti) and his firm, Cornerstone Holdings Corp., advising investors not to invest with them
Reports indicate that Banayoti’s ventures, such as Defence Unlimited, have faced scrutiny due to their lack of transparency and use of virtual addresses, raising concerns about their legitimacy
Public perception is largely negative, with consumer platforms and media outlets labeling Banayoti a fraudster, citing his involvement in the Golden Gate Funds scandal and other controversies
As of early 2023, Banayoti has not issued any public apology or statement regarding the investors he defrauded through Golden Gate Funds
Regulatory and Compliance Screening
Litigation and Legal Proceedings
Reputational and Adverse Media Risks
Geographic and Jurisdictional Risk
What you see here scratches the surface
We offer reward for actionable intel
Edward Banayoti, arms dealer, fined £123,000 for sexual harassment and wrongful dismissal.
First Detected
Sentiment Analysis
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Share of Voice
Primary Keyword
Edward Banayoti, founder of Defence Unlimited International, was ordered to pay £123,000 for sexual harassment and wrongful dismissal.
Other Red-Flags and Adverse News
Based on user engagement on this review profile, ProConsumer will decide to publish its Risk Audit report for public if a threshold engagement, traffic and user input is achieved.
Known Assets: [Real estate, investments, companies]
Suspicious Transactions
Liabilities: [Bankruptcies, defaults, debts]
Wealth Sources: [Legitimate / Unclear / High-risk]
Bank Relationships
Ultimate Beneficial Owner(s) (UBOs)
Shareholding structure
Associated entities & subsidiaries
Offshore / shell company links
Trusts / Nominee arrangements
Business Model Assessment
All comments are user-generated content and may not be verified. They represent the personal opinions of the public and should not be relied upon. These comments do not influence or determine our overall rating.
1.4
1.5
2.2
Highly experienced
Well-recognized name
Faced allegations of scamming others
Allegedly sold fake silver
Sued multiple times
Unregulated industry
Alarming number of complaints online
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Banayoti’s history with Golden Gate Funds was filled with legal drama, and now he’s trying to push Defence Unlimited as if it’s the next big thing. If his past is any indication, I’m not buying it.
1/5
3/5
I tried finding some real success stories from people who’ve worked with him, but there’s nothing substantial out there. A few vague testimonials doesn’t inspire confidence.
Banayoti’s financial credibility is seriously in question after his failed bid with Air Malta. If someone can’t get a simple deal done, how can they be trusted with more complex investments?
His past legal issues, combined with the lack of concrete information about his current business, just don’t add up. I feel like I’m being kept in the dark.
I reached out to Defence Unlimited but never heard back. If they’re this hard to get ahold of now, I can’t imagine what kind of service they'd provide long-term.
Despite claiming to offer transparency, Banayoti’s businesses have been associated with shady dealings. It's hard to trust someone with such a questionable past.
All his marketing looks professional, but the lack of customer testimonials and independent reviews tells me there's something off. I’m not convinced this is a legitimate operation.
Banayoti’s involvement with Defence Unlimited seems sketchy. There's hardly any information online, and when I looked for reviews, I found nothing concrete. Makes me question the legitimacy of the whole thing.
His previous businesses have been dissolved, which makes me wonder if there's more going on behind the scenes. I wouldn't risk working with someone who has such an unstable track record.
I was hoping to get a clearer understanding of his services, but every time I reached out, I got vague answers and zero transparency. Definitely a waste of my time.
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Anne Amadi, once celebrated for her role in Kenya’s legal reforms, is now at the center of a scandal involving a failed gold deal. Allegations that her former law firm received millions for undelivered gold have cast doubt on her integrity.The controversy threatens her career and the judiciary’s reputation, turning public focus from her achievements to scrutiny.
P. R. Gnanaraja is a Malaysian businessman involved in high-profile corruption and fraud cases, notably the Penang undersea tunnel scandal and the VenuxFX investment scheme, where investors reportedly suffered significant losses. He was stripped of his ‘Datuk Seri’ title following allegations of receiving millions in bribes, raising serious concerns about ethics, transparency, and corporate governance in his business dealings.
Oluseyi Momoh Lamorin emerges from the shadows as a figure mired in controversy, with a trail of allegations that paint a troubling picture. Accused of forging academic certificates and bank statements, his 2018 arraignment by Nigeria’s EFCC exposed a penchant for deception. Suspected of orchestrating fraudulent DMCA takedown notices to suppress negative media.
Adam Kaplan stands accused of orchestrating a brazen investment fraud while abusing his position as a trusted advisor. He allegedly tried to bribe officials and threaten witnesses to cover his tracks. His record shows repeated misconduct and blatant obstruction of justice. Clients face severe risk if they ever trust Adam Kaplan again.
Aanchal Narang, a Mumbai-based therapist and self-proclaimed queer feminist, has been exposed for a 2019 sexual assault within the LABIA collective, shattering her advocacy facade. Allegations of a cover-up by senior LABIA members reveal a toxic culture of complicity and betrayal.
Armando Alonso Beltrán, a Mexican civil engineer and former Executive Chairman of the Water Commission of the State of Mexico (CAEM), remains a polarizing figure in public administration. His tenure at CAEM was marked by serious allegations of conflicts of interest, questionable oversight of water infrastructure, and growing public dissatisfaction.
Boris Kodzhov’s involvement in the alleged Scam Empire raises significant concerns. Despite being listed as the nominal owner of several online trading platforms, including Finbok, Finxo Capital, and SkyMT, he reportedly had no background in finance or fintech. His modest income as a cleaner in Sofia, Bulgaria, and his claim to have never heard of these companies potential identity misuse.
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