OffshoreAlert
Daily news, documents and intelligence about Offshore Financial Centers and those who conduct business in them that you will not find anywhere else.

Argentum Fraudster Duane McGaw Resurfaces As Vancouver Restaurant Owner

When you're one of the principal perpetrators of an investment fraud totaling £98 million, of which at least £11 million was apparently diverted for your benefit, it's best to keep a low profile until the heat dies down and the liquidators have given up the chase.So what on earth was Argentum/Centaur Group litigation funding fraudster Duane McGaw thinking when he agreed to be photographed and interviewed for a magazine article about a fancy new restaurant he is preparing to open in Vancouver?The story about the scheduled opening next month of McGaw's new Japanese restaurant 'Q Shi Q' was...

'Our bank is licensed by the Pentagon' - An Interview With Two Fraudsters

It's not often that you get to hear conmen in action. Today you do. Click on the play button above to listen to a telephone interview that I conducted on July 2nd with Sam Zumbe and Jean-Philippe Grange, who have been trying to further swindle victims of a '5% per month' investment fraud conducted by London-based CWM via a BVI shell company, with funds going into a Cayman Islands bank. I'm on the left in the image, Zumbe is on the right.Using a combination of bluster (Zumbe) and charm (Grange), they try to persuade me that their Delaware-domiciled paper entity, Newport Enterprises Group...

Bermuda's Secretive Court System: Time to Emerge from the Dark Ages

Bermuda prides itself on being one of the most advanced, best-run offshore jurisdictions in the world. In many respects, that boast is deserved.However, in one key area, Bermuda is so far behind the times, it's embarrassing, with the jurisdiction long ago overtaken not only by all of its major offshore rivals like Cayman and the BVI but even unsophisticated jurisdictions that Bermuda looks down on, such as Grenada and Antigua.That area is Litigation Transparency or, in Bermuda's case, lack thereof.Members of the public are entitled to no documentation whatsoever when a civil lawsuit is...

Cayman Gov't in third-world attack on local newspaper

As someone who was thrown out of Bermuda in 1996 for no other reason than being an investigative journalist (or 'a nuisance', as the occupation is known locally), I'm well aware of how sensitive small countries are to criticism. Their economies are fragile and journalists are expected to be part of a jurisdiction's promotional effort, more than a purveyor of truth. The message to foreign workers is clear: If you don't like it, clear off. Over the weekend, the publisher of Cayman's daily newspaper, United States national David Legge, did indeed 'clear off', at least temporarily, flying...

FIFA Indictments Vindicate OffshoreAlert's 2010 Conference

Allegations of fraud, bribery and money laundering in indictments against 14 individuals associated with soccer's world governing body FIFA unsealed last week would have come as no surprise to attendees of OffshoreAlert's annual conference in Miami Beach … way back in 2010.In a session entitled 'Corruption in Soccer – The Secret World of FIFA: Bribes, Vote-Rigging and Ticket Scandals', investigative journalist Andrew Jennings talked at length about the scams that, years later, would form the basis of the indictments. Indeed, five of the 14 individual defendants were featured...

Cayman attorney Michael Wingrave & client Jazeb Jones demonstrate how not to deal with the media

After my blog last year entitled "A Message to Greg Fairley, Ashley Hurst & Anyone Else Thinking of Threatening Me', I didn't think any lawyer-client duo would be stupid enough to repeat the mistake of needlessly threatening to sue me and OffshoreAlert. I should have known better.  The latest candidates for 'numbnuts of the year' are Cayman attorney Michael Wingrave, who's a minion with nondescript local law firm Dinner Martin, and his client, Jazeb Jones, who approximately five days ago became unemployed after departing DMS Bank & Trust in the Cayman Islands, of which he was Managing...

Buttonwood Fraud Victims: Time to Kick Out The Clowns

Investors in the litigation funding criminal enterprise known as Buttonwood Legal Capital, Centaur Litigation and Argentum need to kick out the clowns who are managing the different facets of this hopelessly insolvent group and take control of the situation before it gets even more out of hand. The Australia-based controllers of Buttonwood and Centaur - Stuart Hackett, Simon Franklin and Klaus Selinger, at least two of whom were appointed by fraudster Brendan Terrill - repeatedly told investors in late May and early June that liquidation petitions had been filed against three Centaur...

Axiom Case Exposes Dysfunctional English Court System

British authorities rarely fail to disappoint me by demonstrating how third world their country is whenever I try to obtain information for an investigation into financial wrongdoing. Incompetence, inefficiency, ignorance, unhelpfulness, and painstaking slowness are what I have come to expect over the years. Yes, there are some exceptions, but normally the process is like pulling teeth, where civil servants go out of their way to avoid providing information I am legally entitled to. It's as if they take pride in being obstructionist and useless. It's the British way - and I say that as...

Lester Turnquest fails to have 'fraud & murder' video removed from YouTube

Bahamas-based businessman Lester Turnquest has failed in his attempt to have one of OffshoreAlert's video recordings removed from YouTube. The recording explores allegations that Turnquest stole approximately $20 million from a Canadian offshore client and then, as part of a cover-up, ordered the murder of Turnquest's former business partner, British national Hywel Jones, who, at the time, was suing Turnquest over the alleged theft. The recording was of a presentation that I and Hywel's brother, Illtyd Jones, made at The OffshoreAlert Conference held in Miami Beach, Florida earlier this...

Axiom Fraud Victims: Watch how some of your money was squandered

As a video entitled "Tim & Claire Highlights" shows [video hurriedly removed from Vimeo after publication of this blog, see Footnote], British fraudster Timothy Schools liked nothing better than to 'play the big man' with the tens of millions of pounds that he swindled from investors in Axiom Legal Financing Fund from 2009 to 2012. Taken on March 19, 2011, the video shows Schools entertaining his family, friends, and associates to champagne and fine-dining at a luxury ski hotel in the French Alps that he owned - all bought and paid for by Axiom's cheated investors, of course. The...

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