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

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...

Axiom Fund: Investors making one mistake after another

Investors in Axiom Legal Financing Fund have until Wednesday to try to block the appointment of KPMG's Kris Beighton and John Milsom as Receivers. Once KPMG is ensconced, it will be extremely difficult, perhaps impossible, to have them removed. For investors, it's time to put up or shut up. According to someone who attended Axiom's Extraordinary General Meeting in London on December 11, investors were informed that, since appointing KPMG in mid-October to investigate OffshoreAlert's allegations against Axiom and its investment manager, Tangerine Investment Management, Axiom's...

Fraudster Tim Schools turns to a reprobate's best friend - British libel law

Today's libel complaint by Axiom Legal Financing Fund fraudster Timothy Schools against me and OffshoreAlert at the U.K. High Court is as predictable as it is ineffective. In 2010, U. S. President Barack Obama signed into law The SPEECH Act, which renders British libel judgments unenforceable in the United States on the grounds that British libel law is "repugnant", which is a view shared by many people around the world, particularly journalists. The libel law that the United Kingdom has vomited on its current and former colonies is one of the most repulsive pieces of legislation...

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