March 04, 2014 - Cayman Islands-based CMZ Group, whose operations include pawn shops throughout the Caribbean, has accused its former managing director and 50% owner, Dave Clark, of swindling it out of approximately $7.5 million.
February 24, 2014 - After being suspended on Friday, the shares of London-based litigation fund Argentum Capital Ltd. were today de-listed from the Channel Islands Securities Exchange. The move follows last week's OffshoreAlert exposé of ACL as being part of a £90 million Ponzi scheme.
February 22, 2014 - The Channel Islands Securities Exchange yesterday suspended the listing of London-based Argentum Capital Ltd. - three days after OffshoreAlert exposed the litigation fund as part of a £90 m Ponzi scheme headed by Briton Brendan Terrill, who operates Cayman-domiciled Centaur Litigation and Hong Kong-domiciled Buttonwood Legal Capital.
February 18, 2014 - London-based litigation fund Argentum Capital, whose shares are listed on the Channel Islands Securities Exchange and whose chairman is retired British judge David Keene, is being financed by what appears to be a £90 m Ponzi scheme headed by Briton Brendan Terrill and involving the BVI, Cayman Islands, Hong Kong, Jersey, Singapore, Thailand and other jurisdictions, OffshoreAlert can reveal.
February 07, 2014 - Cayman Islands-based fraudster Rani Jarkas - whose dishonest conduct and that of his attorney, Michael Alberga, was previously exposed by OffshoreAlert - has been barred from the securities industry in the United States.
February 03, 2014 - Missouri-based charity The Marvin M. Schwan Charitable Foundation has written off loans totaling $250 m that helped build The Ritz-Carlton, Grand Cayman hotel and residences development in the Cayman Islands. The amount was one-third of the charity's total assets.
January 28, 2014 - British attorney Timothy Schools and entities he wholly or partly beneficially owned received £81 million of the £108 million that was swindled from investors in Cayman Islands-domiciled Axiom Legal Financing Fund, the Fund's Receivers have claimed in an amended complaint filed at the High Court in London.
January 16, 2014 - Filings at Bermuda Supreme Court on Tuesday suggest that U.S.-based computer giant Microsoft Corporation is being investigated for suspected tax offenses involving three offshore subsidiaries, Flat Island Company, Round Island One, and RI Holdings.
January 13, 2014 - Bermuda's Minister of Finance has made six applications to Bermuda Supreme Court already this year for orders requiring local companies to produce records for foreign tax investigations. The respondents are Appleby (Bermuda) Ltd., ADG Absolute Diversified Growth Fund Ltd., Firstmark Ltd., The Boston Trust Company Ltd., c/o Codan Trust Company Limited; RUBiS Energy Bermuda Ltd. and RUBiS Bermuda Ltd.
January 08, 2014 - Royal Bank of Canada has been accused by the United States Commodity Futures Trading Commission of failing to produce a key witness - senior officer Richard Chase - to an alleged fraud by the bank involving its operations in several jurisdictions, including the Bahamas and Cayman Islands.