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

eMail Alerts  

Sign-Up for eMail Alerts

RSS Feed  

Subscribe to feed

Ian Lomas sues Alex Bodden in RSM Cayman shares dispute

November 17, 2015 - Alex Bodden, Managing Partner of Cayman Islands-based audit, accounting and business advisory firm RSM Cayman Ltd. is being sued for US$600,000 in damages by former business partner Ian Lomas.

OffshoreAlert to start publishing copies of Bermuda Supreme Court writs

November 14, 2015 - Starting next month, OffshoreAlert will start publishing copies of all publicly-available writs of summons filed at Bermuda Supreme Court. We are able to do so following a "Practice Direction" entitled "Access to Court Records in Civil Cases" issued by Bermuda's Chief Justice, Ian Kawaley, on November 12th.

US judge again slams SEC for causing closure of Cayman's Caledonian Bank

November 10, 2015 - A federal judge in New York has again chastised the United States Securities and Exchange Commission for causing the collapse of Cayman Islands-based Caledonian Bank Ltd. "This case offers fertile ground for agency self-examination," stated U. S. District Judge William H. Pauley III in a pre-trial opinion today.

US indicts 7 for alleged $20 m fraud involving Bermuda 'reinsurer'

September 25, 2015 - Seven people have been criminally indicted in the United States for an alleged securities fraud involving purported reinsurer Gerova Financial Group - a former Cayman Islands firm that moved to Bermuda - that brought them nearly $20 million in profits.

Anguilla regulator suspends Drake Incubator PCC after OffshoreAlert exposé

September 23, 2015 - Anguilla-based mutual fund vehicle Drake Incubator PCC - which is controlled by BVI-based Drake Fund Advisors and the Osiris Group - has been suspended from providing any licensed services to its only sub-fund - GRRE Investment Fund - after OffshoreAlert exposed one of GRRE's directors, who is part of Belvedere Management Group's global criminal financial enterprise.

Cayman hedge fund added as defendant to $100 m hacking lawsuit

September 22, 2015 - A Cayman Islands hedge fund - Copperstone Alpha Fund - and its manager have been added as defendants to a lawsuit by the U. S. Securities and Exchange Commission against a group that allegedly hacked newswire services and profited by more than $100 million in insider trading.

Two more Belvedere fund vehicles closed down by Mauritius regulator

September 20, 2015 - Two more Belvedere Management Group investment vehicles - The Two Seasons PCC and Venture Assets PCC - have been closed down by the Financial Services Commission in Mauritius.

Cayman regulator applies to liquidate Belvedere's Brighton SPC, cites 'fraud'

September 14, 2015 - Nearly six months after an OffshoreAlert exposé, the Cayman Islands Monetary Authority has petitioned to wind up Belvedere Management Group investment vehicle Brighton SPC, citing evidence of fraud "from inception" in which at least US$83 million of investors' funds has disappeared.

US taxpayers challenge Cayman's decision to cooperate with IRS tax fraud investigation

August 30, 2015 - Cayman Islands residents Norwin Lee Aronfeld and his wife, Sheila Aronfeld - who are both U. S. taxpayers - are challenging the legality of a decision by the Cayman Islands Tax Information Authority to provide evidence to the U. S. Internal Revenue Service for a criminal investigation into them for suspected tax evasion.

SEC & Caledonian Bank agree to 'settlement in principle'

August 26, 2015 - An "agreement in principle" has been reached to settle litigation at federal court in Manhattan between the U. S. Securities and Exchange Commission and Cayman Islands-domiciled Caledonian Bank Ltd. and affiliate Caledonian Securities Ltd.
OffshoreAlert Conference London 2015

OffshoreConnect Free Sign Up

Stay informed & connected

  • Free Email Alerts on Breaking News
  • Free Access to Blogs by Industry Leaders
  • Free Contribute to Due Diligence Forums
DOJ Scores Big With Record-breaking Alstom FCPA Sentence -- Who's Next On the DOJ'S FCPA Hit List?
Eric Havian
By   Gordon Schnell      Late Friday, French power and transportation company Alstom S.A. was sentenced to pay a $772 million fine for violating the Foreign Corrupt Practices Act (FCPA) through its payment of millions of dollars in secret bribes to government officials across the gl