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BVI regulator applies to liquidate Crescent Corporate Services

February 02, 2016 - The British Virgin Islands Financial Services Commission has applied to liquidate Crescent Corporate Services Limited "in the public interest".

AMS Insurance warned for 'obstructing' BVI regulatory investigation

January 23, 2016 - BVI-based AMS Insurance Management Services has been warned by the BVI Financial Services Commission for "obstructing" an investigation into one of its foreign clients, one of ten enforcement actions by the regulator during November - making it one of its busiest ever months.

WalwynLaw license revocation latest in flurry of Nevis regulatory activity

January 18, 2016 - Nevis-based WalwynLaw has had its license to act as a registered agent revoked - ten days after the law firm's principal, Leonora Walwyn, was arrested and criminally charged with forgery and fraud. It's the latest in a slew of regulatory and criminal actions over the last 17 months against attorneys and other professional service providers operating in Nevis, whose population is just 12,000.

Panama broker Verdmont Capital goes into liquidation

January 13, 2016 - Panama-based broker-dealer Verdmont Capital has become the latest offshore defendant in a securities fraud lawsuit filed by the U. S. Securities and Exchange Commission to go into liquidation.

Butterfield Bank (Cayman) sued for $900,000 by swindled client

December 27, 2015 - After a similar action against it was dismissed in Texas on jurisdictional grounds, Butterfield Bank is being sued for alleged negligence in the Cayman Islands by one of its account-holders - a captive insurer which claims to be out-of-pocket by more than US$900,000 due to a fraud perpetrated by Cayman-based insurance manager David Self.

Caledonian Bank to pay 'nothing' in SEC settlement

December 18, 2015 - The SEC's fraud lawsuit against Cayman Islands-based Caledonian Bank has gone from bad to worse for the U. S. regulator, with two of the agency's main attorneys on the case leaving following criticism from a federal judge and an agreed settlement between the parties requiring the bank to make "no monetary payment".

Fraudster Rani Jarkas' Cedrus Investments sues Indonesian clients for $2.1 m

December 10, 2015 - Cayman Islands-domiciled Cedrus Investments Ltd., which is controlled by securities fraudster Rani Jarkas, is suing two Indonesian clients - Harun Abidin and Tata Artha Group - for the return of $2.1 million in alleged unpaid margin loans.

Centaur Litigation fraudster Brendan Terrill imprisoned over 'indecent images of children'

November 29, 2015 - Brendan Terrill, 50, who was one of the masterminds of a litigation funding fraud that collapsed last year after being exposed by OffshoreAlert, has been imprisoned in Britain after pleading guilty to sharing "indecent images of children" over the Internet.

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.
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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