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Saudi giants defrauded over 100 banks, Cayman court finds
David Marchant
Posted: Thursday, May 31, 2018
Joined: 9/13/2007
Posts: 1232


Daily Telegraph: A complex family feud which stemmed from one of the largest corporate collapses of the credit crunch has been thrown out of courts in Cayman, which ruled that the two companies involved had instead systematically defrauded banks.

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Cayman Court Secrecy: A Huge Red Flag for Foreign Investors & Clients
David Marchant
As any fule kno, the biggest enemy of fraud, corruption, money laundering, and other forms of financial crime is transparency, while their best friend is secrecy. That's why the unprecedented mass sealing of cases that's taking place at the Financial Services Division of the Grand Court of the Cayman Islands is repugnant to anyone with a genuine concern for financial crime.