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2004

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Max Re sued over invalid insurance certificates

November 04, 2005 - Even in bankruptcy, the now defunct, fraudulently operated Stirling Cooke Brown Insurance group is causing chaos in the insurance industry.The latest Bermuda firm to be affected is Max Re Capital Limited, which is a defendant in a civil lawsuit concerning

Dominican Republic seeks extradition of Israeli national

November 04, 2005 - A 40 year old Israeli national who is charged with bribery, fraud and embezzlement in the Dominican Republic has been arrested in Miami after extradition proceedings were started against him.An extradition complaint was filed against Shlomo Ben Tov, a.k.a. Sam

SEC says LOM at epicenter of suspected fraud schemes

December 31, 2004 - Bermuda-based investment firm Lines Overseas Management and its two most senior officers "have been at the epicenter of at least two suspected fraudulent schemes", according to the U. S. Securities & Exchange Commission. Furthermore, LOM and brothers Scott and Brian Lines have done "everything possible to keep the SEC from getting to the bottom of it", claimed SEC attorney Michael Lowman at a U. S. court hearing.

Russia seeks evidence in US for tax fraud investigation into Probus

December 31, 2004 - Article based on an application to collect evidence for a criminal investigation into alleged tax fraud – pursuant to a request for judicial assistance from Russia – that was filed at federal court in the USA on December 6, 2004. Individuals and businesses mentioned in the request for assistance include Probus, Garley Group LLC, Richard Bell, Harvard Business Services Inc., Alexei Evgeniyevich Leuhin, Igor Iliych Chuvahin, Union Bank California International, European Clearing Bank LLC, and Lateko Bank.

Poland seeks evidence in the US for investigation into export fraud and money laundering

December 31, 2004 - Article based on an application to collect evidence for a criminal investigation into fraud and money laundering – pursuant to a request for judicial assistance from Poland – that was filed at federal court in the USA on December 13, 2004. Individuals and businesses mentioned in the request for assistance include Profit Service and Commerce, Witold Lila, Izabela Lila Legecka, M&M Agrobroker, Ignacy Soroka, AFC Agrico Food Polska, Tomasz Lila, Warszawskie Biuro Maklerskie, Agropolis LLC, Bankers Trust, Standard Chartered Bank, and Chase Manhattan Bank.

Mexico seeks evidence in Texas for narcotics trafficking investigation

December 31, 2004 - Article based on an application to collect evidence for a criminal investigation into alleged narcotics trafficking by Raul Leal Polito – pursuant to a request for judicial assistance fro Mexico – that was filed at federal court in the USA on December 23, 2004.

UK seeks evidence from Citibank for investigation into $5 m fraud

December 31, 2004 - Article based on an application to collect evidence for a criminal investigation into alleged fraud – pursuant to a request for judicial assistance from the United Kingdom – that was filed at federal court in the USA on November 24, 2004. Individuals and businesses mentioned in the request for assistance include Raymond Burraway, Mettrade Establishment, Patricia Francis, John Billington, Nicholas Webster, John Botros, Citibank, Bank of Nova Scotia, TTT Moneycorp, Ferick Smith, Christine Dixon, Curtis Samuel, and Verwaltungs-und Privat-Bank AG.

Peru seeks details of property in Florida as part of investigation into corruption by former Government

December 31, 2004 - Article based on an application to collect evidence for a criminal investigation into alleged fraud – pursuant to a request for judicial assistance from Peru – that was filed at federal court in the USA on December 8, 2004. Individuals and businesses mentioned in the request for assistance include Jaime Fernando Bellido Romero, Jose Fernando Bellido de Lama, Jose Enrique Crousillat Lopez Torres, Jose Francisco Crousillat Carreno, La Planicie Properties, SA, Nordali, SA, Team Corp. SA, and Santa Maria Properties.

Italy seeks evidence from Delaware-domiciled Biofine Inc. for fraud investigation

December 31, 2004 - Article based on an application to collect evidence for a criminal investigation into alleged fraud – pursuant to a request for judicial assistance from Italy – that was filed at federal court in the USA on December 6, 2004. Individuals and businesses mentioned in the request for assistance include Mario Granata, Anthony Di Napoli, Ferdinando Di Napoli, Ciro Di Napoli, Antonio Francavilla, Giovanni Esposito, Ciro Sannino, Marco Fiorentino, Vincenzo Fusco, Elvio Biondi, Le Calorie SRL, Pro-Fuel Corporation, Biofine Inc., Battle Memorial Institute, and Biometics Inc.

Arch Capital and AXIS Capital receive subpoenas

December 31, 2004 - Arch Capital Group and AXIS Capital Holdings both reported in December that they had been issued with subpoenas as part of industry-wide investigations by various U. S. authorities.

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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.