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

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Corporation of Hamilton v. Arbitrade Properties (Victoria Holdings) Ltd.: Statutory Demand Notice

June 16, 2020 - Statutory Demand Notice by The Corporation of Hamilton, of Bermuda, to Arbitrade Properties (Victoria Holdings) Ltd., of Bermuda.

The Optimum Retirement Benefit Plan: Report (June 2020)

June 02, 2020 - Report by Dalriada Trustees Limited regarding The Optimum Retirement Benefit Plan, of the United Kingdom. Editor's Note: The Plan was involved in what is known as a 'pensions liberation fraud'.

David Mapley Response to Luxembourg CSSF Ban

May 26, 2020 - News Release by David Mapley in response to administrative measure against him by the Luxembourg CSSF.

LFP I SICAV SIF SA: Shareholder Letter (April 29, 2020)

April 29, 2020 - Letter to Shareholders of LFP I SICAV SIF S.A. by David Mapley and Tudor Fedeles, who are seeking to recover assets for investors, alleging fraud.

Swan Developments Management Ltd.: Winding-Up Order

March 30, 2020 - Notice of Court Order in a Winding-Up filed by Swan Developments Management Limited with Companies House in Britain.

Union Bancaire Privée: Non-Prosecution Agreement Addendum

January 02, 2020 - Addendum to Non-Prosecution Agreement under the U. S. Department of Justice's 'Swiss Bank Program' in USA v. Union Bancaire Privée.

USA v. Coutts & Co. Ltd.: Non-Prosecution Agreement Addendum

December 20, 2019 - Addendum to Non-Prosecution Agreement under the U. S. Department of Justice's 'Swiss Bank Program' in USA v. Coutts & Co. Ltd.

First Global Credit: Domain Seizure

November 01, 2019 - Announcement on the website of Switzerland-domiciled cryptocurrency exchange operator XBT Corp. Sarl, d.b.a. First Global Credit, at www.firstglobalcredit.com that the domain name has been seized by the Federal Bureau of Investigation, of the United States. XBT Corp. is controlled and operated by Gavin John Smith and Marcie Debra Terman, both citizens of the United Kingdom.

David Marshall: Booking Photo & Court Docket

October 08, 2019 - Booking Photo & Court Docket for David Marshall, a British attorney who is a partner with Maples and Calder law firm in the Cayman Islands, following his arrest on suspicion of domestic assault in Miami Beach, Florida, on October 5th, 2019.

Sergey Magnitsky et al v. Russia: News Release & Judgment

August 27, 2019 - News Release & Judgment in Sergey Magnitsky, deceased, an auditor charged with tax evasion regarding USA-born, London-based hedge fund principal Bill Browder; Magnitsky's widow, Nataliya Zharikova, and his mother, Natalia Magnitskiya v. The Government of Russia at the European Court of Human Rights. The Court ordered Russia to pay €34,000 in damages to Magnitsky's wife and mother for Magnitsky's "ill-treatment" in prison. The Court appeared to reject Browder's claim that Magnitsky was detained and killed for blowing the whistle on alleged fraud by Russian officials, determining that "the enquiry into alleged tax evasion which had led to Mr Magnitskiy's arrest had begun long before he had complained of fraud by officials. The decision to arrest him had only been made after investigators had learned that he had previously applied for a UK visa, had booked tickets to Kyiv, and had not been residing at his registered address. Furthermore, the evidence against him, including witness testimony, had been enough to satisfy an objective observer that he might have committed the offence in question. The list of reasons given by the domestic court to justify his subsequent detention had been specific and sufficiently detailed. The Court thus rejected the applicants’ complaint about Mr Magnitskiy’s arrest and subsequent detention as being manifestly ill-founded."

We hunt for red flags in high-value, cross-border finance by monitoring offshore and onshore courts, regulatory actions, offering documents, and other sources - and email you the results.

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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.