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Alger II Dynamic Opportunities Fund - Weatherbie Capital et al v. Stamps.com Inc. et al: Complaint

July 29, 2021 - Complaint alleging securities fraud in Alger II Dynamic Opportunities Fund - Weatherbie Capital; Alger SICAV - Alger Dynamic Opportunities Fund - Weatherbie Capital; Alger SICAV - Alger Small Cap Focus Fund; Alger SICAV - Alger Weatherbie Specialized Growth Fund; Alger Small Cap Focus Fund; Alger Weatherbie Specialized Growth Fund; Alger Weatherbie Specialized Growth Portfolio; Weatherbie Growth Fund L.P.; and Weatherbie Long/Short Fund, L.P. v. Stamps.com Inc., Kenneth McBride, Kyle Huebner, and Jeff Carberry at the U. S. District Court for the Central District of California.

Northlight European Fundamental Credit Fund et al v. Intralot Capital Luxembourg SA et al: Complaint

July 28, 2021 - Complaint in Northlight European Fundamental Credit Fund, HCN LP, and Bardin Hill Event-Driven Master Fund LP, all of the Cayman Islands v. Intralot Capital Luxembourg SA, of Luxembourg; Intralot SA, of Greece; Intralot Global Holdings BV, of the Netherlands; Intralot Inc., of Georgia, USA, and Intralot US Securities BV, of the Netherlands, at the U. S. District Court for the Southern District of New York.

Belgium FPSF v. AOI Pension Plan et al: '€5.9M Tax Fraud' Complaint

July 27, 2021 - Complaint for €5.9 million alleging "a fraudulent scheme that caused FPSF Belgium to pay large amounts of money to putative entities in the United States claiming to be owed tax refunds relating to corporate dividends" in Kingdom of Belgium Federal Public Service Finance v. AOI Pension Plan, of New York; Adam LaRosa, of New Jersey; Matthew Stein, of New York; FGC Securities LLC, of New York, and Stephen Wheeler, of New Jersey, at the U. S. District Court for the Southern District of New York.

Belgium FPSF v. Delvian LLC Pension Plan et al: '€6.3M Tax Fraud' Complaint

July 27, 2021 - Complaint for €6.3 million alleging "a fraudulent scheme that caused FPSF Belgium to pay large amounts of money to putative entities in the United States claiming to be owed tax refunds relating to corporate dividends" in Kingdom of Belgium Federal Public Service Finance v. Delvian LLC Pension Plan, of New York; Alicia Colodner, of New York; Richard Markowitz, of New York; John van Merkensteijn, of New York; FGC Securities LLC, of New York, and Stephen Wheeler, of New Jersey, at the U. S. District Court for the Southern District of New York.

Belgium FPSF v. Michelle Investments LLC Pension Plan et al: '€6M Tax Fraud' Complaint

July 27, 2021 - Complaint for €6 million alleging "a fraudulent scheme that caused FPSF Belgium to pay large amounts of money to putative entities in the United States claiming to be owed tax refunds relating to corporate dividends" in Kingdom of Belgium Federal Public Service Finance v. Michelle Investments LLC Pension Plan, of New York; Richard Markowitz, of New York; John van Merkensteijn, of New York; FGC Securities LLC, of New York; Alicia Colodner, of New York, and Stephen Wheeler, of New Jersey, at the U. S. District Court for the Southern District of New York.

Belgium FPSF v. Ganesha Industries Pension Plan et al: '€6.8M Tax Fraud' Complaint

July 27, 2021 - Complaint for €6.8 million alleging "a fraudulent scheme that caused FPSF Belgium to pay large amounts of money to putative entities in the United States claiming to be owed tax refunds relating to corporate dividend" in Kingdom of Belgium Federal Public Service Finance, which is Belgium's tax collection agency v. Ganesha Industries Pension Plan, described as a New York-based "trust recognized by the U.S. Internal Revenue Service"; Adam LaRosa, of New Jersey; Jerome L'Hote, of New York; FGC Securities LLC, of New York, and Stephen Wheeler, of New Jersey, at the U. S. District Court for the Southern District of New York.

Belgium FPSF v. Xiphias LLC Pension Plan et al: '€7.9M Tax Fraud' Complaint

July 27, 2021 - Complaint for €7.9 million alleging "a fraudulent scheme that caused FPSF Belgium to pay large amounts of money to putative entities in the United States claiming to be owed tax refunds relating to corporate dividends" in Kingdom of Belgium Federal Public Service Finance, which is Belgium's tax collection agency v. Xiphias LLC Pension Plan, described as a New York-based "a trust recognized by the U.S. Internal Revenue Service"; Richard Markowitz, of New York; Matthew Stein, of New York; John van Merkensteijn, of New York; FGC Securities LLC, described as being domiciled in Delaware and based in New York; Alicia Colodner, of New York, and Stephen Wheeler, of New Jersey, at the U. S. District Court for the Southern District of New York.

Belgium FPSF v. Traden Investments Pension Plan et al: '€6.3M Tax Fraud' Complaint

July 27, 2021 - Complaint for €6.3 million alleging "a fraudulent scheme that caused FPSF Belgium to pay large amounts of money to putative entities in the United States claiming to be owed tax refunds relating to corporate dividends" in Kingdom of Belgium Federal Public Service Finance, which is Belgium's tax collection agency v. Traden Investments Pension Plan, described as a New York-based "trust recognized by the U.S. Internal Revenue Service"; Adam LaRosa, of New Jersey; FGC Securities LLC, described as being domiciled in Delaware and based in New York, and Stephen Wheeler, of New Jersey, at the U. S. District Court for the Southern District of New York.

Belgium FPSF v. Lion Advisory Inc. Pension Plan et al: '€6.5M Tax Fraud' Complaint

July 27, 2021 - Complaint for €6.5 million alleging "a fraudulent scheme that caused FPSF Belgium to pay large amounts of money to putative entities in the United States claiming to be owed tax refunds relating to corporate dividends" in Kingdom of Belgium Federal Public Service Finance, described as Belgium's tax collection agency v. Lion Advisory Inc. Pension Plan, described as a New York-based "trust recognized by the U.S. Internal Revenue Service"; Richard Markowitz, of New York; Luke McGee, of Philadelphia, Pennsylvania; John van Merkensteijn, of New York; FGC Securities LLC, described as being domiciled in Delaware and based in New York, and Stephen Wheeler, of Shrewsbury, New Jersey, at the U. S. District Court for the Southern District of New York.

Kai Jochims v. Oatly Group AB et al: Class Action Complaint

July 26, 2021 - Class Action Complaint alleging securities fraud in Kai Jochims v. Oatly Group AB, described as a Swedish company that "describes itself as the world's original and largest oatmilk company"; Toni Petersson, Christian Hanke, Fredrik Berg, Steven Chu, Ann Chung, Bernard Hours, Hannah Jones, Mattias Klintemar, Po Sing (Tomakin) Lai, Eric Melloul, Björn Öste, Frances Rathke, Yawen Wu, and Tim Zhang at the U. S. District Court for the Southern District of New York.

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.