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Antigua's Ambassador to Spain banned as director & officer in Labuan

June 06, 2019 - London-based Swiss attorney Dario Item, who serves as Antigua and Barbuda's Ambassador to Spain, Monaco, and Liechtenstein, has been disqualified and removed from acting as a director and officer of Blue Investment Bank and Blue Wealth Management in Labuan.

Petters Group fraud investors sue General Electric for $215M in Cayman

May 30, 2019 - Illinois-based hedge fund operator Ritchie Group has filed a Petters Group-related complaint in the Cayman Islands against Boston-based General Electric Company - three years after a similar action was dismissed in the United States.

Irish conman Mark Nichols and Almas Capital Management settle NFA action

May 30, 2019 - Irish conman Mark Nichols and his commodity trading advisor Almas Capital Management - who were exposed by OffshoreAlert 13 months ago - have settled a regulatory action brought against them by the National Futures Association in the United States.

Cayman law firm sues TCI counterpart for $70K

May 29, 2019 - Cayman Islands law firm Hampson and Company is suing Turks and Caicos Islands law firm Karam & Missick for $70,000 regarding the representation of an unidentified "mutual client".

Platinum Partners founder sued by Cayman Islands feeder funds

May 14, 2019 - The liquidators of two feeder funds for the fraudulently-operated Platinum Partners Value Arbitrage Fund have filed a lawsuit in the Cayman Islands against the group's founder, Mark Nordlicht, and others.

Axiom Legal Financing Fund fraudster David Rae arrested in US for 'money laundering'

April 22, 2019 - U.K. national David Rae, who in 2012 was exposed by OffshoreAlert as one of the main perpetrators of a £100 million investment fraud by Cayman Islands-domiciled Axiom Legal Financing Fund, is in custody in New Jersey after being indicted for money laundering twice in two days in separate US jurisdictions regarding alleged healthcare fraud schemes.

Privilege Wealth look-alike C-Tech Financial seeks millions from investors

April 16, 2019 - British businessmen who fronted a failed attempt to keep the collapsed Privilege Wealth investment scheme going under another name in 2017 after it was exposed by OffshoreAlert have launched a look-alike in Florida and England, C-Tech Financial. They are Keith Harris, who is Deputy Chairman of Everton Football Club, and Andrew MacKenzie, who once ran the image rights firm of British politician and Olympic champion Sebastian Coe.

KPMG Bermuda & MD fined by US auditor regulator

April 15, 2019 - KPMG Bermuda and its Managing Director, Damion Henderson, have been fined and censured by the U.S. Public Company Accounting Oversight Board, which regulates auditors of public-traded companies.

NFA accuses Irishman Mark Nichols & Almas Capital of failing to cooperate with investigation

February 26, 2019 - The National Futures Association in the U.S. has issued a complaint against 56-year-old Irish conman Mark Nichols and his commodity trading advisor Almas Capital Management LLC for allegedly failing to cooperate with an NFA investigation into what appears to be an advance fee fraud - eight months after they were exposed by OffshoreAlert.

Apex Fund Services sued over '$10M fraud' against Silk Road M3 Fund

February 24, 2019 - Apex Fund Services, its CEO, Peter Hughes, and investment firms in the Cayman Islands and Mongolia are being sued in Bermuda regarding an alleged $10 million fraud perpetrated by 46-year-old, New York-based investment manager Alisher Ali Djumanov.

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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.