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Simon Hooper pleads guilty to fraud in England

September 16, 2020 - United Kingdom national Simon Hooper has pleaded guilty to three counts of fraud involving British firm Rationale Investments Limited, which purports to be a property investment firm.

Unikrn settles SEC action regarding $31M 'unregistered' Bermuda crypto sale

September 15, 2020 - Seattle-based online sports gaming operator Unikrn Inc. has agreed to pay a fine of $6.1 million to settle an administrative action by the SEC alleging it raised $31 million through the sale of unregistered securities by its Bermuda subsidiary in the form of digital tokens.

Cayman crypto exchange Binance sued for 'laundering $9M Japan theft proceeds'

September 14, 2020 - Cayman Islands-domiciled cryptocurrency exchange Binance Holdings Limited is being sued in California for allegedly laundering more than $9 million of cryptocurrency stolen from a Japanese exchange.

Platinum Partners liquidators sue BDO in the Cayman Islands

September 03, 2020 - The liquidators of an offshore hedge fund and a "pass-through" tax vehicle that were part of the failed $1 billion U.S.-based Platinum Partners investment group have sued the Cayman Islands and New York operations of auditor BDO.

BVI firm charged with money laundering in 'scheme to help North Korea bypass US sanctions'

August 31, 2020 - British Virgin Islands-domiciled commodities trader Yang Ban has been criminally charged with money laundering in the U.S. regarding an alleged scheme to bypass sanctions with North Korea.

Fraud charges brought against three Axiom Legal Financing Fund insiders

August 21, 2020 - Three UK nationals - Timothy Schools, Richard Emmett, and David Kennedy - have been criminally charged with fraud over their involvement with Cayman Islands-domiciled Axiom Legal Financing Fund, whose £100 million litigation funding-based investment scam collapsed after being exposed by OffshoreAlert eight years ago.

Despite fraud charges, Briton Simon Hooper becomes director of 8 British firms

August 19, 2020 - Undeterred by fraud charges on which he is due to be tried in England next month, U.K. national Simon Hooper, who is part of an international gang of serial fraudsters previously exposed by OffshoreAlert, recently became a director of eight British firms.

Angola's central bank sues two Cayman funds for allegedly misappropriating $25M

August 05, 2020 - Banco Nacional de Angola, which is the African country's government-owned central bank, has accused two Cayman Islands investment funds - Quantum Global Opportunities Fund SP and Refund Emerging Market Fund SP - of misappropriating $25 million.

Released from prison, British fraudster now operates under new name (Sencer Orhan)

August 04, 2020 - Notorious British fraudster Sencer Sevket has changed his name after being released from prison and seemingly gone into business with a member of the ruling family in Abu Dhabi, OffshoreAlert can reveal.

Cryptocurrency group Arbitrade sued in Bermuda for 'unpaid rates'

July 22, 2020 - Fraudulent cryptocurrency group Arbitrade, which purchased a seven-floor office building in Bermuda in 2018 that it has apparently never occupied, is being sued for $168,101 in allegedly unpaid "rates" by the municipal government that administers the jurisdiction's capital city of Hamilton, where the property is located.

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.