August 14, 2018 - Accountants Grant Thornton and law firms Cadwalader, Wickersham & Taft and Greene Espel are being sued for allegedly aiding and abetting a $150 million fraud perpetrated by the Providence Financial Group, which was primarily based in Guernsey, Miami, and Brazil.
August 06, 2018 - The court that hears international business disputes in the Cayman Islands is sealing records of liquidation petitions and other cases at unprecedented levels, meaning that foreign investors, creditors, and clients of Cayman-domiciled hedge funds and other companies are not alerted to insolvencies and other problems, OffshoreAlert can reveal. Secrecy has escalated to the point where more than half of all cases filed in recent months are sealed.
August 03, 2018 - The administrators of British firm Privilege Wealth Plc, which collapsed earlier this year after being exposed as a fraud by OffshoreAlert, have applied for recognition at federal bankruptcy court in the USA and identified several potential litigation targets.
July 26, 2018 - Arrest warrants in the United States for criminal contempt against British Virgin Islands-based asset recovery attorney Martin Kenney and Irish litigation funder Garrett Kelleher have been withdrawn.
July 23, 2018 - Offshore banker Adrian Baron, Chief Business Officer of Caribbean-based Loyal Bank, is in custody in New York after being extradited from Hungary to face fraud and money laundering charges.
July 23, 2018 - Three people were criminally charged in the United States over a 13-day period recently concerning two separate alleged investment frauds involving the Cayman Islands.
July 11, 2018 - Bermudian businessman Gregory Tolaram, Bahamas-based financial adviser Edward Lynch, and seven insurers and investment funds in the Cayman Islands have been accused of participating in a $135 million fraud against U.S. insurer Great Western Insurance Company.
June 26, 2018 - Two key components of a $40 million-plus investment fraud exposed by OffshoreAlert - Privilege Wealth One Limited Partnership and its general partner, Privilege Wealth Management Limited - have gone into liquidation in Gibraltar.
June 22, 2018 - In further bad news for investors in the failed Privilege Wealth investment scam, the company that purportedly insured investors' capital was today compulsorily struck off Guernsey's corporate register.
June 14, 2018 - Zachary Zanghi, the New York-based business partner of British investment advisor Benjamin Alderson, who was recently accused of securities fraud by the U.S. Securities and Exchange Commission, was himself involved in impropriety a few years ago for which he was fired by Citigroup, OffshoreAlert can reveal.
