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$150M lawsuit alleges crypto fraud by parties in Antigua, BVI, Hong Kong & US

November 04, 2019 - A complaint for damages of $150M for alleged cryptocurrency futures trading fraud and the operation of an unlicensed money transmitting business has been filed against individuals and companies in Antigua, British Virgin Islands, Hong Kong, and the United States, including Alameda Research and FTX Trading.

US acts against Swiss crypto exchange First Global Credit, now operating as PanXora

November 01, 2019 - Law enforcement and regulators in the US have taken action against Swiss cryptocurrency exchange First Global Credit, which is controlled by Britons Gavin Smith and Marcie Terman and now operates as PanXora, which claims to have affiliates in the Bahamas, Cayman Islands, Gibraltar, Singapore, and UK.

Briton Simon Hooper charged with fraud - 4 years after being exposed by OffshoreAlert

October 30, 2019 - Briton Simon Hooper, who was exposed as a fraudster by OffshoreAlert four years ago, has been charged with fraud in England regarding his latest firms, Rationale Asset Management Plc and Rationale Investment Ltd.

Non-attorney Paul Bilzerian banned from representing sons at Saint Kitts High Court

October 28, 2019 - Paul Bilzerian - who moved to the Caribbean after being jailed and fined $62 million for securities fraud in the United States - has been barred from representing his sons - Dan and Paul Bilzerian - in civil proceedings at Saint Kitts and Nevis High Court.

US taxpayer admits fraud involving 'offshore Swiss insurance wrapper'

October 24, 2019 - A 74-year-old U.S. citizen faces up to 18 months in prison for failing to report $1.4 million in income that he earned from an "offshore Swiss 'insurance wrapper' policy".

Fraud alleged in €79M 'security token' dispute between Russian-owned, Cayman firms

October 22, 2019 - Russian-owned Cayman Islands financial advisory Outcrop Capital claims to have been swindled out of bonds with a nominal value of €79.8 million in a "security token" deal with another Russian-controlled Cayman firm, Versatile Chain.

Blockchain firm Skrumble sued in Cayman for alleged unpaid fees

October 22, 2019 - A Cayman Islands affiliate of Canadian blockchain and communication technology firm Skrumble Technologies is being sued in Cayman over alleged unpaid fees owed to the operator of a special economic zone for innovators and entrepreneurs.

'Financial crime consultant' Kenneth Rijock defamed Israeli attorney Steven Slom, rules Miami judge

October 22, 2019 - Miami-based self-described "financial crime consultant" Kenneth Rijock "falsely" accused Israeli attorney Steven Slom of involvement in serious financial crime, a Florida judge has determined.

BVI operator of Bitfinex crypto exchange seeks discovery in 'hunt for missing $880M of client funds'

October 20, 2019 - The BVI operator of Bitfinex cryptocurrency exchange, which was sued 12 days earlier for allegedly perpetrating a multi-billion dollar fraud, has applied to take discovery in California for a purported attempt to recover $880 million of client funds that its Swiss payments processor has allegedly failed to remit.

Ex-UK military lost pensions in dubious Guernsey scheme, says regulator

October 19, 2019 - Former UK "military personnel" were persuaded to transfer their government pensions to Guernsey-based Marlborough Pension Trustees, which then invested their assets in unsuitable "high-risk investments" that failed and distributed false net asset values that concealed losses, a regulator has claimed.

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.