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Gustavo Lopez v. Uulala Inc.: Complaint

March 30, 2020 - Complaint for non-payment of a promissory note of $700,000 regarding a dispute involving a cryptocurrency group that is domiciled in Bermuda in Gustavo Lopez, individually and on behalf of Uhhlala Holdings LLC v. Uulala Inc., of Delaware, at the Superior Court of the State of California, County of Los Angeles.

deVere & Partners Holding Ltd.: Fine

March 30, 2020 - Announcement by the Malta Financial Services Authority that it has imposed an administrative penalty of €23,000 against deVere & Partners Holding Limited for providing "insurance distribution activities" without a license. Editor's Note: Research by OffshoreAlert showed that, in the Malta Business Registry, the sole director of deVere & Partners Holding Limited is identified as Beverley Yeomans, described in filings as a citizen of Malta, and the shareholders are identified as deVere Group Limited, of Dubai, and Nigel James Green, also described as a citizen of Malta.

OneWeb Global Ltd. et al: Chapter 11 Petition

March 27, 2020 - Chapter 11 Petition by OneWeb Global Limited, of England; 1021823 B.C. Ltd., of Canada; Network Access Associates Limited, of England; OneWeb ApS, of Greenland; OneWeb Chile SpA, of Chile; OneWeb Communications Limited, of England; OneWeb G.K., of Japan; OneWeb Global Limited, of England; OneWeb Holdings LLC, of New York; OneWeb Limited, of Jersey, in the Channel Islands; OneWeb Ltd., of Malta; OneWeb Network Access Holdings Limited, of England; OneWeb Norway AS, of Norway; WorldVu Australia Pty Ltd., of Australia; WorldVu Development LLC, of Nevada; WorldVu JV Holdings LLC, of Delaware; WorldVu Mexico, S. DE R. L. DE C.V., of Mexico; WorldVu Satellites Limited, of Jersey, in the Channel Islands; WorldVu South Africa (Pty) Ltd., of South Africa, and WorldVu Unipessoal Lda, of Portugal, at the U. S. Bankruptcy Court for the Southern District of New York.

Steven Reynolds v. Binance Holdings Ltd.: Complaint

March 27, 2020 - Complaint in Steven Cody Reynolds, a resident of Oregon described as "an experienced investor in cryptocurrencies" v. Binance Holdings Ltd., described as "a Cayman Islands limited company with headquarters in the Republic of Malta", at the U. S. District Court for the Northern District of California.

Portugal: 1&1 Ionos Inc. ('David Peterson')

March 27, 2020 - Application for the appointment of a Commissioner to collect evidence from 1&1 Ionos Inc. - pursuant to a request for judicial assistance from Portugal - for a criminal investigation into "unknown suspect(s) going by the name David Peterson" for suspected fraud.

Hungary: JPMorgan Chase Bank

March 27, 2020 - Application for the appointment of a Commissioner to collect evidence from JPMorgan Chase Bank - pursuant to a request for judicial assistance from Hungary - for a criminal investigation into "unknown subjects for fraud" committed against companies in China and Hungary.

USA v. KBR Diensten: Forfeiture Complaint

March 26, 2020 - Complaint to seize funds at de Volksbank, in the Netherlands, in an account in the name of KBR Diensten, whose beneficiary is identified as Naim Ali Oglou, that are allegedly the proceeds of a $3.8 million "Business Email Compromise" fraud against a real estate management company in Atlanta, Georgia, in USA v. Funds at de Volksbank at the U. S. District Court for the Northern District of Georgia.

George's Bay Ltd.: Chapter 15 Petition

March 26, 2020 - Chapter 15 Petition for Recognition of a Foreign Main Proceeding in Bermuda by Keiran Hutchison and Chris Maiato, both of Ernst & Young Ltd., as the Foreign Representatives of George's Bay Limited, at the U. S. Bankruptcy Court for the Southern District of New York.

InfraRed Environmental Infrastructure GP Ltd. et al v. Spain: Complaint

March 25, 2020 - Complaint to register an arbitral award in InfraRed Environmental Infrastructure GP Limited, European Investments (Morón) 1 Limited, European Investments (Morón) 2 Limited, European Investments (Olivenza) 1 Limited, and European Investments (Olivenza) 2 Limited, all of England v. Kingdom of Spain at the U. S. District Court for the District of Columbia.

Nigeria v. Citibank et al: Discovery Application

March 25, 2020 - Application by the Republic of Nigeria to take discovery from Citibank, N.A., Allied Irish Banks, HSBC Bank USA, Standard New York, Inc., Deutsche Bank Trust Company Americas, J.P. Morgan Chase, United Bank for Africa, Bank of Cyprus, Fortis Private Banking Singapore Limited., and Standard Chartered International (USA) Ltd. for use in "criminal investigations" in Nigeria regarding "a fraudulent scheme to defraud FRN of almost $10 billion ... carried out by Process & Industrial Developments Limited, a British Virgin Islands shell entity with no technical capabilities, virtually no employees, and no demonstrable financial resources", filed 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 ISLANDS  
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.