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SEC accuses offshore firms of $125M investment fraud

September 19, 2019 - The U. S. Securities and Exchange Commission has accused companies in the Bahamas, Cayman Islands, Cook Islands, New Zealand, Puerto Rico, Saint Vincent and the Grenadines, and the United States of participating in a $125 million investment fraud involving a group known as Mediatrix Capital.

Michelle Kwok Choi Ha: 15-Year Disqualification

September 18, 2019 - News Release by the Hong Kong Securities and Futures Commission regarding the disqualification for "misconduct" of Michelle Kwok Choi Ha, a former executive director of Tack Fat Group International Limited, now known as Life Healthcare Group Limited.

Strong Wealth Ltd. et al v. Arcsoft Inc. et al: Complaint

September 18, 2019 - Complaint alleging securities fraud in Marc Chan, a citizen of Canada residing in Hong Kong; Lei Li, Strong Wealth Limited, of the British Virgin Islands, and Pacific Smile Limited, of the British Virgin Islands v. Arcsoft Inc., of California, whose shares are traded on the Shanghai Stock Exchange; Michael Deng, Daniel MacKeigan, Timothy Lin, Huatai United Securities Company Limited, of China; Beijing Huatai New Industry Growth Investment Fund, of China; Shenzhen Huatai Ruilin Equity Investment Fund Partnership, of China, and Wavelet Capital Management Ltd., of Hong Kong, at the U. S. District Court for the Northern District of California.

Deutsche Bank Cayman et al v. Accendo Banco SA: Petition

September 18, 2019 - Petition for Injunctive Relief In Aid of Arbitration in Deutsche Mexico Holdings Sarl, of Luxembourg; Süddeutsche Vermogensverwaltung GmbH, of Germany,  and Deutsche Bank Aktiengesellschaft Cayman Islands Branch, c/o Cainvest Bank and Trust Limited, of the Cayman Islands v. Accendo Banco SA, formerly known as InvestaBank SA, of Mexico, at the U. S. District Court for the Southern District of New York.

Cayman crypto firm ICOBox sued by US regulator for 'unregistered' activity

September 18, 2019 - Cayman Islands cryptocurrency "incubator" ICOBox and its founder, Nikolay Evdokimov, have been sued by the U.S. SEC for alleged illegal involvement in digital token offerings that raised $665 million. In a separate lawsuit last year, a former CEO of an ICOBox subsidiary claimed the group's "main shareholders" were "all funded by Russian money laundered through bitcoins and other cryptocurrencies".

SEC v. ICOBox et al: Complaint

September 18, 2019 - Complaint alleging the "unregistered offering and unregistered broker activities of securities through so-called "token sales" or "initial coin offerings"" in U. S. Securities and Exchange Commission v. ICOBox, of the Cayman Islands, and Nikolay Evdokimov, of Beverly Hills, California, at the U. S. District Court for the Central District of California.

Participações Morro Vermelho SA et al v. Banco do Brasil et al: Discovery Application

September 18, 2019 - Ex Parte Application by Participações Morro Vermelho SA, of São Paulo, Brazil, and PMV International Inc., a British Virgin Islands company based in São Paulo, Brazil, to take discovery from Santander Private Banking International and Banco do Brasil Miami for use in legal proceedings in Brazil, the British Virgin Islands, and Portugal, filed at the U. S. District Court for the Southern District of Florida.

Poland: Google LLC

September 18, 2019 - Application for the appointment of a Commissioner to collect evidence from Google LLC - pursuant to a request for judicial assistance from Poland - for a criminal investigation into the unknown suspect(s) for attempted fraud and forgery in the amount of PLN 269 million.

Vista Holding Group AG targeted by Swiss regulator

September 18, 2019 - The Swiss Financial Market Supervisory Authority has warned the public that Vista Holding Group AG is suspected of conducting unauthorized financial activity.

USA v. Margareta Tonisson: FBAR Complaint

September 17, 2019 - Complaint alleging failure to file with the IRS a Report of Foreign Bank and Financial Accounts regarding accounts at BNP Paribas, France; Swed Bank, Sweden; SEB, Sweden; Nordea, Denmark, and Handelsbank, Sweden in USA v. Margareta B. Tonisson, a resident of Oregon who, according to the complaint, opted in, then out of, the Offshore Voluntary Disclosure Initiative, at the U. S. District Court for the District of Oregon.

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 crypto firm ICOBox sued by US regulator for 'unregistered' activity
Cayman Islands cryptocurrency "incubator" ICOBox and its founder, Nikolay Evdokimov, have been sued by the U.S. SEC for alleged illegal involvement in digital token offerings that raised $665 million. In a separate lawsuit last year, a former CEO of an ICOBox subsidiary claimed the group's "main shareholders" were "all funded by Russian money laundered through bitcoins and other cryptocurrencies".
LATEST ARTICLES & DOCUMENTS  
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.