OffshoreAlert
Daily news, documents and intelligence about Offshore Financial Centers and those who conduct business in them that you will not find anywhere else.

ALL NEWS

eMail Alerts  

Sign-Up for eMail Alerts

RSS Feed  

Subscribe to feed

Michael Ben-Ari: Chapter 15 Petition

August 03, 2021 - Chapter 15 Petition for Recognition of a Foreign Main Proceeding in Israel by Lior Dagan, as the Foreign Representative of Michael David Greenfield, a.k.a. Michael Ben-Ari, whose Israeli investment company, EGFE Israel Ltd., "is suspected of being one of the largest known Ponzi schemes in Israel", in which losses to "victims" are estimated to be "between NIS 300 to 600 million" (approx. US$93 million and $186 million at current exchange rates), filed at the U. S. Bankruptcy Court for the Southern District of New York.

USA v. $4.8M at Butterfield Bank: Amended Forfeiture Complaint

August 03, 2021 - Forfeiture Complaint in USA v. $4.8 million at The Bank of N.T. Butterfield & Son Limited, of Bermuda, to settle tax evasion allegations involving its Bermuda and Cayman Islands operations, filed at the U. S. District Court for the Southern District of New York.

Butterfield Bank admits 'criminal conduct', turns over client records & agrees to pay $4.8M to settle tax evasion investigation

August 03, 2021 - Butterfield Bank has agreed to forfeit $4.8 million and turned over client records as part of a Non-Prosecution Agreement with the U. S. Department of Justice in which the bank admitted "criminal conduct" by fraudulently helping U.S. taxpayers evade taxes via its Bermuda and Cayman Islands operations.

USA v. $4.8M at Butterfield Bank: Forfeiture Complaint

August 03, 2021 - Forfeiture Complaint in USA v. $4.8 million at The Bank of N.T. Butterfield & Son Limited to settle tax evasion allegations, filed at the U. S. District Court for the Southern District of New York.

Portugal: Bank of America (August 2021)

August 02, 2021 - Application for the appointment of a Commissioner to collect evidence from the Bank of America - pursuant to a request for judicial assistance from Portugal - for a criminal investigation into "an unknown subject for fraud".

Alpha Latam Management LLC et al: Chapter 11 Petition

August 02, 2021 - Chapter 11 Petition by Alpha Latam Management LLC, of Delaware; Acsa Atento SAS, of Colombia; Alpha Capital SAS, of Colombia; AlphaCredit Latam SAS, of Colombia; AlphaCredit Sudamérica, S de RL, of Panama; AlphaDebit, SA de CV, of Mexico; and Vive Créditos Kusida SAS, of Colombia, at the U. S. Bankruptcy Court for the District of Delaware.

Samson Siasia v. FIFA: Complaint

August 02, 2021 - Complaint challenging "FIFA's conviction and imposition of a life-ban" for bribery in Samson Siasia v. Fédération Internationale de Football Association, of Switzerland, at the U. S. District Court for the Southern District of New York.

Öksüt Madencilik San. Tic. AS v. LinkedIn Corp. et al: Discovery Application

July 30, 2021 - Application by Öksu¨t Madencilik San. Tic. A.S., described as a Turkish company that "operates a precious metals mine located in Turkey known as the Öksu¨t Mine", to take discovery from LinkedIn Corp. and Google LLC for use in "criminal and civil proceedings" in Turkey alleging "one or more individuals, believed to be former OMAS employees, have stolen confidential information from OMAS and are using that information to unlawfully harm the Company and exert influence over its employees, vendors, and others through anonymous online accounts", filed at the U. S. District Court for the Northern District of California.

USA v. Monel Herscovici: Complaint

July 30, 2021 - Complaint "to reduce FBAR penalty to judgment" regarding bank accounts in Liechtenstein and Switzerland in USA v. Monel Herscovici at the U. S. District Court for the Central District of California.

ACE American Insurance Co. v. University of Ghana: Petition to Confirm Arbitration Award

July 29, 2021 - Petition to Confirm Arbitration Award for $165 million in ACE American Insurance Company v. University of Ghana 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.

View Recent Digests

BAHAMAS  
BERMUDA  
BRITISH VIRGIN ISLANDS  
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.