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Cayman discount broker OneTRADEx taken over by financial regulator

July 21, 2019 - Cayman Islands-based online discount broker OneTRADEx Ltd., which is operated by Colin Wilson and Rich Ellison, has been put into Controllership by the Cayman Islands Monetary Authority, with insolvency practitioners Kenneth Krys and Angela Barkhouse, of KRyS Global, appointed to manage the firm's affairs and assess its financial condition.

Barrakuda Ltd. v. Zazaby Jewels Inc. et al: Complaint

July 19, 2019 - Complaint alleging fraud in Barrakuda Limited, of Dubai v. Zazaby Jewels Inc., of Florida; Duty Free World Inc., of Florida, and Mayra Del Valle, d.b.a. Triana LLC, at the U. S. District Court for the Southern District of Florida.

OneTRADEx Ltd.: Public Notice of Controllership

July 19, 2019 - Public Notice by the Cayman Islands Monetary Authority regarding controllers being appointed for OneTRADEx Ltd., an online discount broker whose owners and operators appear to be Canadian.

Laura Zuniga Caceres et al v. Hancock Whitney Bank: Discovery Application

July 17, 2019 - Ex Parte Application by Laura Zuniga Caceres, Bertha Zuniga Caceres, and Salvador Zuniga Caceres to take discovery from Hancock Whitney Bank for use in criminal proceedings in Honduras against Roberto David Castillo Mejia for suspected murder, filed at the U. S. District Court for the Southern District of Mississippi.

Alejandro Toledo Manrique: Extradition Complaint

July 17, 2019 - Complaint to extradite Alejandro Toledo Manrique, a former president of Peru, from the USA to Peru to face allegations of soliciting and receiving a $20 million bribe from Constructora Norberto Odebrecht SA regarding the Peru-Brazil Southern lnteroceanic Highway Project and laundering it "through various companies and offshore accounts", including those in Costa Rica, England, Israel, and Switzerland, filed at the U. S. District Court for the Northern District of California.

Irving Picard v. Kingate Global Fund Ltd.: Motion to Approve Settlement

July 17, 2019 - Motion for an Order Approving Settlement Agreement in Irving Picard, as Trustee for the Liquidation of Bernard L. Madoff Investment Securities LLC v. Kingate Global Fund Ltd. and Kingate Euro Fund Ltd., both of the British Virgin Islands, at the U. S. Bankruptcy Court for the Southern District of New York.

Sanne Fiduciary Services fined by Jersey regulator

July 17, 2019 - Sanne Fiduciary Services Limited has been fined £381,010 by the Jersey Financial Services Commission for regulatory breaches.

Sanne Fiduciary Services Ltd.: Fine

July 17, 2019 - Public Statement by the Jersey Financial Services Commission regarding a £381,010 fine imposed on Sanne Fiduciary Services Limited.

Cayman crypto firm Kowala sued for securities fraud in California

July 17, 2019 - Cayman Islands cryptocurrency firm Kowala SEZC and its US-based principals - Eiland Glover, John Reitano, and Walker Willse - are being sued for securities fraud in California regarding 'tokens' known as kCoin for which the defendants allegedly raised more than $3 million but never launched.

Frontier Co. Ltd. v. Cloudflare Inc.: Discovery Application

July 16, 2019 - Ex Parte Application by Frontier Co. Ltd. to take discovery from Cloudflare Inc. for use in legal proceedings in Japan, filed at the U. S. District Court for the Northern District of California.

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.