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BRIBERY & CORRUPTION

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USA v. Natalino D'Amato: Indictment

November 25, 2020 - Criminal Indictment alleging money laundering regarding Petróleos de Venezuela SA, a.k.a. PDVSA, "the state-owned and state-controlled oil company of Venezuela" in USA v. Natalino D'Amato, described by the U.S. Department of Justice as a dual citizen of Venezuela and Italy who, inter alia, "owned and controlled a Nevis-based corporation called Kronos Enterprises Corp.", at the U. S. District Court for the Southern District of Florida.

Odebrecht Engenharia e Construção S.A. et al: Chapter 15 Petition

November 24, 2020 - Chapter 15 Petition for Recognition of a Foreign Main Proceeding in Brazil by Adriana Henry Meirelles, as the Foreign Representative of Odebrecht Engenharia e Construção S.A., CNO S.A., and OECI S.A., all of São Paulo, Brazil, at the U. S. Bankruptcy Court for the Southern District of New York.

Budget-Marine N.V. v. Regions Bank: Discovery Application

November 11, 2020 - Application by Budget-Marine N.V., of Sint Maarten, in the Netherlands Antilles, to take discovery from Regions Bank for use in legal proceedings brought by Yacht Chandlers, Inc., of Fort Lauderdale, Florida, in Sint Maarten, filed at the U. S. District Court for the Southern District of Florida.

USA v. Beam Suntory Inc.: Deferred Prosecution Agreement

October 23, 2020 - Deferred Prosecution Agreement regarding an alleged bribery scheme involving India in USA v. Beam Suntory Inc. at the U. S. District Court for the Northern District of Illinois.

Goldman Sachs (Singapore) Pte.: $122M Fine

October 23, 2020 - Joint Statement by Singapore's Attorney General, Police Force, and Monetary Authority that they have imposed a fine of $122 million on Goldman Sachs (Singapore) Pte. "for its role" in bond offerings by 1Malaysia Development Berhad, a.k.a. 1MDB.

Goldman Sachs (Asia) LLC: $350M Fine

October 22, 2020 - Statement of Disciplinary Action by the Securities and Futures Commission of Hong Kong imposing a fine of US$350 million on Goldman Sachs (Asia) LLC regarding 1Malaysia Development Berhad, a.k.a. 1MDB.

Goldman Sachs Group Inc.: $150M Fine

October 22, 2020 - Consent Order by New York State Department of Financial Services imposing a fine of $150 million on The Goldman Sachs Group Inc. for "the fraudulent misappropriation of funds from Malaysia's strategic investment development fund, known as 1Malaysia Development Berhad".

USA v. Goldman Sachs (Malaysia) Sdn. Bhd.: Plea Agreement

October 22, 2020 - Plea Agreement regarding a conspiracy to violate the Foreign Corrupt Practices Act involving 1Malaysia Development Berhad, a.k.a. 1MDB, in USA v. Goldman Sachs (Malaysia) Sdn. Bhd. at the U. S. District Court for the Eastern District of New York.

USA v. Goldman Sachs (Malaysia) Sdn. Bhd.: Criminal Information

October 22, 2020 - Criminal Information alleging conspiracy to violate the Foreign Corrupt Practices Act involving 1Malaysia Development Berhad, a.k.a. 1MDB, in USA v. Goldman Sachs (Malaysia) Sdn. Bhd. at the U. S. District Court for the Eastern District of New York.

USA v. Goldman Sachs Group Inc.: Deferred Prosecution Agreement

October 22, 2020 - Deferred Prosecution Agreement regarding allegations of conspiracy to violate the Foreign Corrupt Practices Act involving Malaysia Development Berhad in USA v. The Goldman Sachs Group Inc. at the U. S. District Court for the Eastern 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.