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FRAUD

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Kingstown Partners Master Ltd. et al v. DXC Technology Company et al: Complaint

March 31, 2020 - Complaint alleging securities fraud in Kingstown Partners Master Ltd., of the Cayman Islands; Kingstown Partners II LP, Ktown LP, and Kingfishers LP, all of Delaware v. DXC Technology Company, Hewlett Packard Enterprise Company, Rishi Varna, Timothy C. Stonesifer, Jeremy K. Cox, Mukesh Aghi, Amy E. Alving, David Herzog, Sachin Lawande, J. Michael Lawrie, Julio A. Portalatin, Peter Rutland, Manoj P. Singh, Margaret C. Whitman, Robert F. Woods, and Paul N. Saleh at the U. S. District Court for the Northern District of California.

Bermuda crypto firm Arbitrade sues SION Trading for alleged fraud

March 30, 2020 - Bermuda-domiciled cryptocurrency firm Arbitrade Ltd. has filed a legal action in New York against Max Barber and his firm, SION Trading FZE, of Ras Al Khaimah, alleging fraud.

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.

Nigeria seeks US bank records for investigation into '$10B fraud by BVI shell entity'

March 26, 2020 - Nigeria is seeking records from ten banks in the United States for a criminal investigation into an alleged $10 billion bribery and fraud scheme committed by a "shell entity" in the British Virgin Islands that was set up and operated by citizens of Ireland and the United Kingdom.

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.

3 Point Ventures Ltd. et al v. Chet Mining Co. LLC et al: Complaint

March 24, 2020 - Complaint alleging fraud and breach of contract regarding crypto mining products and services in 3 Point Ventures Ltd., of the Cayman Islands, and Amir Fardghassemi, a resident of California and Dubai v. Chet Mining Co. LLC, of Wyoming; Chet Mining Co. Canada Ltd., described as a British Columbia company based in New York, and Chet Stojanovich, of New York, at the U. S. District Court for the Southern District of New York.

Diligence Inc. v. Nicholas Day: Diligence Opposition to Day's Motion To Dismiss

March 24, 2020 - Diligence Inc.'s Opposition to Nicholas Day's Motion to Dismiss regarding a dispute over ownership of Switzerland-domiciled Diligence Global Business Intelligence SA in Diligence Inc., a Delaware company majority owned by Cayman Islands-domiciled Information Security Investments Company v. Nicholas Day, a citizen of the United Kingdom residing in France, at the Court of Chancery of the State of Delaware.

Portugal: 1&1 Ionos Inc. (€17,298 Fraud)

March 24, 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 use in a criminal investigation into "unknown suspect(s) for fraud".

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.