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

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€43M superyacht builder seeks liquidation of Cayman firm 'owned by Venezuelan narco-trafficker'

August 21, 2019 - Italian luxury yacht manufacturer Azimut Bennetti SpA has applied to wind up a Cayman Islands firm allegedly owned by Venezuelan suspected narcotics trafficking-related money launderer Samark Lopez Bello regarding an alleged €500,000 debt owed on a €43 million motor yacht.

USA moves to bar trial evidence that 'bribes are a custom' in Barbados

August 12, 2019 - Former Barbados Government Minister Donville Inniss should be precluded from introducing evidence at his upcoming money laundering trial in New York that "bribes are a custom or practice in Barbados", the United States has argued. The alleged scheme involved insurers BF&M, of Bermuda, and Insurance Corporation of Barbados.

Bruce Blake et al: Press Release - Criminal Charges

August 08, 2019 - Press Release by the Cayman Islands Anti-Corruption Commission regarding criminal charges of corruption, false accounting, and money laundering against Bruce Blake and Canover Watson, both former senior officials with the Cayman Islands Football Association.

USA v. Donville Inniss et al: Second Superseding Indictment

August 01, 2019 - Second Superseding Indictment for money laundering regarding an alleged bribery scheme that, inter alia, involved Insurance Corporation of Barbados Ltd., of Barbados, and BF&M Ltd., of Bermuda, in USA v. Donville Inniss, described as a former Member of Parliament and Minister of Industry, International Business, Commerce and Small Business Development in Barbados; Ingrid Innes, described as a citizen of Canada and resident of Barbados, and Alex Tasker, described as a citizen and resident of Barbados, at the U. S. District Court for the Eastern District of New York.

USA v. Edward Gong: Application to Enforce Foreign Restraining Order

July 31, 2019 - Application to Enforce and Register Foreign Restraining Order regarding a $200 million fraud scheme by individuals in Canada, China, and New Zealand in USA v. Xiao Hua Gong, a.k.a. Edward Gong, a citizen of Canada, at the U. S. District Court for the District of Columbia.

Liechteinstein: Ivan Matracchi

July 29, 2019 - Application for the appointment of a Commissioner to collect evidence from Microsoft Corporation - pursuant to a request for judicial assistance from Liechtenstein - for a criminal investigation into Ivan Matracchi for suspected fraud and money laundering.

USA v. Alexander Vinnik et al: Complaint

July 25, 2019 - Complaint alleging violation of the Bank Secrecy Act regarding an alleged cryptocurrency-based money laundering scheme in USA v. BTC-e, a.k.a. Canton Business Corp., domiciled in "either Cyprus and/or the Seychelles Islands" and operating "in Bulgaria, the Seychelles Islands and other jurisdictions", and Alexander Vinnik, "a Russian national who is currently incarcerated in Greece", at the U. S. District Court for the Northern District of California.

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.

Robert Davis et al v. Isle of Man Attorney General: Judgment

July 16, 2019 - Judgment regarding an application to amend a "doleance claim" to quash search and seizure warrants for an investigation into money laundering involving international payments processing and money services firm PacNet Services Ltd., of Canada, in Robert Paul Davis, Monica Elizabete Botcher, Timothy Richard Craine, Balladaniel Limited, Differentia Limited, Counting House Services Limited, Delivered Co. Ltd., and Susana Keil v. HM Attorney General at the Isle of Man High Court.

Tim Leissner: Life Ban

July 03, 2019 - News Release by the Hong Kong Securities and Futures Commission regarding a life ban against Tim Leissner, described as "a former responsible officer of Goldman Sachs (Asia) LLC", for his involvement with 1Malaysia Development Berhad, a.k.a. 1MDB.

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.