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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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Rishi Gupta v. New Silk Route Advisors LP et al: Complaint

October 07, 2019 - Complaint alleging "Retaliation in Violation of the Dodd-Frank" in Rishi Gupta, of New York, NY, described as "a SEC Whistleblower" v. New Silk Route Advisors LP, of the Cayman Islands; New Silk Route Partners Ltd., of the Cayman Islands; Parag Saxena, of New York, NY; New Silk Route PE Associates LP, of the Cayman Islands; New Silk Route PE Asia Fund-A LP, of the Cayman Islands; New Silk Route Asia Fund LP, of the Cayman Islands; New Silk Route Holdings LLC, of Mauritius, as Defendants, and New Silk Route Mauritius Advisors LLC, of Mauritius; Arduino Holdings Limited, of Cyprus; InGain Traders LLC, of Mauritius; South Asia Gastronomy Enterprises LLC, of Mauritius; Orisen MedTech Limited, of Mauritius; A H Holdings (BVI) Limited, of the British Virgin Islands, and A H Holdings Sarl, of Luxembourg, as Relief Defendants, at the U. S. District Court for the Southern District of New York.

$1.4 Trillion class action against crypto exchange Bitfinex & cryptocurrency Tether for 'largest bubble in human history'

October 07, 2019 - A class action securities fraud complaint for damages that "likely surpasses $1.4 trillion" for creating "the largest bubble in human history" has been filed against cryptocurrency exchange Bitfinex and cryptocurrency Tether, with defendants from the BVI, Hong Kong, Italy, Netherlands, Panama, Switzerland, and the US.

David Leibowitz et al v. iFinex Inc. et al: Class Action Complaint

October 06, 2019 - Class Action Complaint alleging cryptocurrency-based fraud, market manipulation, and RICO in David Leibowitz, of West Palm Beach, Florida; Benjamin Leibowitz, of New York, NY; Jason Leibowitz, of New York, NY; Aaron Leibowitz, of Westchester, NY, and Pinchas Goldshtein, of Miami, Florida v. iFinex Inc., of the British Virgin Islands; BFXNA Inc., of the British Virgin Islands; BFXWW Inc., of the British Virgin Islands; Tether Holdings Limited, of the British Virgin Islands; Tether Operations Limited, of the British Virgin Islands; Tether Limited, of Hong Kong; Tether International Limited, of the British Virgin Islands; DigFinex Inc., of the British Virgin Islands; Philip G. Potter, a resident of New York; Giancarlo Devasini, a citizen of Italy; Ludovicus Jan van der Velde, a citizen of the Netherlands; Reginald Fowler, a citizen of the United States; Crypto Capital Corp., of Panama, and Global Trade Solutions AG, of Switzerland, at the U. S. District Court for the Southern District of New York.

Ileana Agudelo et al v. Horizon Crescent Wealth LLC et al: Judgment

October 02, 2019 - Judgment dismissing Claimants' application for summary judgments and for further disclosure by the Qatar Financial Centre Regulatory Authority in Ileana Agudelo and Eniluz Jhoana Gonzalez Aponte, both of Costa Rica, as Claimants v. Horizon Crescent Wealth LLC, of Qatar; Patrick Baeriswyl, of Switzerland, and Jean Marc Mantegani, of England, as Defendants, and Qatar Financial Centre Regulatory Authority, which suspects money laundering, an Interested Party, at the Civil and Commercial Court of the Qatar Financial Centre.

Switzerland: David Saraf Yakir

October 02, 2019 - Application for the appointment of a Commissioner to collect evidence - pursuant to a request for judicial assistance from Switzerland - for a criminal investigation into David Saraf Yakir for suspected misappropriation, fraud, and money laundering.

'MLAT publication is breach of Europe's GDPR,' claims Spanish citizen

September 19, 2019 - 'Legal Statement' sent to OffshoreAlert by Juan Carlos Escrucería Gutierrez, "a Spanish citizen", requesting the removal of a publicly-available MLAT document that OffshoreAlert obtained from federal court in Miami, claiming that its publication amounts to a breach of the European Union's General Data Protection Regulation and is punishable by a fine of up to €20 million.

Juan Carlos Escruceria Gutierrez: 'Exoneration' Documents

September 10, 2019 - Documents supplied by a reputation manager that 'exonerate' Juan Carlos Escruceria Gutierrez, of Colombia.

'Remove MLAT or we report you to 'black servers' for blocking,' writes Colombian reputation manager

September 10, 2019 - Letter to the Editor from Angélica Coava Lopera, on behalf of Juan Carlos Escruceria Gutierrez, requesting the removal from OffshoreAlert's website of an application for judicial assistance to collect evidence for a criminal investigation in Spain into suspected narcotics trafficking and money laundering.

Equity Power Fund: Shareholder Letter

September 02, 2019 - Shareholder Letter by the Board of Directors of LFP I SICAV SIF S.A., of Luxembourg, alleging "fraud, forgery, breach of trust and money laundering" regarding Equity Power Fund.

Odebrecht SA et al: Chapter 15 Petition

August 26, 2019 - Chapter 15 Petition for Recognition of a Foreign Main Proceeding in Brazil by Marcelo Rossini, as the Foreign Representative of Odebrecht S.A., of Brazil; Odebrecht Finance Limited, of the Cayman Islands; Odebrecht Participações e Investimentos S.A., of Brazil, and ODB International Corporation, of the Bahamas, at the U. S. Bankruptcy 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.

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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.