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Tierion, Inc.: $250K Fine

December 23, 2020 - Administrative Order by the U. S. Securities and Exchange Commission imposing a fine of $250,000 on Tierion, Inc. for regulatory breaches involving the sale of digital tokens by its "Cayman Islands-subsidiary, Tierion International Ltd.". Editor's Note: Research by OffshoreAlert in the Cayman Islands General Registry showed that the directors of Tierion International Ltd. are Casey McDonald and Wayne Vaughan.

SEC v. Global Investment Strategy UK Ltd. et al: Complaint

December 22, 2020 - Complaint alleging unregistered activity in U. S. Securities and Exchange Commission v. Global Investment Strategy UK Ltd., which "is a financial services firm registered with and regulated by the Financial Conduct Authority of the United Kingdom, and is a member of the London Stock Exchange", and John William Gunn, described as a citizen of the United Kingdom residing in London, England, at the U. S. District Court for the Southern District of New York.

SEC v. Ripple Labs, Inc. et al: Complaint

December 22, 2020 - Complaint alleging an "illegal securities offering" that raised "at least $1.38 billion" in U. S. Securities and Exchange Commission v. Ripple Labs, Inc., formerly known as Open Coin, Inc., described as a Delaware company based in San Francisco, California; Bradley Garlinghouse, and Christian A. Larsen at the U. S. District Court for the Southern District of New York.

RA Solar Technologie Investment GmbH: Public Warning

December 18, 2020 - Public Warning by the Swiss Financial Market Supervisory Authority that RA Solar Technologie Investment GmbH is suspected of "conducting unauthorised activities in the financial market". Editor's Note: Research by OffshoreAlert in the Swiss Commercial Registry showed that the sole "partner and manager" of Technische Isolierung Schweiz GmbH is Tamás Hodel, while resigned representatives include Yücel Yüce. On its website at rainvestmentgmbh.com, it is stated that: "RA Solar Technologie Investment GmbH offers Fresh Cut Cash Backed (BG) Bank Guarantee and (SBLC) Standby Letter of Credit issued with HSBC Bank plc."

SEC v. Karina Chairez: Complaint

December 15, 2020 - Complaint alleging "a multi-level marketing scheme that targeted Latinx and Spanish-speaking communities with promises of high returns from algorithmic digital asset day-trading by "automated robots" connected to "international exchanges"; and from a recruitment compensation plan that incentivized members to attract others to the scheme" involving an "investment club" known as AirBit in the U. S. Securities and Exchange Commission v. Karina Chairez, of Modesto, California, at the U. S. District Court for the Southern District of New York.

Rajesh Taneja: Industry Ban

December 04, 2020 - Administrative Order by the U. S. Securities and Exchange Commission imposing an industry ban on Rajesh Taneja, described as "a citizen of Canada and a resident of Vietnam", for alleged fraud and unregistered activity.

Dekrypt Capital LLC et al v. Uphold Ltd. et al: Amended Complaint

November 13, 2020 - Amended Complaint alleging "Defendants promoted, offered, and sold unregistered and non-exempt securities, called Universal Protocol Tokens, in the United States and in violation of federal and state securities laws" in Dekrypt Capital LLC, of Delaware; Dekrypt Master Fund LP, of the British Virgin Islands; Dekrypt Ventures I LP, of the British Virgin Islands; Arrington XRP Capital Cayman SPV Ltd., of the Cayman Islands, and Arrington Capital Management LLC, of Washington state v. Uphold Ltd., of the Cayman Islands; Uphold Inc., of Washington state; Uphold HQ Inc., of South Carolina; Juan Pablo Thieriot, of San Francisco, California, and Daniel Schatt, of San Mateo County, California, at the Superior Court of Washington for King County.

Bitstamp Ltd.: $15K Fine

November 13, 2020 - Stipulation and Consent Order regarding the State of Vermont Department of Financial Regulation and Bitstamp Ltd., described as a provider of "online virtual currency services", based in England,

SEC v. Kik Interactive Inc.: Proposed Final Judgment

October 20, 2020 - Proposed Final Judgment to settle allegations regarding the sale of digital tokens in U. S. Securities and Exchange Commission v. Kik Interactive Inc., of Canada, at the U. S. District Court for the Southern District of New York.

CFTC sues operators of BitMEX crypto derivatives platform

October 01, 2020 - The CFTC has sued eight companies and individuals in or from Bermuda, Hong Kong, Seychelles, United Kingdom, and the United States, alleging they operated a cryptocurrency derivatives platform without being registered.

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.