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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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Sylvia Sutherland v. Pannell Kerr Forster et al: Judgment

October 17, 2019 - Judgment regarding "the breakdown of a professional relationship" in Sylvia Sutherland v. Pannell Kerr Forster and Floyd Patterson at the Saint Vincent and the Grenadines High Court.

Black River Trust Company Ltd et al.: Disqualification of Officers & License Revocation

October 03, 2019 - Notice by the Mauritius Financial Services Commission announcing the Revocation of the Management License of Black River Trust Company Ltd., formerly known as Grand Baie Trust Company Ltd., and the Disqualification of its Officers, Luc Allan Penny Hack, a lawyer, and David Perry Haskell, a British chartered accountant.

RSM US LLP: Findings & Sanctions

August 27, 2019 - Order Instituting Public Administrative and Cease-and-Desist Proceedings, Making Findings and Imposing Remedial Sanctions in the matter of RSM US LLP, formerly McGladrey LLP, before the U. S. Securities and Exchange Commission.

Bruce McNaught: Public Statement (August 9, 2019)

August 09, 2019 - Public Statement by the Guernsey Financial Services Commission regarding Bruce David McNaught.

Cooperatieve Rabobank U.A. et al v. Crowe LP: Notice of Removal

July 25, 2019 - Notice of Removal, including a copy of the complaint, in Cooperatieve Rabobank U.A., New York Branch; Brown Brothers Harriman & Co., of New York; Bank Hapoalim B.M., of Israel; Mitsubishi International Corporation, of New York; ICBC Standard Bank Plc, of England and Wales; Techemet Metal Trading LLC, of Texas; Woodforest National Bank, of Texas, and Hain Capital Investors Master Fund Ltd., of the Cayman Islands v. Crowe LP, an accounting firm in Florida and a member of Switzerland-based Crowe Global, at the U. S. District Court for the Southern District of Florida.

Robert Patraulea v. Council of the Cayman Islands Institute of Professional Accountants: Judgment

July 22, 2019 - Judgment in Robert Patraulea, a citizen of Canada residing in the Cayman Islands v. The Council of the Cayman Islands Institute of Professional Accountants at the Grand Court of the Cayman Islands.

Carter Backer Winter LLP v. Cranborne Enterprises Ltd.: Liquidation Application

July 11, 2019 - Originating Application for the appointment of liquidators based in Bermuda and the British Virgin Islands in Carter Backer Winter LLP, an accounting and business advisory firm based in the United Kingdom v. Cranborne Enterprises Limited at the British Virgin Islands High Court.

US lawyers & accountants sued over 'illegal and abusive' offshore tax scheme

July 04, 2019 - A class action complaint has been filed in the United States against professional advisers in Arizona, Florida, and New York, captive insurers in Saint Kitts and Nevis, and others for allegedly designing and promoting "illegal and abusive tax shelters" into which "premiums" totaling tens of millions of dollars were paid.

Benyamin Avrahim et al v. Clark & Gentry et al: Class Action Complaint

July 03, 2019 - Complaint alleging fraud regarding "illegal and abusive tax shelters" involving offshore captive insurers in the Caribbean in Feedback Insurance Company, Ltd., of Saint Kitts and Nevis; Benyamin Avrahami, Orna Avrahami, BYS Company, ACC, Chandler One, LLC, Junction Development, LLC, O & E Corporation, White Mountain Equities, LLC, and White Knight Investment, ACC, all of Arizona v. Celia Clark, of New York; Clark & Gentry, PLLC, of New York; John Garcia, of New York, as Personal Representative for the Estate of Craig McEntee; McEntee & Associates PC, of New York; Neil Hiller, of Arizona; Fennemore Craig, PC, of Arizona; Allen Rosenbach, of Florida; ACR Solutions Group, of Florida; RMS Solutions, Inc., of Illinois; Heritor Management, Ltd., of Saint Kitts and Nevis; and Pan American Reinsurance Company, Ltd., of Saint Kitts and Nevis, at the U. S. District Court for the District of Arizona.

Grant Thornton and law firms agree to settle Providence Financial lawsuit

June 20, 2019 - Accounting firm Grant Thornton and law firms Cadwalader, Wickersham & Taft, and Greene Espel have agreed to pay a combined $849,243 to settle claims that they aided and abetted a $150 million investment fraud perpetrated by the Providence Financial Group, which was based in Guernsey, Miami, and Brazil.

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.