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Equity Trust (Jersey) Ltd.: £115,575 Fine

June 01, 2020 - Public Statement by the Jersey FinancialServices Commission regarding a fine of £115,575 imposed on Equity Trust (Jersey) Limited

Alejandro Martinez Araiza v. Citibank USA et al: Discovery Application

May 29, 2020 - Application by Alejandro Martinez Araiza to take discovery from Citibank USA, King Baudouin Foundation, BBVA Compass Bank, JPMorgan Chase Bank, N.A., Wells Fargo, Standard Chartered Bank U.S., Bank of America, N.A., The Bank of New York Mellon, Northern Trust International Banking Corporation, Deutsche Bank Trust Company of America, HSBC Bank USA, and UBS AG for use in "an ongoing Mexican criminal proceeding" against The Non-Violence Foundation, of Switzerland, and the Non-Violence Project Mexico involving suspected fraud, filed at the U. S. District Court for the Southern District of New York.

Sabena Puri v. USA: Petition to Quash IRS Summons

May 28, 2020 - Petition to Quash Third Party Summons issued to Citibank NA by the Internal Revenue Services regarding "India Tax Liabilities" in Sabena Puri, of India v. USA at the U. S. District Court for the Central District of California.

Cayman regulator revokes license of Hinduja Bank

May 28, 2020 - The Cayman Islands Monetary Authority has revoked the banking license of Hinduja Bank & Trust (Cayman) Ltd. for suspected insolvency, its Switzerland-based sole director, Gilbert Pfaeffli, not being "fit and proper", and other regulatory breaches

Lilly Perry et al v. Lopag Trust Reg. et al: Judgment

May 27, 2020 - Judgment in Lea Lilly Perry and Tamar Perry v. Lopag Trust Reg., of Liechtenstein; Private Equity Services (Curaçao) NV, of Curaçao; Fiduciana Verwaltungsanstalt, of Liechtenstein; Gal Greenspoon, Yael Perry, Dan Greenspoon, Ron Greensoon, Ron Greenspoon, Mia Greenspoon, by Hagai Greenspoon, her guardian ad litem, and Admintrust Verwaltungs Anstalt at the Grand Court of the Cayman Islands.

Hinduja Bank & Trust (Cayman) Ltd.: License Revocation

May 27, 2020 - Decision Notice by the Cayman Islands Monetary Authority revoking the banking license of Hinduja Bank & Trust (Cayman) Ltd., whose "sole director" was identified as Gilbert Pfaeffli, who appears to be based in Switzerland.

Poland: Adam Golebiowski et al

May 26, 2020 - Application for the appointment of a Commissioner to collect evidence from Citibank - pursuant to a request for judicial assistance from Poland - for a criminal investigation into Adam Golebiowski and Tamara Wilmer-Golebiowski for suspected fraud.

Grand Capital Asset Management Ltd. v. Citibank NA et al: Discovery Application

May 22, 2020 - Application by Grand Capital Asset Management Ltd., of Bulgaria, to take discovery from Citibank N.A., The Bank of New York Mellon, Société Générale, HSBC Bank USA, N.A., BNP Paribas USA, JPMorgan Chase Bank, N.A., Barclays Bank PLC, Deutsche Bank Trust Co. Americas, Bank of Nova Scotia, UBS AG, Bank of America, N.A., Standard Chartered Bank US, Commerzbank AG US, and The Clearing House Payments Company, LLC for use in a "contemplated proceeding against Gulf Technical Commercial Printing Press LLC before the Sharjah Court of First Instance, major circuit, in the United Arab Emirates", filed at the U. S. District Court for the Southern District of New York.

USA v. Bank Hapoalim BM et al: $160M Forfeiture Complaint

May 20, 2020 - Forfeiture Complaint regarding $160 million of "gross proceeds from its scheme to defraud the United States" in USA v. Bank Hapoalim BM, of Israel, and Hapoalim (Switzerland) Ltd., of Switzerland, at the U. S. District Court for the Southern District of New York.

Atvos Agroindustrial Investimentos SA v. BBVA et al: Discovery Application

May 20, 2020 - Application by Atvos Agroindustrial Investimentos SA, described as "an indirect subsidiary of the Odebrecht Group", to take discovery from Banco Bilbao Vizcaya Argentaria SA, Intesa Sanpaolo SpA, New York Branch; Lone Star Global Acquisitions Ltd., Lone Star Global Acquisitions LLC, Lone Star North America Acquisitions LP, Lone Star Global Acquisitions (NY) LLC, Lone Star North America Acquisitions LLC, LSF10 Brazil U.S. Holdings LLC, MUFG Bank Ltd., Natixis S.A., New York Branch, and Sumitomo Mitsui Banking Corporation for use in legal proceedings in São Paulo, Brazil, regarding "an illegal hostile takeover attempt in Brazil of Applicant's subsidiary Atvos Agroindustrial S.A. – Em Recuperação Judicial", filed at the U. S. District 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.