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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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Uruguay: Bank of America

July 29, 2020 - Application for the appointment of a Commissioner to collect evidence from the Bank of America - pursuant to a request for judicial assistance from Uruguay - for a criminal investigation into "unknown subjects for fraud".

Poland: Prima Spolka, LLC et al

July 29, 2020 - Application for the appointment of a Commissioner to collect evidence from CenturyLink - pursuant to a request for judicial assistance from Poland - for a criminal investigation into Prima Spolka, LLC and others for suspected fraud involving value added tax reimbursements.

The Industrial Development Corporation of South Africa Ltd. v. Bank of America et al: Discovery Application

July 28, 2020 - Application by The Industrial Development Corporation of South Africa Limited to take discovery from Bank of America N.A., Bank of Baroda, Bank of China, New York Branch; The Bank of New York Mellon, BNP Paribas, New York Branch; Citibank N.A. Commerzbank AG, New York Branch; Deutsche Bank Trust Company Americas, HSBC Bank (USA) N.A., JPMorgan Chase Bank, N.A., Mashreq Bank, New York Branch; National Bank of Abu Dhabi, Societe Generale, New York Branch; Standard Chartered Bank, New York Branch; UBS AG, New York Branch, and Wells Fargo Bank N.A. for use in legal proceedings in South Africa involving Oakbay Resources and Energy Limited and allegations of "money laundering, common law fraud, and securities fraud", filed at the U. S. District Court for the Southern District of New York.

InvestBank PSC v. Citibank et al: Discovery Application

July 24, 2020 - Application by InvestBank PSC to take discovery from Citibank N.A., Deutsche Bank Trust Co. Americas, Standard Chartered Bank,  The Bank of New York Mellon, JPMorgan Chase Bank, N.A., Barclays Bank PLC, Wells Fargo Bank, N.A., Bank of America, N.A., HSBC Bank USA, N.A., Société Générale, BNP Paribas USA, The Bank of Nova Scotia, UBS AG, Commerzbank AG, Bank of China, New York Branch, and The Clearing House Payments Company LLC for use in "contemplated proceedings" in Dubai "against Greenline Interiors FZCO, Greenline Yacht Interiors FZCO, Samir Michael Badro, Nabila Iskandar Samir Abboud Badro, Lea Samir Badro Hamadeh, Roy Samir Badro, and Fay Badro Zakhem" involving, inter alia, companies in Bahrain, British Virgin Islands, Dubai, Germany, Lebanon, Qatar, Saudi Arabia, Syria, United Kingdom, and the USA, filed at the U. S. District Court for the Southern District of New York.

Hungary: Zsolt Kurányi

July 20, 2020 - Application for the appointment of a Commissioner to collect evidence from JPMorgan Chase Bank regarding Kratos LLC - pursuant to a request for judicial assistance from Hungary - for a criminal investigation into Zsolt Kurányi for tax fraud and money laundering.

Super Perfect Investments Ltd. v. Agroinvestbank OJSC: Petition to Enforce $11M Arbitration Award

July 17, 2020 - Petition to Recognize and Enforce $11 Million Arbitration Award in Super Perfect Investments Ltd., of Hong Kong v. Agroinvestbank OJSC, of the Republic of Tajikistan, at the U. S. District Court for the Southern District of New York.

Saudi Arabia: Citizens Bank et al

July 16, 2020 - Application for the appointment of a Commissioner to collect evidence from Citizens Bank, S-Bank and JPMorgan Chase Bank - pursuant to a request for judicial assistance from Saudi Arabia - for a criminal investigation into "unknown subjects" for a suspected online romance fraud.

Ali Karimi v. Deutsche Bank et al: Class Action Complaint

July 15, 2020 - Class Action Complaint alleging "the Bank failed to properly monitor customers that the Bank itself deemed to be high risk, including, among others, the convicted sex offender Jeffrey Epstein and two correspondent banks, Danske Estonia and FBME Bank, which were both the subjects of prior scandals involving financial misconduct" in Ali Karimi v. Deutsche Bank AG, of Germany; John Cryan, Christian Sewing, and James von Moltke at the U. S. District Court for the District of New Jersey.

Switzerland: Capital One Bank

July 10, 2020 - Application for the appointment of a Commissioner to collect evidence from Capital One Bank - pursuant to a request for judicial assistance from Switzerland - for a criminal investigation into "unknown subject(s) for fraud".

Deutsche Bank AG et al: $150M Fine

July 06, 2020 - Consent Order regarding "the Bank's relationship with Jeffrey Epstein" in New York Department of Financial Services v. Deutsche Bank AG, of Germany; Deutsche Bank AG, New York Branch, and Deutsche Bank Trust Company of the Americas.

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.