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Greensill Bank AG: Chapter 15 Petition

April 20, 2021 - Chapter 15 Petition for Recognition of a Foreign Main Proceeding in Germany by Dr. Michael C. Frege, as the Foreign Representative of Greensill Bank AG, of Germany, described as "a wholly-owned subsidiary of the Australian company Greensill Capital Pty Limited" that has wholly-owned subsidiaries in Australia, Cayman Islands, and United Kingdom, filed at the U. S. Bankruptcy Court for the Southern District of New York.

City of St. Clair Shores Police and Fire Retirement System v. Credit Suisse Group AG et al: Class Action Complaint

April 16, 2021 - Class Action Complaint on behalf of "all persons who purchased or otherwise acquired Credit Suisse American Depositary Receipts between October 29, 2020 and March 31, 2021" alleging "materially false and misleading statements regarding the Company's business metrics and financial prospects", particularly involving Greensill Capital and Archegos Capital Management, "exposing the Company to billions of dollars in losses" in City of St. Clair Shores Police and Fire Retirement System v. Credit Suisse Group AG, of Switzerland; Thomas Gottstein, Lara J. Warner, and David R. Mathers at the U. S. District Court for the Southern District of New York.

MC Trustees (Malta) Ltd.: €160K Fine

April 16, 2021 - Public Notice by the Malta Financial Services Authority that it has imposed a fine of €160,000 on MC Trustees (Malta) Limited for regulatory breaches. Editor's Note: Research by OffshoreAlert in the Malta Business Registry showed that MC Trustees (Malta) Limited was incorporated in Malta on December 11th, 2009, its directors are Noel Buttigieg Scicluna, of Malta; William Daniel Dane, a citizen of the United Kingdom residing in Portugal, and Edward Thorpe, a citizen of the United Kingdom residing in Malta; its former directors include Martin Cadman, a citizen of the United Kingdom who resigned effective December 24th, 2019, and its shareholders are Christine Rhoda Grace Dane, a citizen of the United Kingdom residing in Portugal; William Dane, and MC Holdings (Malta) Limited, a Maltese company incorporated on March 14th, 2011 whose sole director is Martin Cadman and whose shareholders are Martin Cadman and Basi & Basi Financial Planning Limited, a British firm whose sole director is Michael Sudagar Basi, a citizen of the United Kingdom, and whose "persons with significant control" are Basi and Brite Advisory Group Limited, of Hong Kong.

SureFire Dividend Capture LP v. Industrial and Commercial Bank of China Financial Services LLC: Complaint

April 15, 2021 - Complaint "to recover its $46,598,676.84 redeemed interest in Broad Reach Capital, LP, a liquid hedge fund controlled by Brenda Smith that purported to invest solely in equities and option trading strategies cleared by ICBC" in SureFire Dividend Capture LP, of Montreal, Canada v. Industrial and Commercial Bank of China Financial Services LLC, of Delaware, at the Supreme Court of the State of New York, County of New York.

Donald Turnbull v. JPMorgan Chase & Co.: Complaint to Protect Against Retaliation in Fraud Cases

April 13, 2021 - Complaint to Protect Against Retaliation in Fraud Cases in Donald Turnbull, who alleges he was "fired ... from his job as a commodities trader because, by cooperating in good faith with a federal investigation into the Bank's trading practices" v. JPMorgan Chase & Co. at the U. S. District Court for the Southern District of New York.

Portugal: Wilson Freitas de Barros et al

April 09, 2021 - Application for the appointment of a Commissioner to collect evidence from Citibank and Bank of America - pursuant to a request for judicial assistance from Portugal - for use in a criminal investigation into Wilson Freitas de Barros and "other unknown subjects" for suspected fraud and money laundering.

Credit Suisse Securities (USA) LLC v. Does: Motion for Discovery from Google LLC

April 08, 2021 - Credit Suisse's Ex Parte Motion for Emergency Order to take discovery from Google LLC "in its effort to thwart the on-going multi-national disclosure of proprietary and highly confidential former employee data" in Credit Suisse Securities USA LLC v. Does at the U. S. District Court for the Northern District of California.

Credit Suisse Securities (USA) LLC v. Does: Complaint

April 08, 2021 - Complaint alleging hackers "misappropriated from Plaintiff's computer systems and databases extremely sensitive and confidential personal data relating to certain former employees of Credit Suisse" in Credit Suisse Securities (USA) LLC, of Delaware, described as "a U.S. subsidiary of Credit Suisse Group AG, a global wealth manager and investment bank with operations in over 50 countries and approximately 50,000 employees worldwide" v. Does at the U. S. District Court for the Northern District of California.

The Liverpool LP v. JPMorgan Chase & Co.: Discovery Application (April 8, 2021)

April 08, 2021 - Application by The Liverpool Limited Partnership, of Bermuda, to take discovery from JPMorgan Chase & Co. for use in a foreign "appraisal proceeding", filed at the U. S. District Court for the Southern District of New York.

Bank Leumi USA v. Trade Finance Trust et al: Complaint

April 05, 2021 - Complaint for Interpleader regarding "the remainder of what was at one time several dozen accounts at the Bank opened by an affiliate of International Investment Group, LLC, a now defunct investment advisor accused by the Securities and Exchange Committee of perpetrating a fraud akin to a Ponzi scheme" in Bank Leumi USA v. Trade Finance Trust, described as "a Delaware Statutory Trust"; IIG Trade Finance LLC, of New York, as Administrator of Trade Finance Trust; IIG Bank (Malta) Ltd., of Malta; Girobank International N.V., of Curaçao; Girobank N.V., of Curaçao; Valerie P. Maria, of Curaçao, as the Foreign Representative of IIG Trade Opportunities Fund Ltd.; Christopher Kennedy and Alexander Lawson, both of the Cayman Islands, as Joint Liquidators of IIG Global Trade Finance Fund Ltd. and IIG Structured Trade Finance Fund Ltd.; TriLinc Global Impact Fund LLC, of Delaware, and TriLinc Global Impact Fund - Trade Finance Ltd., of the Cayman Islands, 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.