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Christof Pfaff v. Deutsche Bank AG et al: Discovery Application

January 14, 2020 - Supplemental Petition by Christof Pfaff, of Germany, to take discovery from Deutsche Bank AG, of Germany; DZ Bank AG Deutsche Zentral-Genossenschaftsbank, of Germany, and Commodity Exchange, Inc., d.b.a. COMEX, of New York, for use in legal proceedings in Germany alleging fraud against Deutsche Bank, filed at the U. S. District Court for the Southern District of New York.

XiO Fund LLP v. Silicon Valley Bank: Discovery Application

January 14, 2020 - Application by Gwynn Hopkins, of Perun Consultants Limited, in Hong Kong, and Gordon MacRae, of Kalo (Cayman) Limited, of the Cayman Islands, as Joint and Several Interim Receivers of XiO Fund LLP, of the Cayman Islands, to take discovery from Silicon Valley Bank for use in legal proceedings in the Cayman Islands, filed at the U. S. District Court for the Northern District of California. Editor's Note: This discovery application includes, as an exhibit, a copy of the underlying complaint alleging fraud involving hundreds of millions of dollars that was filed under seal at the Grand Court of the Cayman Islands on May 8th, 2019 and, eight months later, remains sealed as part of the Cayman Court's secretly-imposed mass-sealing policy - implemented by Chief Justice Anthony Smellie - that conceals from public view even the existence of many cases involving allegations of impropriety and insolvency against the jurisdiction's hedge funds.

Romania: Gigi-Vadik Zavera et al

January 13, 2020 - Application for the appointment of a Commissioner to collect evidence from Bank of America, Citibank, and First Federal Savings Bank - pursuant to a request for judicial assistance from Romania - for a criminal investigation into Gigi-Vadik Zavera, Cornel Pana, and Gabriel Soreav for suspected "setting up an organized crime group, computer intrusion, performance of fraudulent financial operations, illegal operations with information devices or software, counterfeiting bonds or payment instruments, circulation of counterfeited securities, and possession of tools used for the counterfeit of securities".

Azattyk Media Institution v. Deutsche Bank Trust Company Americas: Discovery Application

January 09, 2020 - Application by Azattyk Media Institution to take discovery from Deutsche Bank Trust Company Americas for use defending a libel action filed in Kyrgyzstan by Iskender Ismailovich Matraimov, Raimbek Ismailovich Matraimov, Minovar Shabyevna Jumaeva, Uulkan Sulaymanovna Turgunova, and Ismail Matraimov Foundation, all of Kyrgyzstan, against Ali Toktakunov, of the Czech Republic; Azattyk Media Institution, Kloop Media Public Foundation, and 24 kg Information Agency, all of Kyrgyzstan, filed at the U. S. District Court for the Southern District of New York.

USA v. HSBC Private Bank (Suisse) SA: Arrest Warrant for $71.85M

January 08, 2020 - Arrest Warrant for $71.85 million in USA v. HSBC Private Bank (Suisse) SA, of Switzerland, at the U. S. District Court for the Southern District of Florida.

USA v. HSBC Private Bank (Suisse) SA: $71.85M Forfeiture Complaint

January 08, 2020 - Forfeiture Complaint for $71.85 million that "represents property constituting and derived from proceeds of wire fraud" in USA v. HSBC Private Bank (Suisse) SA, of Switzerland, at the U. S. District Court for the Southern District of Florida.

Jamal Hammoud v. Société Générale de Banque au Liban: Notice of Removal

January 06, 2020 - Notice of Removal, including a copy of the complaint seeking damages of $457,224 alleging failure to execute wire transfer requests in Jamal Hammoud, described as "the majority owner and principal of Milestones Capital, LLC" v. Société Générale de Banque au Liban, of Lebanon, at the U. S. District Court for the Southern District of New York.

Union Bancaire Privée: US DoJ News Release

January 02, 2020 - News Release by the U. S. Department of Justice announcing an "Addendum to Swiss Bank Program Category 2 Non-Prosecution Agreement with Union Bancaire Privée, UBP SA".

Union Bancaire Privée: Non-Prosecution Agreement Addendum

January 02, 2020 - Addendum to Non-Prosecution Agreement under the U. S. Department of Justice's 'Swiss Bank Program' in USA v. Union Bancaire Privée.

Arab nations claim 'hundreds of millions of dollars are missing' from Cayman Islands fund

December 30, 2019 - In an application to take discovery from 12 US banks, a financial institution owned by six Arab nations claims that "hundreds of millions of dollars are missing" from a Cayman Islands investment fund that was set up to invest in "port-related assets around the world".

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.