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CRYPTOCURRENCIES

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Fei Jing et al v. Yan Sun: Complaint

April 28, 2021 - Complaint alleging "an illegal, unregistered and unlicensed Bitcoin trading operation" in Fei Jing, of Canada; Luosu Li, of China; Jinyu He, of California; Duanyang Wang, of China; Tian Lan, of Washington, and Chuyao Feng, of Georgia, USA v. Yan Sun, of New York, at the U. S. District Court for the Eastern District of New York.

Konstantin Zeva v. Ebang International Holdings Inc. et al: Class Action Complaint

April 20, 2021 - Class Action Complaint alleging fraud in Konstantin Zeva v. Ebang International Holdings Inc., described as a Cayman Islands-domiciled, China-based firm that "purports to be a leading application-specific integrated circuit chip design company and a leading manufacturer of Bitcoin mining machines" and whose shares are listed on NASDAQ; Dong Hu, and Lei Chen at the U. S. District Court for the District of New Jersey.

SEC v. Sheng-Wen Cheng: Complaint

April 20, 2021 - Complaint alleging "misappropriation of investor funds and material misrepresentations in connection with the offering of equity and digital asset securities to investors in Alchemy Finance, Inc., Alchemy Company, Ltd., and Alchemy Coin, Ltd.", which are domiciled in Delaware and Hong Kong, in U. S. Securities and Exchange Commission v. Sheng-Wen Cheng, of New York, USA, at the U. S. District Court for the Southern District of New York.

Jason Denny v. Canaan Inc. et al: Class Action Complaint

April 15, 2021 - Class Action Complaint alleging fraud in Jason Denny v. Canaan Inc., described as a Cayman Islands-domiciled, China-based company that "designs, manufactures and sells bitcoin mining machines" whose shares are listed on NASDAQ; Nangeng Zhang, and Tong He at the U. S. District Court for the Southern District of New York.

Guernsey regulator suspends investment fund Remus Horizons

April 15, 2021 - The registration of investment fund Remus Horizons PCC Limited, which is part of a group that includes individuals and companies in or from Australia, England, Guernsey, Hong Kong, India, Ireland, Italy, Texas, and the United Arab Emirates, has been suspended by the Guernsey Financial Services Commission less than five months after it was granted.

Victor Cook v. Coinsquare Ltd.: Complaint

April 09, 2021 - Complaint alleging fraud in Victor J. Cook, of West Palm Breach, Florida, individually and as the Current Members' Representative of AltPay Holdings LLC v. Coinsquare Ltd., described as a Canadian company that "operates a crypto asset trading platform that facilitates the buying and selling of crypto assets, including bitcoin, litecoin and ether" and whose shares are listed on the Toronto Stock Exchange, at the U. S. District Court for the Southern District of Florida.

Tommie Zaker v. Ebang International Holdings Inc. et al: Class Action Complaint

April 08, 2021 - Class Action Complaint alleging fraud in Tommie Zaker v. Ebang International Holdings Inc., described as a Cayman Islands-domiciled, China-based company that "purports to be a leading application-specific integrated circuit chip design company and a leading manufacturer of Bitcoin mining machines"; Dong Hu, and Lei Chen at the U. S. District Court for the Southern District of New York.

H.C. Wainwright & Co. LLC v. Argo Blockchain Plc: Complaint

April 07, 2021 - Complaint alleging breach of contract H.C. Wainwright & Co. LLC, described as "one of the country's oldest and most trusted financial institutions" v. Argo Blockchain Plc, described as an English company based in Canada that is "a global leader in cryptocurrency mining services", at the Supreme Court of the State of New York, County of New York.

USA v. Circle Internet Financial Inc.: 'John Doe' Summons

March 30, 2021 - USA's Ex Parte Petition for Leave to Serve an IRS 'John Doe' Summons on "Circle Internet Financial Inc., or its predecessors, subsidiaries, divisions, affiliates, including Poloniex LLC" as part of an investigation into suspected cryptocurrency-related tax fraud, filed at the U. S. District Court for the District of Massachusetts.

USA v. Kraken: 'John Doe' Summons

March 30, 2021 - USA's Ex Parte Petition for Leave to Serve IRS 'John Doe' Summons on Payward Ventures Inc. and subsidiaries, d.b.a. Kraken or Kraken.com, as part of "an investigation to determine the correct federal income tax liabilities for taxable years 2016-2020 of United States taxpayers who have conducted transactions in cryptocurrency", filed at the U. S. District Court for the Northern District of California.

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.