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InterTrader Ltd.: Fine

December 11, 2020 - Public  Statement by the Guernsey Financial Services Commission that InterTrader Limited, of Gibraltar, "has agreed to pay a financial penalty" of an undisclosed amount to settle a regulatory investigation.

Vivaro Ltd.: €733K Fine & Appeal

October 02, 2020 - Public Notice by the Malta Financial Intelligence Analysis Unit that it has imposed a fine of €733,160 on Vivaro Ltd., described as a "Remote Gaming Operator", for regulatory breaches and that its decision has been appealed.

Playbay Malta Ltd.: €58K Fine

September 16, 2020 - Public Notice by the Malta Financial Intelligence Analysis Unit that it has imposed a fine of €58,757 on Playbay Malta Ltd., described as a "Remote Gaming Supervisor", for regulatory breaches.

Unikrn, Inc.: $6.1M Penalty

September 15, 2020 - Administrative Order imposing a $6.1 million penalty on Unikrn, Inc., described as Delaware-domiciled, Washington State-based "operator of an online eSports gaming and gambling platform", regarding an unregistered securities offering of a digital token known as UnikoinGold that, inter alia, involved Bermuda-domiciled Unikrn Bermuda Ltd., before the U. S. Securities and Exchange Commission. Editor's Note: Registers of Directors & Officers and Members for Unikrn Bermuda Ltd. that were obtained by OffshoreAlert from the company's registered agent in 2018 showed that, as of August 16, 2018, the sole shareholder of the company was Unikrn Inc. and that its directors were David Antivilo, of Las Vegas, Nevada, who was also Chief Compliance Officer; Kingsley Edwards, of Las Vegas, Nevada; Christopher G. Garrod, and Jacqueline King, both of Bermuda. On the Government of Bermuda's website, the current directors of the company are identified as Karl Flores, of Australia; Rahul Sood, of Washington State, USA; Christopher Garrod, and Jacqueline King. On Unirkn's website at, it is stated that the group was "Established in 2014 as a collaboration between Rahul Sood and Karl Flores".

Codere Finance 2 (UK) Ltd.: Chapter 15 Petition

September 14, 2020 - Chapter 15 Petition for Recognition of a Foreign Main Proceeding in England by Manuel Martinez-Fidalgo, as the Foreign Representative of Codere Finance 2 (UK) Limited, described as being part of a group that "is a leading international gaming operator" and whose parent's shares "are listed on the Madrid stock exchange", at the U. S. Bankruptcy Court for the Southern District of New York.

'Virtual casino' firm Crypto Meca has registration revoked in Isle of Man

March 24, 2020 - The Isle of Man Financial Services Authority has revoked the registration of South Korea-based Crypto Meca Ltd., which solicited investors' funds last year purportedly to finance the development of a virtual casino platform that has not been launched.

Andrew Green v. Betfred Gibraltar Ltd.: Plaintiff's Reply

July 22, 2019 - Plaintiff's Reply in Andrew Green v. Petfre (Gibraltar) Ltd., d.b.a. Betfred, at the High Court of Justice for England and Wales.

Scientific Games Corp. et al v. Sylebra HK Company Ltd. et al: Notice of Removal

July 11, 2019 - Notice of Removal, including a copy of a complaint alleging "inquiries or investigations into Sylebra" by gaming regulators in Canada, Alderney in the Channel Islands, Malta, the United Kingdom, and the United States, in Scientific Games Corporation and Bally Gaming Inc., both of Nevada v. Sylebra HK Company Ltd., of Hong Kong; Sylebra Capital Management Limited, Sylebra Capital Partners Master Fund Limited, Sylebra Capital Partners (Offshore) Limited, and Sylebra Capital Partners (Onshore) Limited, all of the Cayman Islands, at the U. S. District Court for the District of Nevada.

Andrew Green v. Betfred Gibraltar: Defense

May 30, 2019 - Defense in Andrew Green v. Petfre (Gibraltar) Ltd., d.b.a. Betfred, at the High Court of Justice for England and Wales.

Bermuda Mechanics Beneficial Association v. Seahorses Ltd.: Writ of Summons

May 06, 2019 - Specially Endorsed Writ of Summons for alleged unpaid rent in Bermuda Mechanics Beneficial Association v. Seahorses Limited, a Bermuda bookmaking/betting firm, at Bermuda Supreme Court.

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.