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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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Elite Insurance Company Ltd.: Administration

December 11, 2019 - Public Statement by the Gibraltar Financial Services Commission announcing that Elite Insurance Company Limited has been found to be "insolvent" and was "placed into Administration on 11 December 2019".

Agavero Insurance Ltd.: License Revocation

December 04, 2019 - Decision Notice by the Cayman Islands Monetary Authority announcing the license revocation of Agavero Insurance Limited.

VICOF II Trust et al v. John Hancock Life Insurance Company (USA): Complaint

December 03, 2019 - Complaint in VICOF II Trust, a Delaware Statutory Trust beneficially owned by Cayman Islands-domiciled Vida Insurance Credit Opportunity Fund II, LP; Vida Longevity Fund, LP, Life Assets Trust II S.A. Delaware Trust; Vidaquant Sub-Fund Delaware Trust, Vida Insurance Fund II Series Interests of the SALI Multi-Series Fund, LP, Wells Fargo Bank, NA, DLP Master Trust, DLP Master Trust II, GWG DLP Master Trust, Life Funding Trust, PF Participation Funding Trust, and Palm Beach Settlement Company v. John Hancock Life Insurance Company (USA) at the U. S. District Court for the Central District of California.

Andrew Rippert v. Constantine Iordanou: Discovery Application

November 26, 2019 - Application by Andrew Rippert to take discovery from Constantine Iordanou for use in an arbitration in Bermuda against his former employer, Arch Capital Group Ltd., for alleged "wrongful termination", filed at the U. S. District Court for the Eastern District of New York.

John Mifsud: Reprimand

November 22, 2019 - Public Notice by the Malta Financial Financial Services Authority regarding a reprimand against John Mifsud.

Adrian Pace: Fine

November 22, 2019 - Public Notice by the Malta Financial Financial Services Authority regarding an administrative penalty against Adrian Pace.

Imran Siddiqui et al v. Athene Holding Ltd.: Judgment on Privy Council Application

November 22, 2019 - Judgment regarding application for Leave to Appeal to the Privy Council in Imran Siddiqui, a resident of New York; Stephen Cernich, a resident of Kentucky, and Caldera Holdings Ltd., of Bermuda v. Athene Holding Limited, of Bermuda, at Bermuda Court of Appeal.

Andrew Rippert v. Laurie Goodman: Discovery Application

November 14, 2019 - Application by Andrew Rippert to take discovery from Laurie Goodman for use in an arbitration in Bermuda against his former employer, Arch Capital Group Ltd., for alleged "wrongful termination", filed at the U. S. District Court for the Southern District of New York.

Mark Graham: Director Cancellation

October 29, 2019 - Decision Notice by the Cayman Islands Monetary Authority announcing the cancellation of the director registration of Mark R. Graham, of New York, NY, for not being "a fit and proper person". Graham was the majority equity owner of Cayman Islands-domiciled Alpha Re Limited, which has been accused of fraud.

US taxpayer admits fraud involving 'offshore Swiss insurance wrapper'

October 24, 2019 - A 74-year-old U.S. citizen faces up to 18 months in prison for failing to report $1.4 million in income that he earned from an "offshore Swiss 'insurance wrapper' policy".

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.