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UAE 'gold supplier' SION Trading sued for '$5M fraud'

January 21, 2021 - UAE-domiciled purported gold supplier SION Trading FZE, which has been implicated in several fraudulent schemes, including a cryptocurrency scam involving Bermuda-based Arbitrade, is being sued in Utah along with individuals and firms in or from Barbados, Canada, England, Panama, St. Lucia, and the USA for allegedly perpetrating a $5 million 'advance fee' fraud.

Anthony Pauwels v. Bit Digital, Inc. et al: Class Action Complaint

January 20, 2021 - Class Action Complaint alleging fraud in Anthony Pauwels v. Bit Digital, Inc., described as a Cayman Islands-domiciled "holding company that purports to engage in the bitcoin mining business through its wholly owned subsidiaries in U.S. and Hong Kong" and whose shares are listed on NASDAQ; Min Hu, and Erke Huang at the U. S. District Court for the Southern District of New York.

Blackbird Capital LLC v. SION Trading FZE et al: Complaint

January 20, 2021 - Complaint alleging fraud in Blackbird Capital LLC, of Iowa v. Worth Group Capital LLC, of Wyoming; Justin Ely, of Utah; Halls Law Office, of Idaho; Scotia International of Nevada, Inc., of Utah; Sion Trading FZE, of Ras Al Khaimah, in the United Arab Emirates; Max Warren Barber, of Utah; NaPo Limited, described as "a company located and incorporated in Bridgetown, Barbados, and Saint Lucia"; Nikolas Korakianitis, described as a citizen of Canada; GT Foundation, described as "a private interest foundation founded in Panama City, Panama" that "may have an office in London, England and/or New York", and Kumar Singh at the U. S. District Court for the District of Utah.

VTB Bank PJSC v. Mikhail Babel: $43M Judgment

January 20, 2021 - Judgment for $43 million in VTB Bank PJSC, of Russia v. Mikhail Aleksandrovich Babel, a.k.a. Michael Babel, described as a citizen of Russia, at the Supreme Court of the State of New York, County of Kings.

Poland: Eugeniusz Karczewski

January 19, 2021 - Application for the appointment of a Commissioner to collect evidence from the Bank of America - pursuant to a request for judicial assistance from Poland - for a criminal investigation into Eugeniusz Karczewski for suspected fraud.

Eagle Hospitality Trust, Singapore et al: Chapter 11 Petition

January 18, 2021 - Chapter 11 Petition by ASAP Cayman Atlanta Hotel LLC, of the Cayman Islands; ASAP Cayman Denver Tech LLC, of the Cayman Islands; ASAP Cayman Salt Lake City Hotel LLC, of the Cayman Islands; ASAP Salt Lake City Hotel, LLC, of Singapore; Atlanta Hotel Holdings, LLC, of Singapore; CI Hospitality Investment, LLC, of the Cayman Islands; Eagle Hospitality Trust S1 Pte. Ltd., of Singapore; Eagle Hospitality Trust S2 Pte. Ltd., of Singapore; EHT Cayman Corp Ltd., of the Cayman Islands; EHT US1, Inc., of Delaware; 5151 Wiley Post Way, Salt Lake City, LLC, of Salt Lake City, Utah; Sky Harbor Atlanta Northeast, LLC, of Atlanta, Georgia; Sky Harbor Denver Holdco, LLC, of Singapore; Sky Harbor Denver Tech Center, LLC, of Greenwood Village, Colorado; UCCONT1, LLC, of Orlando, Florida; UCF 1, LLC, of Anaheim, California; UCHIDH, LLC, of Denver, Colorado; UCRDH, LLC, of Denver, Colorado; Urban Commons 4th Street A, LLC, of San Jose, California; Urban Commons Anaheim HI, LLC, of Anaheim, California; Urban Commons Bayshore A, LLC, of San Mateo, California; Urban Commons Cordova A, LLC, of Pasadena, California; Urban Commons Danbury A, LLC, of Danbury, Connecticut; Urban Commons Highway 111 A, LLC, of Palm Desert, California; Urban Commons Queensway, LLC, of Long Beach, California; Urban Commons Riverside Blvd., A, LLC, of Sacramento, California, and USHIL Holdco Member, LLC, of Singapore, at the U. S. Bankruptcy Court for the District of Delaware.

SEC v. William Stack: Complaint

January 15, 2021 - Complaint alleging fraud in U. S. Securities and Exchange Commission v. William Andrew Stack, described as a lawyer and "nominal chief executive officer, president, treasurer, secretary, and director of Preston Corp., a penny stock issuer that purported to provide royalty financing to gold mining operations" whose "control person" was William S. Marshall, a resident of Canada and Mexico, at the U. S. District Court for the Western District of Texas.

CommScope Holding Company Inc. et al v. Siemens Canada Ltd.: Discovery Application

January 15, 2021 - Application by CommScope Holding Company, Inc., CommScope Inc., ARRIS US Holdings Inc., Ruckus Wireless Inc., Hewlett Packard Enterprise Company, Aruba Networks LLC, and NETGEAR Inc. to take discovery from Siemens Canada Limited for use in proceedings before the U.S. International Trade Commission involving Q3 Networking LLC, filed at the U. S. District Court for the District of Columbia.

Daniel Snyder v. Verizon Communications Inc.: Discovery Application

January 15, 2021 - Application by Daniel Snyder, described as "a businessman and philanthropist best known for his majority ownership of the Washington Football Team", to take discovery from Verizon Communications Inc. regarding "customer" John A. Moag, Jr., described as "the principal of Moag & Co. LLC, a boutique sports investment banking firm that was engaged by the minority owners of the Washington Football Team", for use in legal proceedings in India in which Snyder has alleged defamation for "a series of false and defamatory “news” articles ... accusing Petitioner of sexual misconduct, such as involvement in sex trafficking, and a purported affiliation with sexual predator Jeffrey Epstein", filed at the U. S. District Court for the District of New Jersey.

Frank Gallo v. Nielsen Holdings Plc et al: Class Action Complaint

January 15, 2021 - Class Action Complaint in Frank Gallo v. Nielsen Holdings Plc, described as a British "global measurement and data analytics company providing a view of consumers and markets worldwide" and whose shares are listed on the New York Stock Exchange; James A. Attwood, Jr., David Kenny, Thomas H. Castro, Guerrino de Luca, Karen M. Hoguet, Harish Manwani, Janice Marinelli Mazza, Jonathan Miller, Robert C. Pozen, David Rawlinson, Nancy Tellem, Javier G. Teruel, and Lauren Zalaznick at the U. S. District Court for the Central 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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UAE 'gold supplier' SION Trading sued for '$5M fraud'
UAE-domiciled purported gold supplier SION Trading FZE, which has been implicated in several fraudulent schemes, including a cryptocurrency scam involving Bermuda-based Arbitrade, is being sued in Utah along with individuals and firms in or from Barbados, Canada, England, Panama, St. Lucia, and the USA for allegedly perpetrating a $5 million 'advance fee' fraud.
LATEST ARTICLES & DOCUMENTS  
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.