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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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Ontario Securities Commission v. Adriana Rios Garcia: Discovery Application

September 23, 2020 - Ex Parte Application by the Ontario Securities Commission to take discovery from Adriana Rios Garcia, a.k.a. Adriana Shaw, described as a resident of Miami and Colombia and the "principal" of Global Bioenergy Resource SAS, of Colombia, for use in "proceedings before the Commission" against First Global Data Ltd., Global Bioenergy Resources Inc., Nayeem Ali, Maurice Aziz, Harish Bajaj, and Andre Itwaru for alleged fraud, filed at the U. S. District Court for the Southern District of Florida.

Piraeus Bank SA v. NASDAQ et al: Discovery Application

September 23, 2020 - Application by Piraeus Bank SA, of Greece, to take discovery from The NASDAQ Stock Market LLC and OTC Markets Group for use in "an anticipated foreign judicial proceeding that will be commenced by Piraeus against Newlead Holdings, Ltd. [of Bermuda] before the High Court of Justice, Business and Property Courts of England and Wales, Commercial Court pursuant to a Guarantee and Indemnity agreement", filed at the U. S. District Court for the Southern District of New York.

SEC v. Verley Sembritzky, Jr. et al: Complaint

September 22, 2020 - Complaint alleging securities fraud in U. S. Securities and Exchange Commission v. Verley Lee Sembritzky, Jr., of Houston, Texas; Bounty of the Ocean Inc., of the Bahamas, and Ocean Harvest LLC, of Delaware, at the U. S. District Court for the Southern District of Texas.

Martin LLP v. Sussex Investments BVI Co. et al: Complaint

September 22, 2020 - Complaint in Martin LLP, a law firm in Connecticut v. Sussex Investments BVI Co., of the British Virgin Islands, and Maggie Ann Stocker at the Superior Court for the Judicial District of Stamford-Norwalk, in Stamford, Connecticut.

SEC v. Ongkaruck Sripetch et al: TRO Motion

September 22, 2020 - SEC's Ex Parte Application for Temporary Restraining Order Freezing Assets and Granting Other Relief against Ongkaruck Sripetch, Brehnen Knight, Amanda Flores, and Ashmit Patel in U. S. Securities and Exchange Commission v. Ongkaruck Sripetch, of Las Vegas, NV; Amanda Flores, of Las Vegas, NV; Brehnen Knight, of Escondido, CA; Andrew McAlpine, a citizen of Canada residing in the Cayman Islands; Ashmit Patel, a citizen of Canada residing in Ontario; Michael Wexler, a citizen of Canada residing in Ottawa; Dominic Williams, of Bonita, CA; Adtron Inc., a.k.a. Stockpalooza.com, of Nevada; ATG Inc., of Nevada; DOIT Ltd., domicile not specified; Doji Capital, Inc., of California; King Mutual Solutions Inc., of Nevada; Optimus Prime Financial Inc., of California; Orca Bridge, of Nevada; Redline International, of Nevis and California, and UAIM Corporation, of Belize, at the U. S. District Court for the Southern District of California.

Germany: Stefan Greiner et al

September 22, 2020 - Application for the appointment of a Commissioner to collect evidence from Wells Fargo Bank - pursuant to a request for judicial assistance from Germany - for a criminal investigation into "unknown subjects for fraud", described as "purported Swiss stockbrokers using the name Stefan Greiner and Martin Gerler".

Hematite Holdings Inc. et al: Chapter 15 Petition

September 22, 2020 - Chapter 15 Petition for Recognition of a Foreign Main Proceeding in Canada by John Pavanel, as the Foreign Representative of Hematite Holdings Inc., Hematite Industrial Products Inc., Hematite Manufacturing Inc., Canadian Pavaco Inc., Pavaco Holdings U.S. Inc., Hematite, Inc., and Hematite Automotive Products Inc., described as being part of a group that is "primarily a tier 1 supplier of component parts to the automotive manufacturing industry and counts Toyota, Fiat Chrysler Automobiles and Ford among its major customers", at the U. S. Bankruptcy Court for the District of Delaware.

Premier Assurance Group SPC Ltd.: Chapter 15 Petition

September 22, 2020 - Chapter 15 Petition for Recognition of a Foreign Main Proceeding in the Cayman Islands by Jeffrey Stower and Jason Robinson, as the Foreign Representatives of Premier Assurance Group SPC Ltd. (in Controllership), at the U. S. Bankruptcy Court for the Southern District of Florida. Editor's Note: The "Foreign Main Proceeding" in this matter, which includes allegations of fraud, was filed under seal at the Grand Court of the Cayman Islands on September 17th, 2020 and remains sealed as of today, with the entry in the Court's public register reading "Confidential Matter". It is often only when Cayman insolvency practitioners seek recognition in the United States that the mere existence of cases becomes publicly-known.

Cayman penny stock broker Andy McAlpine arrested in US for alleged fraud

September 22, 2020 - Penny stock broker Andrew McAlpine, a Canadian living in the Cayman Islands, is in custody in the U.S. after being criminally indicted for securities fraud. He's also one of 16 individual and corporate defendants accused of a $6M fraud "involving at least 20 penny stock companies" in a related SEC civil complaint.

SEC v. Andrew McAlpine et al: Complaint

September 21, 2020 - Complaint alleging the defendants "worked in concert to engage in numerous fraudulent schemes and other violations of the federal securities laws, involving at least 20 penny stock companies" in U. S. Securities and Exchange Commission v. Ongkaruck Sripetch, of Las Vegas, NV; Amanda Flores, of Las Vegas, NV; Brehnen Knight, of Escondido, CA; Andrew McAlpine, a citizen of Canada residing in the Cayman Islands; Ashmit Patel, a citizen of Canada residing in Ontario; Michael Wexler, a citizen of Canada residing in Ottawa; Dominic Williams, of Bonita, CA; Adtron Inc., a.k.a. Stockpalooza.com, of Nevada; ATG Inc., of Nevada; DOIT Ltd., domicile not specified; Doji Capital, Inc., of California; King Mutual Solutions Inc., of Nevada; Optimus Prime Financial Inc., of California; Orca Bridge, of Nevada; Redline International, of Nevis and California, and UAIM Corporation, of Belize, at the U. S. District Court for the Southern 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.