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USA v. $4.8M at Butterfield Bank: Amended Forfeiture Complaint

August 03, 2021 - Forfeiture Complaint in USA v. $4.8 million at The Bank of N.T. Butterfield & Son Limited, of Bermuda, to settle tax evasion allegations involving its Bermuda and Cayman Islands operations, filed at the U. S. District Court for the Southern District of New York.

Butterfield Bank admits 'criminal conduct', turns over client records & agrees to pay $4.8M to settle tax evasion investigation

August 03, 2021 - Butterfield Bank has agreed to forfeit $4.8 million and turned over client records as part of a Non-Prosecution Agreement with the U. S. Department of Justice in which the bank admitted "criminal conduct" by fraudulently helping U.S. taxpayers evade taxes via its Bermuda and Cayman Islands operations.

USA v. $4.8M at Butterfield Bank: Forfeiture Complaint

August 03, 2021 - Forfeiture Complaint in USA v. $4.8 million at The Bank of N.T. Butterfield & Son Limited to settle tax evasion allegations, filed at the U. S. District Court for the Southern District of New York.

Brittany Stout v. Harvest Health & Recreation Inc. et al: Complaint

July 27, 2021 - Complaint alleging violation of the Securities Exchange Act of 1934 regarding "the proposed acquisition of Harvest by Trulieve Cannabis Corp." in Brittany Stout v. Harvest Health & Recreation Inc., of Vancouver, Canada; Mark N. Barnard, Steven M. White, Elroy P. Sailor, Ana Dutra, Eula L. Adams, and Michael Scott Atkison at the U. S. District Court for the Southern District of New York.

Brittany Stout v. Harvest Health & Recreation Inc. et al: Complaint

July 27, 2021 - Complaint in Brittany Stout v. Harvest Health & Recreation Inc., of British Columbia, Canada, described as "one of the largest multi-state, vertically integrated operators in the United States cannabis industry that operates from 'seed to sale'"; Mark N. Barnard, Steven M. White, Elroy P. Sailor, Ana Dutra, Eula L. Adams, and Michael Scott Atkison at the U. S. District Court for the Southern District of New York.

Kai Jochims v. Oatly Group AB et al: Class Action Complaint

July 26, 2021 - Class Action Complaint alleging securities fraud in Kai Jochims v. Oatly Group AB, described as a Swedish company that "describes itself as the world's original and largest oatmilk company"; Toni Petersson, Christian Hanke, Fredrik Berg, Steven Chu, Ann Chung, Bernard Hours, Hannah Jones, Mattias Klintemar, Po Sing (Tomakin) Lai, Eric Melloul, Björn Öste, Frances Rathke, Yawen Wu, and Tim Zhang at the U. S. District Court for the Southern District of New York.

Daniel Feldman et al v. AS Roma SPV et al: Judgment

July 22, 2021 - Memorandum Opinion dismissing an investor complaint against the American owners of Italian soccer club AS Roma in Daniel Feldman, Jonathan Wyatt Gruber, John Charles Pope Revocable Trust, and Tierney Family Investors LLC v. AS Roma SPV GP LLC, James J. Pallotta, Richard A. D'Amore, The Ruane Irrevocable GST Trust of 2007, Shamrock Holdings of California Inc., and Raptor Holdco LLC at Delaware Chancery Court.

Donald Ramsey v. Coinbase Global Inc. et al: Class Action Complaint

July 22, 2021 - Class Action Complaint alleging "Offering Materials were inaccurate and misleading" and "contained untrue statements of material facts" in Donald Ramsey v. Coinbase Global Inc., of Delaware, described as "the largest cryptocurrency exchange in the United States"; Brian Armstrong, Alesia J. Haas, Jennifer N. Jones, Surojit Chatterjee, Paul Grewal, Marc L. Andreessen, Frederick Ernest Ehrsam III, Kathryn Haun, Kelly Kramer, Gokul Rajaram, Fred Wilson, AH Capital Management LLC, Paradigm Fund LP, Ribbit Management Company LLC, Tiger Global Management LLC, Tiger Global Management LLC, Union Square Ventures LLC, and Viserion Investment Pte Ltd., of Singapore, at the U. S. District Court for the Northern District of California.

Asia Private Credit Fund v. Kiang Tien Sik David: Writ of Summons (July 2021)

July 22, 2021 - Writ of Summons in Asia Private Credit Fund (in Official Liquidation) v. Kiang Tien Sik David, of Hong Kong, at the Grand Court of the Cayman Islands.

Asia Private Credit Fund v. Adamas Global Alternative Investment Management Inc

July 22, 2021 - Writ of Summons in Asia Private Credit Fund (in Official Liquidation) v. Adamas Global Alternative Investment Management Inc. at the Grand Court of the Cayman Islands.

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.