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Malta FSA cancels AIS Capital's investment license

March 31, 2020 - The Malta Financial Services Authority has cancelled the investment license of AIS Capital Management Investment Fund SICAV PLC, whose directors are Briton Paul Chandler and American/Maltese Richard Wight.

deVere & Partners Holding Ltd.: Fine

March 30, 2020 - Announcement by the Malta Financial Services Authority that it has imposed an administrative penalty of €23,000 against deVere & Partners Holding Limited for providing "insurance distribution activities" without a license. Editor's Note: Research by OffshoreAlert showed that, in the Malta Business Registry, the sole director of deVere & Partners Holding Limited is identified as Beverley Yeomans, described in filings as a citizen of Malta, and the shareholders are identified as deVere Group Limited, of Dubai, and Nigel James Green, also described as a citizen of Malta.

Dario Item et al: Regulatory Update

March 24, 2020 - Update by the Labuan Financial Services Authority regarding a lessening of previously-imposed penalties against Dario Item, a London-based, Swiss attorney who serves as Antigua and Barbuda's Ambassador to Spain, Monaco, and Liechtenstein; Andrea Mezzi, a citizen of Italy; Mauro Giacomo Silva, a citizen of Italy; Blue Investment Bank Inc., and Blue Wealth Management Ltd., including the cessation of corporation disqualifications.

'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.

AIS Capital Management Investment Fund SICAV Plc: License Cancellation

March 23, 2020 - Announcement by the Malta Financial Services Authority that it has cancelled the collective investment scheme license of AIS Capital Management Investment Fund SICAV Plc. Editor's Note: Research by OffshoreAlert showed that, in the Malta Business Registry, the company's directors are identified as Paul Simon Chandler, a citizen of the United Kingdom, and Richard Thomson Wight, a dual citizen of the United States and Malta, while previous directors were Timothy Andrew Sharman, a citizen of the United Kingdom; Noel Vella, and Benjamin Muscat, both of Malta.

SEC v. Todd Lahr et al: Complaint

March 23, 2020 - Complaint alleging securities fraud in U. S. Securities and Exchange Commission v. Todd Lahr, of Pennsylvania, and Thomas Megas, described as "a British national and resident of Verbier, Switzerland", at the U. S. District Court for the Eastern District of Pennsylvania.

Crypto Meca Ltd.: Registration Revocation

March 19, 2020 - Announced by the Isle of Man Financial Services Authority that the registration of Crypto Meca Limited was revoked for "failure to pay the annual fee".

KlickDeals GmbH: Public Warning

March 19, 2020 - Public Warning by the Swiss Financial Market Supervisory Authority regarding KlickDeals GmbH, which is "suspected of conducting unauthorised activities in the financial market. Editor's Note: Research by OffshoreAlert showed that, in filings with the Swiss Commercial Registry, KlickDeals GmbH's Managing Director and shareholder is identified as Habteyesus Hailemelekot, of Eritrea, having taken over from previous MD and shareholder Katerina Atanasova, of Bulgaria, in 2017.

SEC v. Scott Hirsch et al: Complaint

March 17, 2020 - Complaint alleging insider trading involving PedMed Express, Inc., a.k.a. 1800-PedMeds, in U. S. Securities and Exchange Commission v. Scott O. Hirsch and Kenneth L. Friedman, both of Delray Beach, Florida, at the U. S. District Court for the Southern District of Florida.

SEC v. Denis Sotnikov et al: Complaint

March 13, 2020 - Complaint regarding alleging investment fraud involving, inter alia, a bank account in Hong Kong and a domain name registered in Cyprus in U. S. Securities and Exchange Commission v. Denis Georgiyevich Sotnikov, a citizen of Russia residing in Florida; Adaptive Technology LLC, AGQ Business Group LLC, ATL Business Group LLC, BO&SA Corporation, DN Industrial LLC, and Expert Digital LLC, as Defendants, and Natalia Aleksandrovna Mazitova, a citizen of Russia; Great Imperial LLC, HRC Clearing House LLC, and Inteko Cargo LLC, as Relief Defendants, at the U. S. District Court for the District of New Jersey.

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.