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Former deVere USA officers settle SEC fraud complaint

July 10, 2020 - British nationals Benjamin Alderson and Bradley Hamilton have agreed to pay penalties totaling $750,000 to settle a fraud complaint by the SEC regarding their employment with investment firm deVere USA.

Benjamin Alderson: Industry Ban

July 09, 2020 - Administrative Order imposing an industry ban on Benjamin Alderson, a resident of the United Kingdom and a former CEO of deVere USA Inc., before the U. S. Securities and Exchange Commission.

SEC v. Benjamin Alderson: Final Judgment

July 08, 2020 - Final Judgment regarding an allegation that the defendant "defrauded hundreds of clients and prospective clients resident in the United States by misleading them about the benefits of irreversibly transferring their United Kingdom pensions to an offshore pension plan while concealing serious conflicts of interest" in U. S. Securities and Exchange Commission v. Benjamin Alderson, a citizen of the United Kingdom and a former employee of deVere USA, Inc., at the U. S. District Court for the Southern District of New York.

SEC v. Bradley Hamilton: Final Judgment

July 08, 2020 - Final Judgment regarding an allegation that he "defrauded hundreds of clients and prospective clients resident in the United States by misleading them about the benefits of irreversibly transferring their United Kingdom pensions to an offshore pension plan while concealing serious conflicts of interest" in U. S. Securities and Exchange Commission v. Bradley Hamilton, a citizen of the United Kingdom and a former employee of deVere USA, Inc., at the U. S. District Court for the Southern District of New York.

AltaCorp Capital v. FINRA et al: Complaint

July 07, 2020 - Complaint "to permanently enjoin an arbitration" in AltaCorp Capital, of Calgary, Alberta, Canada v. Financial Industry Regulatory Authority Inc., FINRA Regulation Inc., formerly known as FINRA Dispute Resolution Inc., and John Cloghesy at the U. S. District Court for the Southern District of New York.

Deutsche Bank AG et al: $150M Fine

July 06, 2020 - Consent Order regarding "the Bank's relationship with Jeffrey Epstein" in New York Department of Financial Services v. Deutsche Bank AG, of Germany; Deutsche Bank AG, New York Branch, and Deutsche Bank Trust Company of the Americas.

CaribePay (Nevis) Ltd.: Public Warning

July 01, 2020 - Public Warning by the Nevis Financial Services Regulatory Commission that CaribePay (Nevis) Limited "is currently not licensed by the FSRC to carry on business". Editor's Note: On a website at caribepay.com, it is stated that CaribePay (Nevis) Limited, of Nevis, and CaribePay Solutions (SK) Limited, of St. Kitts, comprise 'CaribePay Solutions', which claims to be "a fast, simple, and secure cashless e-payments system being introduced to St. Kitts and Nevis". There is no information on the website about who owns and operates the company and ownership of the domain name 'caribepay.com' is concealed using a privacy service. Deon Herbert was identified as the "Owner of CaribePay" in a press release by the Nevis Island Administration on April 23rd, 2018.

HLB Mann Judd et al: Revocation, Bans & Fines

June 29, 2020 - Order by the Public Company Accounting Oversight Board fining and revoking the registration of HLB Mann Judd and barring and fining Darryl Swindells and Aidan Smith, all of Australia, for violating "rules and auditing standards"

SWM Ltd.: Public Statement

June 29, 2020 - Public Statement regarding SWM Limited by the Jersey Financial Services Commission. Editor's Note: Research by OffshoreAlert in the Jersey Financial Services Commission's Companies Registry showed that, in its most recent annual return, dated January 1st, 2020, the sole shareholder of SWM Limited was identified as SJD Holdings Limited, also domiciled in Jersey, and, in its most recent annual return, dated January 1st, 2019, the shareholders of SJD Holdings Limited were identified as Stephen Francis Le Fondre, Simon John Dowling, Kevin Peter Goodbody, Tracey Anne Freeman, and Guy John Browning, all of Jersey.

Alesia Re SPC: License Revocation

June 29, 2020 - Decision Notice by the Cayman Islands Monetary Authority revoking the Insurer License of Alesia Re SPC.

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.