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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.

SECURITIES & INVESTMENT

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SEC v. Jon Aronson et al: Complaint

February 14, 2020 - Complaint alleging securities fraud regarding Validus Holdings Ltd., of Bermuda, in U. S. Securities and Exchange Commission v. Jon L. Aronson and Elliet N. Aronson, both of Massachusetts. at the U. S. District Court for the Southern District of New York.

'I was never involved in fraud of any kind,' writes Alexander Martin

February 12, 2020 - Letter to OffshoreAlert from Alexander Martin, a citizen of the United Kingdom. requesting the removal of a 'Preliminary Investigation Report' regarding his arrest in Spain in 2013 for suspected involvement in a boiler room whose participants allegedly sold fraudulent investment products to the public.

Canadian Troy Hogg sued for fraud twice by Hollywood movie insiders

February 10, 2020 - Two lawsuits alleging fraud and breach of contract regarding the movie industry in Hollywood have been filed in Los Angeles against Canadian Troy Hogg, whose scams include Bermuda cryptocurrency firm Arbitrade.

Corrupt Antiguan ex-regulator Leroy King admits receiving bribes of $500K from fraudster Allen Stanford

February 10, 2020 - Corrupt ex-Antigua financial regulator Leroy King, 74, faces up to five years in prison in the US after admitting receiving over $500,000 in cash and tickets to two Super Bowls from $7 billion fraudster Allen Stanford in return for turning a blind eye to his activities and obstructing an investigation by the SEC

Charitable Donor Advised Fund LP et al v. U.S. Bank NA et al: Complaint

February 06, 2020 - Complaint regarding collateralized loan obligations in The Charitable Donor Advised Fund LP, described as "a charitable partnership whose charitable non-profit beneficiaries include the Dallas Foundation, the Greater Kansas City Community Foundation, the Santa Barbara Foundation and the North Texas Community Foundation", and CLO HoldCo Ltd., both of the Cayman Islands v. U.S. Bank NA, of Chicago, IL; Moody's Investors Service Inc., of Delaware; ACIS Capital Management LP, of Delaware; Brigade Capital Management LP, of Delaware, and Joshua N. Terry, of Texas, at the U. S. District Court for the Southern District of New York.

Suspected fraudster Mark Nordlicht accused of 'hiding assets' in Cook Islands trust

February 06, 2020 - In a lawsuit by two investors, suspected Platinum Partners fraudster Mark Nordlicht has been accused of "hiding" tens of millions of dollars in a Cook Islands trust and other offshore structures to make himself "judgment proof" against claims from creditors.

John Byrne v. Westpac Banking Corp. et al: Class Action Complaint

January 30, 2020 - Class Action Complaint alleging fraud in John Byrne v. Westpac Banking Corporation, of Australia; Brian Charles Hartzer, and Peter Francis King at the U. S. District Court for the District of Oregon.

ANZ Commodity Trading Pty Ltd. v. Jolly Admire Ltd. et al: Stop Notice Re. Shares in United Biopharma

January 29, 2020 - Stop Notice "arising out of a commodities trading fraud perpetrated against the applicant" by ANZ Commodity Trading Pty Ltd., of Australia, regarding shares in United Biopharma (Holdings) Co. Limited beneficially owned by Jolly Admire Limited, of the British Virgin Islands, and High Express Holdings Limited, of Hong Kong, filed at the Grand Court of the Cayman Islands.

Green Capital Group SA: Public Warning

January 27, 2020 - Public Warning by the Swiss Financial Market Supervisory Authority regarding Green Capital Group SA, which is "suspected of conducting unauthorised activities". Editor's Note: Research by OffshoreAlert showed that, in the Swiss Commercial Registry, the authorized representative of Green Capital Group SA is Marc-André Leuthold, of Genève. On its website at https://www.greencapitalgroup.eu/, Green Capital Group offers several dubious investment schemes, including those with purported returns of 3% per month and 15% per year.

Ardent Harmony Fund Inc. et al v. Nancy Marie Barrick: Complaint

January 24, 2020 - Complaint in Ardent Harmony Fund Inc. (in Liquidation) and Argyle Funds SPC Inc. (in Liquidation), both of the Cayman Islands v. Nancy Marie Barrick, of Lloyd Harbor, NY, at the U. S. Bankruptcy Court for the Eastern District of New York.

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.