Daily news, documents and intelligence about Offshore Financial Centers and those who conduct business in them that you will not find anywhere else.


eMail Alerts  

Sign-Up for eMail Alerts

RSS Feed  

Subscribe to feed

Cayman-based Andy McAlpine flies to California to face securities fraud charges

September 26, 2020 - Cayman Islands-based Canadian Andrew McAlpine flew this morning from Florida, where he was arrested on September 18th, to California, where he was criminally indicted nearly nine months ago for alleged securities fraud.

USA v. Andrew McAlpine: Bond Hearing Minutes

September 26, 2020 - Clerk's Minutes of Bond Hearing in USA v. Andrew McAlpine, a citizen of Canada residing in the Cayman Islands, at the U. S. District Court for the Middle District of Florida.

Natixis Investment Managers S.A.: €27K Fine

September 24, 2020 - Public Statement by the Luxembourg CSSF that it has imposed a fine of €27,000 on Natixis Investment Managers S.A. for regulatory breaches.

Quamvest S.A.: €23K Fine

September 24, 2020 - Public Statement by the Luxembourg CSSF that it has imposed a fine of €23,000 on Quamvest S.A. for regulatory breaches.

Notz, Stucki Europe S.A.: Warning

September 24, 2020 - Public Statement by the Luxembourg CSSF that it has imposed "a warning on the investment fund manager Notz, Stucki Europe S.A." for regulatory breaches.

BMW et al: $18M Fine

September 24, 2020 - Administrative Order imposing a fine of $18 million in U. S. Securities and Exchange Commission v. Bayerische Motoren Werke Aktiengesellschaft, of Germany; BMW of North America, LLC and BMW US Capital, LLC, both of Delaware, regarding "inaccurate disclosures ... of its retail vehicle sales volume in the United States".

Marex Spectron International, Ltd.: $120K Fine

September 23, 2020 - Administrative Order imposing a fine of $120,000 on Marex Spectron International, Ltd., of England, described as "a registered introducing broker".

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.

US founders used insolvent Cayman insurer as 'piggy bank', claims regulator

September 23, 2020 - Florida residents Jorge Falcon and Leonardo Cornide used insolvent Cayman Islands-domiciled Premier Assurance Group SPC as their own "piggy bank", Cayman's financial regulator has claimed.

Premier Assurance Group SPC Ltd.: Public Notice

September 23, 2020 - Public Notice by the Cayman Islands Monetary Authority announcing it has appointed Jeffrey Stower and Jason Robinson, of KPMG, to assume control of Premier Assurance Group SPC Ltd. and "found Jorge Eduardo Falcon and Leonardo Cornide, two of Premier's directors, not fit and proper to hold the position of director of a licensee".

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.

View Recent Digests

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.