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USA v. Executor of Marc Ratzersdorfer's Estate: Complaint

May 22, 2020 - Complaint for damages of $4 million regarding failure to disclose accounts at Swiss banks in USA v. Jane Doe, as the Executor of the Estate of Marc Ratzersdorfer, at the U. S. District Court for the District of Columbia.

USA v. Bank Hapoalim BM et al: $160M Forfeiture Complaint

May 20, 2020 - Forfeiture Complaint regarding $160 million of "gross proceeds from its scheme to defraud the United States" in USA v. Bank Hapoalim BM, of Israel, and Hapoalim (Switzerland) Ltd., of Switzerland, at the U. S. District Court for the Southern District of New York.

USA v. Panayiotis Kyriacou: Criminal Judgment

May 04, 2020 - Criminal Judgment for conspiracy to commit securities fraud and conspiracy to defraud the United States in USA v. Panayiotis Kyriacou, a.k.a. Peter Kyriacou, of England, at the U. S. District Court for the Eastern District of New York.

USA v. MMT International Holdings Ltd.: Forfeiture Complaint

May 01, 2020 - Forfeiture Complaint regarding the proceeds of an alleged tax fraud and money laundering scheme by Wayne Franklyn Chinn and involving accounts and entities in Hong Kong, Liechtenstein, Panama, Singapore, and Switzerland in USA v. Funds in the name of MMT International Holdings Ltd. at Oversea-Chinese Banking Corporation and DBS Bank, both of Singapore, at the U. S. District Court for the Southern District of New York.

Bank Hapoalim BM et al: Consent Order

April 30, 2020 - Consent Order settling allegations of facilitating tax evasion in New York State Department of Financial Services v. Bank Hapoalim BM and Bank Hapoalim BM, New York Branches.

USA v. Bank Hapoalim BM et al: Plea Agreement

April 30, 2020 - Plea Agreement in USA v. Bank Hapoalim BM, of Israel, and Hapoalim (Switzerland) Ltd., of Switzerland, at the U. S. District Court for the Southern District of New York.

USA v. Bank Hapoalim BM et al: Criminal Information

April 30, 2020 - Criminal Information alleging conspiracy to defraud the United States in USA v. Bank Hapoalim BM, described as "an Israeli public company that is one of Israel's largest banks", and Hapoalim (Switzerland) Ltd., of Switzerland, at the U. S. District Court for the Southern District of New York.

USA v. Bank Hapoalim BM et al: Deferred Prosecution Agreement

April 30, 2020 - Deferred Prosecution Agreement regarding a scheme to launder the proceeds of bribery and corruption involving soccer's global governing body FIFA in USA v. Bank Hapoalim B.M., of Israel, and Hapoalim (Switzerland) Ltd., of Switzerland, at the U. S. District Court for the Southern District of New York.

Denmark's tax agency seeks discovery from BVI & Cayman firms for '$2B fraud' litigation

April 30, 2020 - Denmark's national tax agency has applied to take discovery from 21 corporate services providers in the British Virgin Islands and Cayman Islands whose clients are suspected of participating in a $2 billion tax refund fraud.

Investec Asset Finance Plc et al v. HMRC: Appeal Judgment

April 30, 2020 - Approved Judgment regarding the taxation of partnerships in Hong Kong in Investec Asset Finance Plc and Investec Bank Plc v. The Commissioners of Her Majesty's Revenue and Customs at the Court of Appeal for the Royal Courts of Justice, in England.

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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Intelligence firm Diligence accuses ex-CEO Nick Day of 'outrageous legal spending'
Intelligence and investigations firm Diligence has accused its former CEO, Nick Day, of trying to "sink the business with his outrageous legal spending" after it was forced to advance him $788,377 to satisfy legal bills that he incurred at a rate of approximately $12,500 per day in the first two months of defending a lawsuit that the company brought against him for allegedly swindling it out of "millions of dollars".
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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.