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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.

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Abdulhameed Dhia Jafar v. ABRAAJ Holdings et al: Complaint

September 13, 2020 - Writ of Summons and Statement of Claim for at least $267 million alleging "systematic fraud" in Abdulhameed Dhia Jafar, of Sharjah, in the United Arab Emirates v. ABRAAJ Holdings (in Official Liquidation), GHF General Partner Limited, as General Partner of GHF Fund LP, formerly Abraaj Growth Markets Health Fund LP, and GHF Fund (B) LP, formerly Abraaj Growth Markets Health Fund (B) LP; The GHF Group Limited, formerly The Abraaj Healthcare Group Limited, and Abraaj General Partner VIII Limited, as General Partner of Neoma Private Equity Fund IV LP, formerly Abraaj Private Equity Fund IV LP, all of the Cayman Islands, at the Grand Court of the Cayman Islands.

BlueBay Asset Management LLP et al v. Etihad Airways PJSC: Discovery Application

August 06, 2020 - Application by BlueBay Asset Management LLP, GML Capital LLP, IVO Capital LLP, RAI Investments PTE LTD., Sancta Capital Partners LP, Sandglass Opportunity Fund, LP, Sandglass Petrus Opportunity Fund, LP, and VR Global Partners, L.P. to take discovery from Etihad Airways PJSC, of Abu Dhabi, in the United Arab Emirates, for use in "an administrative (restructuring) proceeding currently pending before a foreign tribunal in the Republic of Italy", filed at the U. S. District Court for the Southern District of New York.

Released from prison, British fraudster now operates under new name (Sencer Orhan)

August 04, 2020 - Notorious British fraudster Sencer Sevket has changed his name after being released from prison and seemingly gone into business with a member of the ruling family in Abu Dhabi, OffshoreAlert can reveal.

USA v. Vasco Investments SA et al: Forfeiture Complaint

July 01, 2020 - Forfeiture Complaint regarding "assets involved in and traceable to an international conspiracy to, among other things, launder money misappropriated from 1Malaysia Development Berhad, a strategic investment and development company wholly-owned by the government of Malaysia"  in USA v. Funds allegedly associated with Khadem Abdulla Al Qubais, a citizen of the United Arab Emirates, held in the names of Vasco Investments Services SA, of the British Virgin Islands, and Eagle Strategic Investment Fund at Bank Privée Edmond de Rothschild, in Luxembourg, at the U. S. District Court for the Central District of California.

NMC Health Plc: Chapter 15 Petition

May 28, 2020 - Chapter 15 Petition for Recognition of a Foreign Main Proceeding in England by Richard Dixon Fleming, Mark Firmin, and Ben Cairns, as the Foreign Representatives of NMC Health Plc, described as being part of a group that is "the largest private healthcare provider in the United Arab Emirates" that is suspected of "financial irregularity" and "fraudulent behavior", at the U. S. Bankruptcy Court for the District of Delaware.

Elko Broadband Ltd. v. HaiderMota BNR et al: Notice of Removal

May 18, 2020 - Notice of Removal, including a copy of the complaint alleging professional malpractice regarding a proposed transaction involving Warid Telecom International, of the United Arab Emirates, in Elko Broadband Ltd., of Reno, Nevada v. HaiderMota BNR, described as a law firm in Pakistan, and A.F. Ferguson & Company, described as an accounting firm in Pakistan, at the U. S. District Court for the District of Nevada.

Reservation S30 Ltd. et al v. Khalaf bin Ahmed Khalaf Al Otaiba: Originating Summons

May 08, 2020 - Originating Summons in Reservation S30 Limited, Reservation Finance Limited, and Investcorp Holdings BSC, all of the Cayman Islands v. Khalaf bin Ahmed Khalaf Al Otaiba, of Sharkah, in the United Arab Emirates, at the Grand Court of the Cayman Islands.

Attorney General v. Abu Dhabi Commercial Bank PJSC, Jersey Branch: Judgment

April 14, 2020 - Judgment regarding a £475,000 fine "for failing to maintain appropriate and consistent policies and procedures relating to customer due diligence measures and risk assessment and management in order to prevent and detect money laundering" in The Attorney General v. Abu Dhabi Commercial Bank PJSC, Jersey Branch at the Royal Court of Jersey, in the Channel Islands.

Campbells v. Mara Investment Corporation SPC Ltd.: Winding Up Petition

February 27, 2020 - Winding Up Petition in Campbells, a Cayman Islands law firm v. Mara Investment Corporation SPC Limited at the Grand Court of the Cayman Islands.

Jersey AG v. Abu Dhabi Commercial Bank PJSC: Judgment

February 05, 2020 - Judgment following a guilty plea for a money laundering offense in The Attorney General v. Abu Dhabi Commercial Bank PJSC Jersey Branch at the Royal Court of Jersey, in the Channel Islands.
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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.