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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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ADCADA Investments AG PCC: Investor Warning

May 22, 2020 - Investor Warning by the Austrian Financial Market Authority that ADCADA Investments AG PCC, of Liechtenstein, "is failing to comply with its obligations". Editor's Note: Research by OffshoreAlert showed that, in the Liechtenstein Commercial Register, the directors of ADCADA Investments AG PCC are identified as Lukas Jakob Wössner, Florian Scheiber, who is also President, and Benjamin Franklin Kühn, Chairman. On its website at https://adcada.healthcare/, ADCADA group claims to have "set up a production facility for mouth-nose protection mask" in Germany, where "12 million respiratory masks and other protective equipment are manufactured here every month".

Benjamin Steinmetz v. Vale SA et al: Discovery Application

May 21, 2020 - Application by Benjamin Steinmetz, of Israel, described as an "adviser" to BSG Resources Limited, "a Guernsey-based international mining and natural resources company", to take discovery from Vale SA, described as a Brazil company that is "one of the largest mining companies in the world"; Vale Americas Inc., Rio Tinto Plc, and Rio Tinto Limited for use in legal proceedings in the United Kingdom involving Vale S.A., of Brazil; Vale Holdings B.V., of the Netherlands, and Vale International S.A., of Switzerland, filed at the U. S. District Court for the Southern District of New York.

Malta regulator bans service providers Karl Schranz & Christian Ellul

May 10, 2020 - Accountant Karl Schranz and lawyer Christian Ellul have been banned by the Malta Financial Services Authority for their "lack of honesty and integrity".

Altarius Asset Management Ltd. et al: Reprimand

February 27, 2020 - Announcement by the Malta Financial Services Authority that it has reprimanded Altarius Asset Management Limited and its directors "at the time of the deficiencies identified by the Authority", Heinz Daxl, a citizen of Austria; Pierre Maliczak, a citizen of France, and Peter Mitterlehner, a citizen of Austria.

Austria: PNC Bank

November 15, 2019 - Application for the appointment of a Commissioner to collect evidence from PNC Bank - pursuant to a request for judicial assistance from Austria - for a criminal investigation into "unknown subjects" for aggravated fraud.

'Stop distributing misinformation about Cryptotrustconsulting,' writes Marc Bendrat

October 09, 2019 - Letter to OffshoreAlert from Marc Bendrat, a citizen of Germany residing in Austria, requesting that we "cease to distribute misinformation" about his British firm, Cryptotrustconsulting Ltd., which was the target of an "Investor Warning" by the Austrian Financial Market Authority.

Austrian regulator issues 'investor warning' against British firm Cryptotrustconsulting Ltd.

October 07, 2019 - The Austrian Financial Market Authority has issued an "Investor Warning" against British cryptocurrency management firm Cryptotrustconsulting Ltd., which is owned and operated by Marc Bendrat, a citizen of Germany residing in Austria.

Cryptotrustconsulting Ltd.: Investor Warning

October 04, 2019 - Investor Warning by the Austrian Financial Market Authority regarding Cryptotrustconsulting Ltd., a British company owned and operated by Marc Bendrat, 34, a citizen of Germany residing in Austria.

Scandal-plagued Odebrecht Group applies for Chapter 15 recognition in New York

August 26, 2019 - Companies in the Bahamas, Cayman Islands and Brazil that belong to the insolvent conglomerate Odebrecht Group at the heart of a Brazilian bribery scandal have applied for Chapter 15 recognition at federal bankruptcy court in New York.

Odebrecht SA et al: Chapter 15 Petition

August 26, 2019 - Chapter 15 Petition for Recognition of a Foreign Main Proceeding in Brazil by Marcelo Rossini, as the Foreign Representative of Odebrecht S.A., of Brazil; Odebrecht Finance Limited, of the Cayman Islands; Odebrecht Participações e Investimentos S.A., of Brazil, and ODB International Corporation, of the Bahamas, at the U. S. Bankruptcy Court for the Southern 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.