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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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Joseph Ebanks v. iFinex Inc. et al: Class Action Complaint

January 16, 2020 - Class Action Complaint alleging fraud involving Bitcoin cryptocurrency in Joseph Ebanks, of Stow, Ohio v. iFinex Inc., BFXNA Inc., DigFinex Inc., Tether Holdings Limited, Tether Limited, and Tether Operations Limited, all of the British Virgin Islands; Jean-Louis van der Velde, of Hong Kong; Giancarlo Devasini, of France, and Philip Potter, of Ocean Beach, NY, at the U. S. District Court for the Southern District of New York.

FTC v. Grand Bahama Cruise Line, LLC et al: Complaint

January 10, 2020 - Complaint alleging an "illegal telemarketing operation" in Federal Trade Commission v. Grand Bahama Cruise Line, LLC, of Florida; Ultimate Vacation Group, LLC, d.b.a. Royal Bahamas Cruise Line, LLC, of Florida; Tropical Accommodations LLC, d.b.a. Grand Celebration Cruise Line; VSC, LLC, of Delaware; Cabb Group, LLC, of Florida; Florida V.S.C. Inc., of Florida; Jonathan Blake Curtis, Anthony DiGiacomo, Christopher A. Cotroneo, Christina R. Peterson, and Robert J. Peterson II at the U. S. District Court for the Middle District of Florida.

Pacifico Global Advisors Ltd.: Public Notice

January 09, 2020 - Public Notice by the Securities Commission of the Bahamas regarding Pacifico Global Advisors Ltd. (in Liquidation).

Ikana Holdings, S. de RL et al v. Putney Capital Management Ltd. et al: Claim Form

December 18, 2019 - Claim Form for damages of $53 million in Ikana Holdings, S. de R.L., of Panama, and Consorcio Energetico Punta Cana-Macao, SA, of the Dominican Republic v. Putney Capital Management Ltd., of the British Virgin Islands; Basic Energy (BVI) Ltd., now known as Haina Energy Holdings II, of the BVI, and Snapper Investments, Inc., of the Bahamas, at the British Virgin Islands High Court.

Peter Nygard v. Frederick Smith et al: Contempt of Court Appeal Judgment

December 18, 2019 - Judgment allowing an application by Peter Nygard, a Finnish-Canadian fashion businessman, to stay a Court Order committing and sentencing him to prison for 90 days for contempt of court in Peter John Nygard v. Frederick Smith QC, The Coalition to Protect Clifton Bay, and Callenders & Co. at the Court of Appeal in the Bahamas.

Pacifico Global Advisors Ltd.: First Report of Liquidator

December 16, 2019 - First Interim Report of Edmund Rahming, as Official Liquidator of Pacifico Global Advisors Ltd., at Bahamas Supreme Court.

Jessica Ozberker v. G. Warren Whitaker et al: Originating Summons

December 13, 2019 - Originating Summons in Jessica Ozberker v. G. Warren Whitaker, The Royal Bank of Canada Trust Company (Bahamas) Limited, of the Bahamas; Francoise Herrmann, of San Francisco, California, and Alexandra Grace Ozberker (a minor) at the Grand Court of the Cayman Islands.

Mauricio Mota v. JPMorgan Chase & Co. et al: Discovery Application

December 13, 2019 - Application by Mauricio Mota to take discovery from JPMorgan Chase & Co., Fabio Pegas, Patricia Pratini De Moraes, and Blessed Holdings Inc. regarding several individuals and entities, including those in the Bahamas, Brazil, Cayman Islands, and Luxembourg, for use in legal proceedings in Rio de Janeiro, Brazil, against "Joesley and Wesley Mendonça Batista and their companies, including Brazilian meat-processing conglomerate JBS S.A. and J&F Investimentos S.A., to recover billions of dollars of public funds the Batistas admittedly obtained illicitly as part of a massive and widely-reported corruption and bribery scandal", filed at the U. S. District Court for the Southern District of New York.

Peter Nygard et al v. Louis Bacon: Defendant's Opposition to Leave to File Amended Complaint

December 09, 2019 - Defendant's Opposition to Plaintiff's Motion for Leave to Amend Complaint in Peter J. Nygard, a Finnish-Canadian fashion entrepreneur; Nygard International Partnership, and Nygard, Inc. v. Louis M. Bacon, an American hedge fund manager, at the U. S. District Court for the Southern District of New York. In his Motion, Bacon alleged that "two Bahamian resident witnesses" had given statements that they were hired to kill him and others.

Duranda Ash v. William Gay, Jr. et al: Discovery Application

December 04, 2019 - Application by Duranda Mae Ash to take discovery from William Henry Gay, Jr., described as "a commercial pilot with United Airlines" residing in Miami Beach, Florida; United Airlines Inc., Bank of America Corp., Wells Fargo Bank NA, and Liberty Mutual Insurance Company for use in "foreign divorce proceedings currently taking place in The Bahamas", filed at the U. S. District Court for the Southern District of Florida.

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.