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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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IIG Global Trade Finance Fund Ltd.: Chapter 15 Petition

January 17, 2020 - Chapter 15 Petition for Recognition of a Foreign Main Proceeding in the Cayman Islands by Alexander Lawson and Christopher Kennedy, of Alvarez and Marsal Cayman Islands Ltd., as the Foreign Representatives of IIG Global Trade Finance Fund Ltd. (in Official Liquidation), at the U. S. Bankruptcy Court for the Southern District of New York.

Fraud charges filed over Cayman firm's $30M ICO

January 17, 2020 - Criminal and regulatory charges alleging fraud have been brought in New Jersey against Canadian Boaz Manor and Israeli attorney Edith Pardo regarding a $30 million Initial Coin Offering by BCT Inc. SEZC, of the Cayman Islands.

USA v. Boaz Manor et al: Criminal Indictment

January 17, 2020 - Criminal Indictment alleging fraud involving an Initial Coin Offering in USA v. Boaz Manor, of Canada, and Edith Pardo, a.k.a. Edith Pardo Mehler, a.k.a. Edith Mehler, at the U. S. District Court for the District of New Jersey.

SEC v. Boaz Manor et al: Complaint

January 17, 2020 - Complaint alleging fraud involving a $30 million Initial Coin Offering in U. S. Securities and Exchange Commission v. Boaz Manor, a.k.a. Shaun MacDonald, of Toronto, Canada; Edith Pardo, a.k.a. Edith Pardo Mehler, a.k.a. Edith Mehler, of Bloomfield, New Jersey; CG Blockchain, Inc., of New York, NY, and BCT Inc. SECZ, formerly known as BCT Inc., of the Cayman Islands, at the U. S. District Court for the District of New Jersey.

Morgan Gatsby Ltd.: Fine

January 06, 2020 - Decision Notice by the Dubai Financial Services Authority announcing a fine against Morgan Gatsby Limited regarding the promotion of Essel Africa Natural Resource Fund, of Luxembourg, and other matters. Editor's Note: Research by OffshoreAlert showed that, according to the website of the Dubai International Financial Centre, Morgan Gatsby Limited went into liquidation on February 5th, 2019, that its directors are Gagan Jawahar Goyal, Shahzaad Siraj Dalal, and Ajay Rajinder Arora, and former directors include Pankaj Prem Gupta, Mazin Mohammad Mohyelddin Alkhatib, Farhan Abdulrahim Mohammed Faraidooni, Ahmad Abdulla Juma Binbyat, and George Zaki George Mushahwar.

Derek Scheinman: Chapter 15 Petition

January 06, 2020 - Chapter 15 Petition for Recognition of a Foreign Main Proceeding in Canada by Allan Rutman, of Zeifman Partners, Inc., as the Foreign Representative of Derek Scheinman, a citizen of Canada and a suspected fraudster who controlled "a mortgage-backed security investment venture" known as Grossman Silver Horizon LP, at the U. S. Bankruptcy Court for the Southern District of Florida.

SEC v. Steve Bajic et al: Complaint

January 02, 2020 - Complaint alleging securities fraud in U. S. Securities and Exchange Commission v. Steve M. Bajic, described as a dual citizen of Canada and Croatia; Rajesh Taneja, described as a citizen of Canada residing in Vietnam; Norfolk Heights Ltd., described as "a Seychelles company owned by a dual Mexican and Canadian citizen"; Fountain Drive Ltd., Island Fortune Global Ltd., Crystalmount Ltd., and Wisdom Chain Ltd., each described as "a Seychelles corporation with a registered address in Hong Kong"; SSID Ltd., of Hong Kong; Sure Mighty Ltd., described as "a Seychelles corporation owned by a Japanese citizen"; Tamarind Investments Inc., described as "an Anguillan corporation with registered addresses in Hong Kong and Thailand"; Kenneth Ciapala, described as "a citizen of Switzerland and the United Kingdom"; Anthony Killarney, described as "a citizen of the United Kingdom, a resident of Switzerland"; Blacklight SA, of Switzerland; Christopher Lee McKnight, of Canada, and Aaron Dale Wise, of Florida, at the U. S. District Court for the Southern District of New York.

Crypto Asset Fund LLC et al v. Worldwide Asset eXchange et al: Judicial Assistance

December 23, 2019 - Ex Parte Application by Defendants for Judicial Assistance to take discovery from Thomas Graham, described as "an Australian national located in the United Kingdom" regarding an alleged cryptocurrency-based securities fraud in Crypto Asset Fund LLC, of Delaware, and Digital Capital Management LLC, of Delaware v. OPSkins Group Inc., d.b.a. Worldwide Asset eXchange, a Canadian company based in Santa Monica, California; Exposition Park Holdings SEZC, of the Cayman Islands; William Quigley, of California; Jonathan Yantis, of California; John Brechisci, Jr., of California, and Malcolm CasSelle, of California, at the U. S. District Court for the Central District of California.

Motorcycle Tires & Accessories LLC et al: Chapter 15 Petition

December 19, 2019 - Chapter 15 Petition for Recognition of a Foreign Main Proceeding in Canada by Maxime Codère, of KMPG (Quebec), as the Foreign Representative of Motorcycle Tires & Accessories LLC, Money Holding Company, Inc., Money Financial Services Company, lnc., Money LLC, and Nichols Motorcycle Supply, Inc., at the U. S. Bankruptcy Court for the District of Delaware.

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.

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.